Developers continue to expand Montreal life sciences sector

Not viewing? . You have received this message because you have chosen to receive newsletters from RENX.ca. Renx Logo * email_twitter_black.png * email_facebook_black.png * email_linkedin_black.png * email_email_black.png savetime.png Experts discuss the pursuit of downtown vibrancy in Vancouver and Calgary on the Colliers Talks Podcast. RENX DAILY NEWSLETTER April 10, 2024 - DEVELOPERS CONTINUE TO EXPAND MONTREAL LIFE SCIENCES SECTOR RENXCommercialRENX The Greater Montreal Area might already have a higher availability rate for life sciences space than Toronto or Vancouver, but new and repurposed facilities are continuing to be developed to keep up with the growing demand. KASTEL HOLDINGS BUYS DOWNTOWN EDMONTON OFFICE TOWER RENXCommercialRENX Kastel Holdings has acquired Edmonton’s Empire Building, a vintage 11-storey office tower in the city’s downtown core. The 108,800-square-foot building, built in 1962, will continue to house offices and main-floor retail, the company's president said. THE LIVE/WORK CONCEPT: PAST AND PRESENT, FORM AND FUNCTION RENXCommercialRENX GUEST SUBMISSION: With the seemingly endless debate about return-to-office versus working at home, plus considerations such as commute times, housing costs, office vacancies, changing demographics and an appeal for work-life balance, the live/work concept warrants a revisit. $120M PHARMACEUTICAL FACILITY PROPOSED NEAR WINNIPEG CommercialWinnipeg Free PressGlobal News Mittall Canada has proposed a $120-million pharmaceutical manufacturing facility development in the R.M. of St. Clements, north of Winnipeg. The facility would manufacture drugs like insulin and naloxone and is expected to create 1,000 jobs. Borrow and Build With Confidence Trez Capital Brings Bold Visions to Life - I TREZCAPITAL TORONTO OFFICE VACANCIES JUMP ANOTHER 13% CommercialToronto Star RENX Office vacancy rates jumped by 12.7 per cent in downtown Toronto in the first quarter of 2024 from the last quarter of 2023, according to Colliers. Toronto trailed the national downtown office vacancy rate of 16 per cent.  BANK OF CANADA HOLDS INTEREST RATE AT 5% CommercialCalgary Herald The Bank of Canada left the key overnight interest rate at five per cent Wednesday, where it has sat unchanged since July of 2023. Inflation is “still too high and risks remain,” the central bank said in a statement. DREAM OFFICE REIT RESPONDS TO MARKET RUMOURS CommercialBusiness WireRENX In response to recent increases in Dream Office REIT’s (D-UN-T) unit price and rumours around the price changes, the trust stated it continues to focus on its strategy of delivering long-term value to unitholders in a challenging office market. EDMONTON EXHIBITION LANDS REPORT TO BE REVISITED CommercialEdmonton JournalRENX More planning and a new report is to come in late 2024 for the 200-acre Edmonton Exhibition Lands project after the City of Edmonton urban planning committee met on Tuesday. Discussions about the future plans for the space continue. {7\ & [ Premium industrial spaces for lease. Learn more OTTAWA COMMITTEE OK'S PLAN TO WRAP HOUSING AROUND CHURCH Residential Ottawa Citizen The City of Ottawa’s built heritage committee has approved an application to build a nine-storey, 113-unit residential building that “wraps around” part of the former All Saints Anglican Church at 315 Chapel St. in Sandy Hill. DBS PROPOSES 40-STOREY EAST YORK RESIDENTIAL TOWER ResidentialUrbanTorontoRENX At DBS Developments’ rental community in East York's Taylor-Massey neighbourhood, plans for Bela Square Phase 2 include an Arcadis-designed 40-storey tower to the south of seven- and 35-storey rental buildings of the first phase. ARCHITECT USING VR TO SHOW FUTURE OF TORONTO’S CHINATOWN CommercialGlobe and Mail Growing up in Southwestern Ontario, between Kitchener, Windsor and London, architect Linda Zhang developed an affinity for Toronto’s Chinatown at a young age. “I spent my childhood driving several hours with my family to do weekly groceries in Toronto’s Chinatown,” she recalls. OPINION: WE CAN FIX WESTERN CANADA’S SUPPLY CHAINS Commercial Business in Vancouver Improving costs, streamlining regulations and investment can address transportation leaders’ dissatisfaction with Canada’s trade networks. Collective effort and collaboration can turn the tide, restoring optimism to the business landscape of Western Canada.  mmmm e TR e Whitby’s Newest-kandmark Industrial Development From 125,000 Sq. Ft. to 650,000 Sq. Ft. of Class ‘A’ Industrial Space AVAILABLE IMMEDIATELY FNIA LAUNCHES INDIGENOUS REAL ESTATE INSPECTIONS AGENCIES CommercialCanada NewswireCanada Newswire Nathan McDonald, founder and owner of First Nations Inspection Authority (FNIA), Tuesday announced the launch of one of the country's first Indigenous inspections agencies for residential, commercial and industrial developments. It will also advocate for improvements in First Nation buildings. SHOPPERS, TERRACYCLE TO RECYCLE BEAUTY PRODUCT WASTE CommercialSustainable Biz Canada Shoppers Drug Mart Inc. (L-T) has launched a recycling program for its private cosmetics line Quo Beauty with Trenton, N.J.-headquartered TerraCycle, aiming to tackle waste that is rarely accepted by curbside services. IVANHOÉ JVS ON $900M AUSTRALIAN STUDENT HOUSING Residential Ivanhoé Cambridge media releaseRENXHines media release Montreal-based real estate giant Ivanhoé Cambridge announced it is partnering with Scape Australia and Dutch pension manager APG Asset Management N.V. in a $900 million Cdn venture in Australia’s student housing sector. MOODY'S CRE, LANDGATE TO REDEFINE RISK ANALYSIS CommercialPR Newswire LandGate announced a strategic collaboration with Moody's CRE to transform the renewable energy sector's approach to risk assessment, lending and investing. The collaboration aims to expand the market's ability to derive additional value from commercial real estate assets. Trust, Integrity, @ TS AR Versatile Debt and N PRIVATE CAPITAL S BTy A OTHE N Pt MORE THAN 80% OF U.S. OFFICES SEE UPTICK IN LEASE RENEWALS CommercialBusiness Wire According to the latest VTS Office Demand Index (VODI), national demand for office space marked its sixth consecutive month of annual growth, and VTS’ 2024 Global Workplace Report showed that 62% of companies are executing a hybrid work strategy. $65B TSMC CAMPUS WILL IMPACT ARIZONA’S INDUSTRIAL MARKET CommercialCommercial Property Executive. Phoenix, already a top industrial and advanced manufacturing hub, can expect to attract even more CRE investments now that Taiwan Semiconductor Manufacturing Co. plans to add a third lab for a total investment of more than $65 billion. SIGNS OF U.S. REIT SOFTENING EMERGE CommercialWealthManagement.com Publicly traded REITs eked out a 2.1% gain in funds from operations (FFO) in 2023, according to Nareit’s T-Tracker. While positive, it was much lower than the figures posted in 2022 and 2021 when FFO grew 17.2% and 22.3%, respectively. WHAT 99 CENTS ONLY’S DEMISE MEANS FOR CRE CommercialCommercial Property Executive The announcement Friday that 99 Cents Only Stores LLC is going out of business has immediately put into play the company’s 44 owned and 333 leased locations in Arizona, California, Nevada and Texas. Save time. Stay informed. - Advertise | | You are subscribed as [email protected] Forward this email to a friend | | Real Estate News Exchange (RENX), a Squall Inc. news service P.O. Box 1484, Stn. B Ottawa, On K1P 5P6 Canada Add us to your address book RENX Logo * email_twitter_white.png * email_facebook_white.png * email_linkedin_white.png * email_email_white.png Copyright (C) 2024 Real Estate News Exchange (RENX), a Squall Inc. news service All rights reserved.