Toronto’s 10 Most Anticipated New Venues

Original Article with Pictures By Susan O’Neill

Here’s a look at 10 new venues scheduled to open in the coming months.

1. The 267-room Ritz-Carlton Toronto—a $300 million, 53-storey hotel and residence on Wellington Street across from Roy Thomson Hall—is set to open in early February. A five-storey podium at the tower’s base houses 20,000 square feet of conference and event facilities, including two ballrooms with 7,500 and 3,000 square feet apiece, each with wall-to-wall, floor-to-ceiling windows. Also on site: a restaurant from Chef Tom Brodi, a 23,000-square-foot urban sanctuary with a yoga and Pilates studio, an indoor pool, and a spa and salon with 16 treatment rooms, including two executive suites.

2. Donald Trump is building his first Canadian project, the Trump International Hotel & Tower, at Bay and Adelaide streets in the city’s financial district. The 60-storey property will include 261 hotel suites, a full-service spa, a conference centre, and a restaurant on the 30th floor. The hotel’s 12,000 square feet of event space will include a grand ballroom and grand salon. A champagne and caviar bar will be in the lobby. The hotel is slated to open in the spring.

3. Next to Maple Leaf Gardens, the Holiday Inn Toronto Downtown Centre is set to open in February after an $18 million renovation. The property, which formerly operated as the Days Inn Carlton, has 514 rooms and more than 9,000 square feet of meeting space spread over nine function rooms, the largest of which holds as many as 130. Meeting spaces, including three dedicated boardrooms, are equipped with ergonomic seating, audiovisual equipment, and Wi-Fi. The hotel also has a spa, a coffee shop, and two options for dining: the Carlton Restaurant, which serves bistro-style cuisine, and Thirty Bar & Lounge.

4. The Scotiabank Convention Centre is scheduled to open in Niagara Falls in April. The centre will be about 500 yards from the Canadian Horseshoe Falls in the Fallsview Tourist District. The 288,000-square-foot building will house an 80,000-square-foot free-span exhibition hall, a 17,000-square-foot ballroom, 26,500 square feet of meeting and breakout space, and a 1,000-seat theatre.

5. Oliver & Bonacini’s flagship restaurant, Canoe—on the 54th floor of the TD Bank Tower—will reopen at the end of January following a monthlong renovation. Designer Lindsey Anacleto of Anacleto Design is creating a new look for the space, which originally opened 14 years ago. Upgrades will include polished concrete floors and the addition of a soapstone bar, walnut tabletops, metal wall installations, and rustic chandeliers. Canoe has two private dining rooms that hold 60 when combined. The restaurant seats 140 and holds 250 for receptions.

6. Charles Khabouth, C.E.O. of INK Entertainment, is preparing to open an authentic French bistro in the Colonnade, a heritage building on Bloor Street, in May. The traditional brasserie, being designed by Munge Leung, will include a 7,000-square-foot dining room and two 1,000-square-foot patios—one on the second floor and the other at street level, just outside the Cartier windows. The restaurant, which is yet to be named, will hold 400 people total, and a semiprivate dining area will accommodate groups of as many as 26.

7. Chef Tom Brodi will helm the kitchen at Toca, the flagship restaurant set to open in the new Ritz-Carlton in February. The restaurant’s Canadian menu will focus on homegrown, naturally raised, and fresh-caught ingredients. The venue will have a contemporary design with natural materials and a earth-tone colour scheme. The restaurant will have an open-concept kitchen, a walk-through pastry corridor, a glass-encased cheese cave, and a glazed-brick interior. Toca will hold 120, with a private dining area for groups of 12. A chef’s table will seat eight.

8. Elena Morelli and Guido Alberto Saldini, the owners of the Queen West restaurant, Noce, are preparing to open Aria—a 3,300-square-foot restaurant with 30-foot ceilings in the base of the new Telus Tower at 25 York Street (adjacent to Maple Leaf Square). Stephen Pile Architect Inc. is designing the venue, which will offer contemporary Italian cuisine. The dining room and lounge will seat about 109. A terrace will hold 60. Aria is set to open in mid-February.

9. Domenic and Jack Scarangella, the brothers behind Mercatto, are preparing to open their fourth location in the Toronto Eaton Centre in February. The restaurant, called Trattoria Mercatto, is taking over the space formerly occupied by the City Grill. The space, being designed by Munge Leung, will hold about 165. A semiprivate room will hold 24, and a patio will seat about 110 during the warmer months. The menu, created by executive chef is Robert Rossi, will feature regional Italian dishes.

10. Victor Restaurant and Lounge at Hotel Le Germain on Mercer is scheduled to undergo renovations in January. The bar will have a greater prominence, facing the window wall overlooking Mercer Street; a semiprivate dining area—distinguished by a newly installed peacock window—will occupy the bar’s former domain and will hold as many as 40. Chef David Chrystian’s new menu will showcase dishes that correspond to local neighbourhoods with shared plates offering Greek and Indian flavours. The restaurant holds 50 and will continue to be available for buyout.

An office leasing transaction is like the stages of a relationship

I was thinking about the stages of a lease transaction and much of it can be represented by a relationship.  This post is just for fun.

Prospecting = Bar hook ups, Blind Dates, Internet dating – you never know how it will go but you can always make it fun.

Touring = Dating or courting – there’s a certain level of interest but you’re out looking for the best option possible to try and take it to the next level.

Offer to lease or listing agreement = Relationship – the agent owes you and you owe them an open and honest fiduciary duty towards the requirement.

Mandate or multiple deals = Marriage – you’re in it for the long haul so being open and honest about every aspect of each others business, thick or thin.

I wish I could skip the stages before Relationship and Marriage… they’re definitely the most fun in the process!

Yonge and Sheppard – North York Office Space for Lease Toronto

OfficeSearchToronto.com helps tenants determine the best office space for their budget from one of the largest database of available listings online. For a free survey call us at 416-643-3713 or E-mail Us Here or Contact Us!

Address	Available Space (sf)	Asking Gross Rental Rate (psf)	Asking Monthly Rate
10 York Mills Road	3,671	$26.54	$8,119.03
100 Sheppard Avenue E	1,799	$32.50	$4,872.29
100 Sheppard Avenue E	2,034	$32.50	$5,508.75
100 Sheppard Avenue E	3,331	$32.50	$9,021.46
100 Sheppard Avenue E	3,810	$32.50	$10,318.75
110 Sheppard Avenue E	1,485	$31.26	$3,868.43
110 Sheppard Avenue E	1,728	$35.26	$5,077.44
110 Sheppard Avenue E	4,654	$39.26	$15,226.34
110 Sheppard Avenue E	1,674	$39.26	$5,476.77
2 Sheppard Avenue E	1,693	$36.13	$5,097.34
25 Sheppard Avenue W	3,279	$41.64	$11,378.13
4101 Yonge Street	2,826	$34.54	$8,134.17
4120 Yonge Street	2,321	$39.35	$7,610.95
4211 Yonge Street	1,597	$35.50	$4,724.46
4211 Yonge Street	1,217	$35.50	$3,600.29
4211 Yonge Street	2,329	$35.50	$6,889.96
4430 Bathurst Street	1,555	$32.00	$4,146.67
45 Sheppard Avenue E	1,523	$33.34	$4,231.40
45 Sheppard Avenue E	2,093	$33.34	$5,815.05
45 Sheppard Avenue E	2,177	$33.34	$6,048.43
4576 Yonge Street	2,795	$33.76	$7,863.27
4711 Yonge Street	3,478	$38.53	$11,167.28
4711 Yonge Street	4,994	$38.53	$16,034.90
4711 Yonge Street	4,662	$38.53	$14,968.91
4711 Yonge Street	2,543	$38.53	$8,165.15
4950 Yonge Street	2,966	$39.50	$9,763.08
4950 Yonge Street	1,388	$39.50	$4,568.83
4950 Yonge Street	1,564	$39.50	$5,148.17
4950 Yonge Street	2,497	$39.50	$8,219.29
4950 Yonge Street	2,276	$39.50	$7,491.83
4950 Yonge Street	2,440	$39.50	$8,031.67
4950 Yonge Street	1,936	$39.50	$6,372.67
4950 Yonge Street	2,327	$39.50	$7,659.71
4950 Yonge Street	2,714	$39.50	$8,933.58
5000 Yonge Street	2,915	$33.86	$8,225.16
5001 Yonge Street	1,000	$30.00	$2,500.00
5001 Yonge Street	1,313	$33.10	$3,621.69
5001 Yonge Street	2,514	$33.10	$6,934.45
5001 Yonge Street	2,408	$33.10	$6,642.07
5075 Yonge Street	1,185	$35.96	$3,551.05
5075 Yonge Street	1,191	$35.96	$3,569.03
5140 Yonge Street	4,000	$34.62	$11,540.00
5160 Yonge Street	3,329	$37.83	$10,494.67
5231 Yonge Street	1,353	$31.00	$3,495.25

Toronto Financial Core Office Space for Lease – December 2010

OfficeSearchToronto.com tracks available office space across the GTA. Want a survey or availability report somewhere else in Toronto? Are these space too big? Call us at 416-643-3713 or E-mail Me!

Address	Available Space (sf)	Asking Gross Rental Rate (psf)	Asking Monthly Rate
1 Queen Street E	1,400	$48.26	$5,630.33
10 King Street E	1,441	$37.42	$4,493.52
10 King Street E	2,857	$37.42	$8,909.08
100 Adelaide Street W	1,881	$30.87	$4,838.87
100 Wellington Street W	2,389	$36.00	$7,167.00
121 King Street W	3,627	$52.44	$15,849.99
121 King Street W	3,340	$52.44	$14,595.80
121 King Street W	2,462	$52.44	$10,758.94
121 Richmond Street W	3,728	$30.50	$9,475.33
121 Richmond Street W	1,141	$31.50	$2,995.13
121 Richmond Street W	2,465	$31.50	$6,470.63
121 Richmond Street W	1,290	$31.50	$3,386.25
133 Richmond Street W	1,173	$29.26	$2,860.17
144 Front Street W	3,000	$32.97	$8,242.50
145 King Street W	1,015	$41.74	$3,530.51
145 King Street W	2,550	$56.24	$11,951.00
150 York Street	1,693	$51.59	$7,278.49
155 University Avenue	2,071	$37.92	$6,544.36
155 University Avenue	1,918	$37.92	$6,060.88
155 University Avenue	2,628	$37.92	$8,304.48
161 Bay Street	3,500	$66.93	$19,521.25
170 University Avenue	1,324	$39.18	$4,322.86
18 King Street E	3,015	$43.07	$10,821.34
18 King Street E	1,107	$43.07	$3,973.21
181 University Avenue	2,848	$51.57	$12,239.28
20 Toronto Street	2,963	$35.46	$8,755.67
20 Toronto Street	3,000	$35.46	$8,865.00
200 Bay Street, Royal Bank Plaza North Tower	2,000	$50.39	$8,398.33
200 Bay Street, Royal Bank Plaza South Tower	2,393	$69.37	$13,833.53
25 King Street W	3,074	$56.09	$14,368.39
25 King Street W	3,851	$56.09	$18,000.22
25 Toronto Street	3,496	$27.35	$7,967.97
330 Bay Street	3,282	$39.40	$10,775.90
36 Toronto Street	2,050	$39.90	$6,816.25
365 Bay Street	1,005	$38.84	$3,252.85
365 Bay Street	3,050	$38.84	$9,871.83
366 Bay Street	1,300	$37.95	$4,111.25
4 King Street W	2,266	$37.81	$7,139.79
40 University Avenue	1,508	$33.44	$4,202.29
40 University Avenue	3,540	$38.94	$11,487.30
40 University Avenue	3,282	$38.94	$10,650.09
401 Bay Street	2,201	$42.98	$7,883.25
401 Bay Street	1,428	$42.98	$5,114.62
401 Bay Street	1,633	$42.98	$5,848.86
401 Bay Street	2,675	$44.98	$10,026.79
53 Yonge Street	1,930	$35.48	$5,706.37
55 York Street	3,268	$37.89	$10,318.71
55 York Street	1,281	$37.89	$4,044.76
56 Temperance Street	3,495	$43.13	$12,561.61
56 Temperance Street	3,495	$43.13	$12,561.61
6 Adelaide Street E	2,666	$31.55	$7,009.36
67 Yonge Street	3,716	$28.38	$8,788.34
67 Yonge Street	2,357	$35.38	$6,949.22
67 Yonge Street	1,367	$35.38	$4,030.37
67 Yonge Street	3,950	$35.38	$11,645.92
69 Yonge Street	2,500	$35.04	$7,300.00
69 Yonge Street	1,161	$35.04	$3,390.12
69 Yonge Street	2,985	$35.04	$8,716.20
8 King Street E	2,316	$38.97	$7,521.21
8 King Street E	2,424	$38.97	$7,871.94
90 Adelaide Street W	1,035	$38.82	$3,348.23
90 Adelaide Street W	1,163	$38.82	$3,762.31

Yonge and St Clair up to Eglinton – Office Space for Lease Toronto

For floor plans or a survey of available office space in Toronto provide your contact info here and I will be in touch with a custom survey of office space tailored to your needs. It can’t get any easier that that!

Office Space for Lease from Dundas to Bloor – Toronto

We provide free custom surveys of available office space including a price list and floor plans. Simply reach out to us here!

Real Estate Agents are people too!

When a prospect or tenant informs me they have been out looking at other office space and they claim to “know the market”, I think of three things… agents form their own impressions on clients too!

1) Do they really know the market?  I do this for a living, I hope I know a little more about commercial real estate than they do!

2) Why isn’t the client working with the agent(s) that are showing them the office space?  Life is made much easier if you work with an experienced agent.  So maybe they think they will save money (wrong) or maybe they just haven’t met the right agent for them?

3) What is the likelihood of earning a fee for my time if they have seen multiple sites and multiple agents looking?  Usually the client will bring up how cheap or nice the other space is and try to negotiate on the spot.  This is usually a sign of unrealistic expectations and it will take time, energy and frustration to educate them.

After hearing about all the “other” space, unless I can get a commitment from the client to work together on the requirement, my effort usually ends after the first tour. The odds of landing a deal when the company has already made the decision to work with multiple agents is slim. Its a shame tenants don’t recognize the benefits of working with a good agent but 2011 will not be a year I spend time or energy worrying about it.  I work best with clients as a team, not as their push over.

Remember, agents are people too!

Ashlar Urban – January 2011 Listings

OfficeSearchToronto.com tracks available office space across the GTA. Want a survey or availability report somewhere else in Toronto? Are these space too big? Call us at 416-643-3713 or E-mail Me!

Available Office Space – Yonge and Eglinton Toronto

For commercial real estate advice or a custom survey of available office space call 416-643-3713 or contact us here!

Address	Available Space (sf)	Asking Gross Rental Rate (psf)	Asking Monthly Rate
55 St Clair Avenue W	1,009	$37.29	$3,135.47
1 St Clair Avenue W	1,042	$32.50	$2,822.08
21 St Clair Avenue E	1,043	$32.43	$2,818.71
150 Eglinton Avenue E	1,048	$28.60	$2,497.73
55 St Clair Avenue W	1,073	$37.29	$3,334.35
20 Eglinton Avenue W	1,100	$36.95	$3,387.08
3080 Yonge Street	1,104	$34.13	$3,139.96
124 Merton Street	1,125	$25.98	$2,435.63
1300 Yonge Street	1,155	$29.92	$2,879.80
55 St Clair Avenue W	1,158	$37.29	$3,598.49
150 Eglinton Avenue E	1,191	$28.60	$2,838.55
3080 Yonge Street	1,208	$34.13	$3,435.75
160 Eglinton Avenue E	1,215	$29.00	$2,936.25
150 Eglinton Avenue E	1,268	$28.60	$3,022.07
161 Eglinton Avenue E	1,286	$30.06	$3,221.43
30 St Clair Avenue W	1,335	$39.83	$4,431.09
1670 Bayview Avenue	1,353	$28.60	$3,224.65
60 St Clair Avenue E	1,369	$27.30	$3,114.48
161 Eglinton Avenue E	1,374	$30.06	$3,441.87
36 Eglinton Avenue W	1,415	$29.78	$3,511.56
22 St Clair Avenue E	1,421	$42.50	$5,032.71
2 St Clair Avenue E	1,426	$39.09	$4,645.20
1670 Bayview Avenue	1,439	$28.60	$3,429.62
2200 Yonge Street	1,487	$36.99	$4,583.68
1881 Yonge Street	1,509	$34.27	$4,309.45
90 Eglinton Avenue E	1,534	$35.60	$4,550.87
21 St Clair Avenue E	1,538	$32.43	$4,156.45
60 St Clair Avenue E	1,543	$27.30	$3,510.33
2190 Yonge Street	1,573	$36.73	$4,814.69
1881 Yonge Street	1,581	$34.27	$4,515.07
40 Eglinton Avenue E	1,590	$32.97	$4,368.53
20 Eglinton Avenue W	1,595	$36.95	$4,911.27
2323 Yonge Street	1,602	$32.08	$4,282.68
1670 Bayview Avenue	1,660	$28.60	$3,956.33
1251 Yonge Street	1,700	$28.45	$4,030.42
60 St Clair Avenue E	1,780	$27.30	$4,049.50
20 Eglinton Avenue W	1,800	$36.95	$5,542.50
40 Eglinton Avenue E	1,808	$32.97	$4,967.48
21 St Clair Avenue E	1,942	$32.43	$5,248.26
21 St Clair Avenue E	1,950	$32.43	$5,269.88
160 Eglinton Avenue E	1,957	$29.00	$4,729.42
90 Eglinton Avenue E	1,974	$35.60	$5,856.20
1 Eglinton Avenue E	1,981	$33.60	$5,546.80
3080 Yonge Street	2,021	$34.13	$5,748.06
1300 Yonge Street	2,045	$29.92	$5,098.87
1670 Bayview Avenue	2,078	$28.60	$4,952.57
60 St Clair Avenue E	2,085	$27.30	$4,743.38
1 Eglinton Avenue E	2,086	$33.60	$5,840.80
1251 Yonge Street	2,088	$28.45	$4,950.30
90 Eglinton Avenue E	2,097	$35.60	$6,221.10
90 Eglinton Avenue E	2,108	$35.60	$6,253.73
1992 Yonge Street	2,108	$24.95	$4,382.88
2200 Yonge Street	2,115	$36.99	$6,519.49
45 St Clair Avenue W	2,138	$38.65	$6,886.14
2200 Yonge Street	2,140	$36.99	$6,596.55
22 St Clair Avenue E	2,149	$42.50	$7,611.04
21 St Clair Avenue E	2,177	$32.43	$5,883.34
160 Eglinton Avenue E	2,305	$29.00	$5,570.42
124 Merton Street	2,345	$25.98	$5,076.93
1220 Yonge Street	2,375	$29.56	$5,850.42
491 Eglinton Avenue W	2,382	$27.00	$5,359.50
95 St Clair Avenue W	2,396	$36.28	$7,243.91
2 St Clair Avenue W	2,400	$43.14	$8,628.00
2 St Clair Avenue E	2,404	$33.09	$6,629.03
150 Eglinton Avenue E	2,475	$28.60	$5,898.75

Commercial Real Estate News – December 2010

The month ended slowly on the news front but that’s traditional for December.  I expect some great new options to come out this week, I have a number of clients looking for great ready to go solutions with office furniture they can pull the trigger on.   Here’s looking forward to a continued strong market through 2011!

E-mail Us Here for additional information on the market or a custom survey of available office space in your area!

What’s the deal with commercial real estate?

Patrick Hebert needs some space. His business is growing. Isn’t that a good problem to have? Not exactly. Along with his brother and fiancée, Hebert runs cellcycle.ca, an on-line company that collects and refurbishes used cellphones for resale. And he figures it’s time to expand his year-and-a-half-old, internet-based venture to an actual bricks-and-mortar location. CBC Tue Nov 30 2010

Rob Ford vows to freeze Toronto property taxes next year

Toronto’s new mayor is vowing to freeze property taxes next year. The property-tax freeze is a departure from Mr. Ford’s election campaign, when he said it would be “impossible” to hold the line on taxes. He promised to keep tax increases to the equivalent of the rate of inflation. Globe and Mail Wed Dec 01 2010

New home in works for Globe and Mail

The Globe and Mail will build a new headquarters in the King Street West neighbourhood of Toronto, an area of the city that has been a hive of condo and hotel development over the past decade. Woodbridge Co. Ltd., a private holding company that manages the assets of Canada’s Thomson family said on Thursday it will invest in new office space for the newspaper. Globe and Mail Fri Dec 03 2010

Colliers Acquires The Winbury Group To Expand Midwest Operations – Colliers International

Colliers International continued its aggressive growth strategy by acquiring a controlling interest in The Winbury Group in Kansas City. The firm will now operate as Colliers International | Kansas City and becomes the ninth local CRE firm in the US to be acquired and rebranded as Colliers International over the past year. Based in Kansas City, The Winbury Group also has an office in Lawrence, KS. CoStar Group Fri Dec 03 2010

Real Estate Investment Trusts will have a tax advantage in 2011

Four years ago the federal government announced that publicly traded income trusts, which provide big tax advantages over traditional corporations, would lose that edge by the end of 2010. The market reaction was swift and terrible, erasing $25 billion from the market value of income trusts and raising a cacophony of anger from investors who had put many of their eggs in the income trust basket. Vancouver Sun Fri Dec 03 2010

Low Interest Rates Make High Yield REITs Irresistible

REITs have become darlings of Wall Street this year and have been one the strongest performing segments of the financial sector. The Vanguard REIT Index ETF which holds nearly 100 different REITs, has increased close to 24% this year in contrast to the Financial sector for the S&P 500, which has hardly moved in 2010. Market Watch Fri Dec 03 2010

NorthWest Healthcare Buys Downtown Toronto Office Complex – NorthWest Healthcare Properties REIT – NWH.UN-T

NorthWest Healthcare Properties REIT has entered into an agreement to acquire The Dundas-Edward Centre, a 410,000 square foot two-tower office complex and eight-level parking facility located in downtown Toronto, Ontario for approximately $103 million (including mortgage prepayment costs and excluding closing costs). The purchase is expected to close in the first quarter of 2011 … Canadian Business Mon Dec 06 2010 – Winnipeg Free Press – Canada News Wire

Google drops US$1.9-billion on NYC office

Google Inc. is now the owner of an entire New York City block. In a deal reported by the Wall Street Journal to be valued close to US$1.9-billion, the world’s largest search engine purchased the 18-story, 2.9-million-square-foot property at 111 Eighth Avenue on Wednesday. The building is the third-largest in Manhattan and has more floor space than the Empire State Building; it is in fact so big the address 76 Ninth Avenue is actually the same building. Financial Post Sat Dec 04 2010

2011 Looks Bright for Canadas Office Markets – Cushman & Wakefield

According to Cushman & Wakefield’s 2011 Outlook on Canadian office and industrial real estate markets released today, 2011 will bring strengthening central and suburban demand that will gain momentum as the year unfolds. Canada’s commercial real estate markets may once again outperform expectations in 2011. Canadian central office markets delivered far better results than expected in 2010, and in the case of downtown Toronto, the best performance in North America. Vancouver Sun Wed Dec 08 2010

More Canadians work from home offices

About 3.6 million Canadians have the luxury of wandering down the hallway in their pyjamas to start their work days, suggests a report released Tuesday showing a rise in home office use. Statistics Canada reports more Canadians, and slightly more men than women, are working from home.Statistics Canada reports more Canadians, and slightly more men than women, are working from home. CBC Tue Dec 07 2010

Clive Doucet: Toronto, heed Ottawa’s rail experience

I read recent reports that Rob Ford, the new mayor of Toronto, plans to scrap his city’s surface rail projects — Transit City — with considerable dismay. Larry O’Brien did exactly the same thing to Ottawa after he was elected, and it didn’t work. It didn’t “save” anyone any money as O’Brien would have it. It cost millions and it crippled the city’s government over its mandate. Ottawa Citizen Fri Dec 10 2010

Commercial office tenants want green

Green building initiatives are a key influencer when tenants decide to sign a commercial real estate lease, according to a survey by GE Capital Real Estate. The survey, conducted over the past year, included more than 2,220 office tenants in the U.S., Canada, France, Germany, Sweden, the UK, Spain and Japan. An average of 50% of those polled say green building initiatives are a high priority. Property Magazine Mon Dec 13 2010

2010 a Pivotal Year for Greening Data Centers

2010 has been a pivotal year for ‘greening’ data centers. The drive towards cloud computing and the flood of new digital information has caused mission critical facilities to undergo a true revolution. As IT continues to get more dynamic, there is a renewed emphasis on reducing complexity, streamlining infrastructure and reducing energy costs. Green Building Pro Tue Dec 14 2010

Sheppard sheds its suburban skin

There was a time not that long ago when Sheppard Avenue was the northernmost outpost of urbanity in Greater Toronto. Now Sheppard – the main drag binding North York from east to west – could conceivably be considered to be the new midtown in a growing urban expanse that now reaches Aurora. It didn’t happen overnight, of course. Globe and Mail Wed Dec 15 2010

Whiterock REIT buys $112 million stake in buildings near Toronto, Montreal

Whiterock REIT is acquiring a stake in office and industrial buildings in the Greater Toronto Area and Montreal in a deal worth $112 million. The majority of the properties were bought in partnership with Toronto investment firm Return on Innovation Capital Ltd., and Whiterock will get 40 per cent ownership and provide property management. Winnipeg Free Press Wed Dec 22 2010 – Canada News Wire

Google Completes Deal for New York Office Building

Google Inc., owner of the world’s most popular search engine, completed the purchase of New York’s 111 Eighth Ave. as the company expands its presence in Manhattan. Taconic Investment Partners, Jamestown Properties and the New York State Common Retirement Fund sold the building, the companies said in a statement today. They didn’t disclose terms. Bloomberg Wed Dec 22 2010

Commercial real estate poses risk, says Bank

When it comes to potential risks to Britain’s financial system, many fingers point to its housing market where lending soared in the bubble years. But this month the Bank of England suggested lending to commercial real estate may pose a bigger risk. Financial Times Wed Dec 29 2010

Hines to sell Toronto’s Atrium on Bay for $344.8M

Hines Real Estate Investment Trust Inc. agreed to sell a Toronto office and retail complex to H&R REIT Properties Ltd. for $344.8 million. Hines bought the property, Atrium on Bay, in 2007 for $250 million, the Houston-based company said in a regulatory filing Thursday. Hines said it expects the sale to be completed no later than June 30. Financial Post Thu Dec 30 2010

Grubb & Ellis Predicts Commercial Real Estate Leasing Recovery to Proceed in 2011

Grubb & Ellis Company, a leading real estate services and investment firm, today released its 2011 Real Estate Forecast, which foresees the start of a slow recovery in the leasing market for all property types in the coming year. Activity in the investment market, which began its recovery earlier than anticipated in 2010, will expand beyond assets at the top and bottom of the quality scale to include properties with slightly more risk. PR Newswire Mon Jan 03 2011

Fire destroys historic Yonge St. building

Firefighters have now gained control over a six-alarm blaze that engulfed an abandoned three-story building at the corner of Yonge and Gould Sts. early Monday. Police have blocked traffic on Yonge St. from Dundas to Gerrard St., and Gerrard St. from Church to Bay Sts. There is no service for the 505 Dundas streetcar between Bay and Church Sts. Toronto Star Mon Jan 03 2011

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