Commercial Real Estate To See “Upswing In Demand” As Industrial, Retail Grow
Despite ongoing office struggles, strong industrial and retail markets are driving growth in Canada’s commercial real estate sector. Despite ongoing struggles in the office market, Canada’s commercial real estate sector is poised to see an “upswing in demand” as strong industrial and retail markets drive growth. RE/MAX Canada’s 2023 Commercial Property Report, released on Thursday, […]
Oxford sells $81.5M Vaughan Industrial Park building
A Greater Toronto Area manufacturer has beaten the odds in the city’s industrial market, acquiring a 281,265-square-foot building in Oxford Properties’ Vaughan Industrial Parkfor $81.5 million. The two-tenant building at 81 Royal Group Cres. in Concord, north of Toronto, was acquired via an off-market transaction. The Vaughan Industrial Park encompasses three million square feet in eight facilities. “They (Oxford) […]
Why Single Family Residential real estate is the worst investment in 2023
It’s important to note that the performance of residential real estate as an investment can vary greatly depending on location, timing, and various economic factors. Declaring residential real estate as the “worst” investment in 2023 or any year is a broad statement that may not apply universally. Real estate markets are highly localized, and what […]
Bosa acquires industrial park, development land in Chilliwack, B.C.
Legacy Pacific Industrial Park contains 300,000 sq. ft. of buildings, capacity for additional 160,000 sq. ft. The Legacy Pacific Industrial Park in Chilliwack, B.C. (Courtesy Avison Young) Bosa Properties has acquired the Legacy Pacific Industrial Park in Chilliwack, B.C., which contains 300,000 square feet of existing space plus excess land for expansion, in the city’s […]
Construction labour shortage will make housing supply gap worse, experts say
The construction industry is short tens of thousands of workers, and experts say a coming wave of retirements could make the problem worse even as Canada is millions of homes behind what’s needed to reach housing affordability this decade. “That labour shortage is going to remain, and it’s only going to increase,” said Reva Bond, […]
Wyndham board rejects takeover bid by Choice Hotels
Offer for $90 per share would value the transaction at $9.8B U.S., including debt UPDATED: An unsolicited bid by Choice Hotels International to acquire Wyndham Hotels & Resorts, Inc. for $90 US per share (all figures U.S. dollars) has been rejected by Wyndham’s board of directors. The offer by Choice, which went public with its […]
Cushman & Wakefield brokers sale of Phoenix Hampton Inn
Cushman & Wakefield has brokered the sale of the 99-room Hampton Inn Phoenix-Midtown-Downtown Area. The property was sold to locally based Mango Tree LLC for $16.25 million and represents the buyer’s first Hilton-branded hotel asset under ownership. Mango Tree LLC plans to make significant renovations to the Midtown Phoenix property. Bill Murney, executive managing director, […]
How Choice, Wyndham Hotel Counts and Pipelines Compare to Other Brands
Choice Hotels International has gone public with its bid to acquire Wyndham Hotels & Resorts, and Wyndham’s board of directors has rejected the offer, leaving the prospects of a deal up in the air. Still, it’s tempting to imagine what a combined company would look like. To get a better idea of where Choice and Wyndham, […]
WeQuit: WeWork CEO Sandeep Mathrani Stepping Down to Join Private Equity Firm
WeWork CEO and Chairman Sandeep Mathrani will step down from his post later this month to take a job at a private equity firm. David Tolley, a board member at WeWork, was appointed temporary CEO of the coworking giant, while new board Chairman Daniel Hurwitz will start a committee to look for a new permanent CEO, WeWork announced Tuesday. Mathrani’s […]
