Commercial Real Estate News Toronto through November 2010

GTA Downtown

THE MARKET
The gradual expansion of the Finance, Insurance and Real Estate (FIRE) sector has been one of the primary drivers of the downtown market over the past five quarters. Some mid-size companies have been active in the downtown market outside of the financial core, while smaller companies do not have a strong presence in this market. Renewals have been predominant in the marketplace and tenants have remained cautious, thus placing some downward pressure on rental rates in order to retain the competitiveness of available space.

TRENDS
GTA Downtown has been stabilizing in both vacancy and rent performance.The vacancy rate has been continuously increasing since Q4 2007, but its pace slowed in the past year to settle at 5.6 percent by Q3 2010. After a significant decline of 9.7 percent in Q3 2009, average asking net rents hovered at approximately $21 for the past year.

FORECAST
Rental rates are predicted to remain steady in the short term and eventually increase in the second half of 2011 as the market becomes more favorable to landlords. It is foreseeable that vacancy rates for Class A and AAA buildings will go up by the end of this year as some large tenants have decided to relocate outside of the financial core. Going into 2011, the return of strong activity is expected to turn into positive absorption.
Similar to the GTA market as a whole, the downtown vacancy rate is projected to experience a minimal increase followed by a decline in 2011. Average asking net rent is expected to increase steadily to $21.34 per square foot by the end of Q3 2011.

NEWS
Explore Toronto’s neighbourhood boutiques

There’s no doubt Toronto boasts an impressive selection of winter-friendly malls. But it’s impossible to get any flavour of a city when exposed only to massive chain stores. In fact, Toronto’s best retail asset is the entrepreneurial spirit driving people to open up shops that capture the zeitgeist of the world at large while distilling it down to a distinct and colourful sensibility.

Globe and Mail Mon Nov 15 2010

Is this giant tube just a pipe dream?

Picture a long, transparent worm with tentacles filled with cars, and you begin to get a sense of what architectural designer Peter Michno has in mind for the Gardiner Expressway. He envisions a vented, glass-covered tube that would run seven kilometers, end to end, of the elevated section, from Dufferin St. east to the Don Valley Parkway.

Toronto Star Mon Nov 15 2010

Investors should be thrilled with new RioCan CEO deal: analyst – Riocan REIT – REI.UN-T

RioCan REIT chief executive Edward Sonshine has a new five-year contract and RBC Capital Markets analyst Neil Downey says that’s good news for investors. Since RioCan, Canada’s largest REIT, announced this month the 63-year-old Mr. Sonshine was staying on, the analyst has been facing some inquiring calls from U.S. investors looking for terms of the deal.

Financial Post Wed Nov 17 2010

TD, RBC raise mortgage rates

If worries about the sickly U.S. economy and Ireland’s rocky financial situation seemed remote a few days ago, they shouldn’t anymore. Those global concerns are pushing up Canadians’ borrowing costs when it comes to buying a home. TD Canada Trust and the Royal Bank of Canada said separately that they are increasing some of their fixed-term mortgage rates by as much as one-quarter of a percentage point.

Moneyville Wed Nov 17 2010

Environmental assessment okays tunnel to island airport

A controversial project to create a pedestrian tunnel to the island airport won’t hurt the environment, according to an independent report commissioned by the Toronto Port Authority. The draft environmental assessment states there will be ‘no permanent significant environmental effects’ and ‘minimal’ construction impacts from digging a 123-metre tunnel from Eireann Quay at the bottom of Bathurst St. to the Billy Bishop island airport.

Toronto Star Wed Nov 17 2010

Build Toronto’s first sale likely Front St. site – Build Toronto

The city has a buyer for the first property to sell after it set up an arms-length body 19 months ago to deal with lucrative sites it can no longer use. Build Toronto is in final negotiations with Cityzen Development over 154 Front St. E., the former Greyhound parcel office that went up for sale this spring.

Globe and Mail Fri Nov 19 2010

Retail and REITs Drive Canada’s Commercial Market

Strong demand by investors for Canadian retail properties has pushed sales to record levels in the third quarter, according to a new study by Avison Young’s Toronto headquarters. An active real estate investment trust sector also helped boost trading. Sales already have exceeded totals for all of 2009, Canada Newswire reports. By the end of the third quarter, over $12 billion in commercial real estate assets had changed hands – up 57% over the same nine-month period one year ago.

Real Estate Channel Thu Nov 18 2010 – Reuters

Ontario Government warn hydro rates to jump 46 per cent in five years

Ontarians will be zapped with a 46 per cent increase in home electricity costs over the next five years to pay for much-needed hydro system upgrades, warns the Liberal government. To offset that sticker shock, Premier Dalton McGuinty’s administration is offering a 10 per cent discount called the Ontario Clean Energy Benefit on hydro bills starting in January and lasting five years.

Toronto Star Fri Nov 19 2010

Aecon wins $279-million TTC subway deal – Aecon – ARE-T

Construction and infrastructure development company Aecon Group Inc. says it has been awarded a $279-million contract by Toronto Transit Commission to extend one of the city’s main subway lines northward. The agreement will add two additional subway stops beyond Downsview station, which is current at one end of the U-shaped Yonge-University-Spadina line.

Globe and Mail Mon Nov 22 2010

Allied Properties REIT Bolsters Leadership Team – Allied Property REIT – AP.UN-T

Allied Properties REIT announced today that Thomas G. Burns has been appointed Executive Vice President, Operations and Leasing. He will formally commence his duties on January 17, 2011. Allied also announced that Wayne L. Jacobs has been appointed Executive Vice President, Acquisitions.

Market Wire Wed Nov 24 2010

Canadian office markets performed better than expected

Amid all the economic malaise over the past year, Canadian office-building markets fared better than was expected. “Whether it be Calgary, Vancouver, Toronto for sure – all markets have performed better than could have been, given the depth of the recession and the seriousness of the financial crisis in the United States,” Paul Morse, a senior vice-president with Cushman & Wakefield.

Daily Commercial News Fri Nov 26 2010

Commercial real estate investment properties in Canada exceed volumes for 2009 – Avison Young

A strong appetite for retail properties and an active real estate investment trust sector has resulted in commercial real estate investment sales in Canada to do better than in 2009, the latest figures show. Over US$12 billion in commercial real estate assets had changed hands by the end of the third quarter of 2010, up 57% compared with the same nine month period in 2009.

Property Wire Fri Nov 26 2010

Canada commercial property tax hit worlds highest

Canada is the world’s most expensive country to invest in commercial real estate, at least when it comes to how deeply taxes cut into potential profits. Taxes on commercial property rents in Canada are a “massive” 53 per cent of total income, according to a study by Luxemburg-based tax advisory firm Taxand. That’s 12 per cent higher than the United States, the next country on the list.

Globe and Mail Mon Nov 29 2010 – Bloomberg

November 2010 – Commercial Real Estate News Toronto

Aging towers losing tenants to new eco-friendly offerings

As Toronto’s downtown office market defies the doomsayers with steadily improving vacancy numbers, some of the best space in Canada’s most prestigious tower sits empty. The 12,000-square-foot space on the 72nd storey of First Canadian Place may offer the best view of the city that money can buy, but it’s sitting on the market waiting for an owner with a dramatic flair to sign a lease.

Globe and Mail Wed Nov 03 2010

Banks Help Toronto Office Market Outperform N.A. Cities – Cushman & Wakefield

You could say that Toronto owes Canada’s banks a big thank you, at least if you look at it from an office-using (or jobs) perspective. Cushman & Wakefield Q3 stats confirm that thanks mostly to our banking sector, which became a global poster child for warding off the worst of the subprime fallout, Toronto’s downtown office-leasing market not only dodged a long painful period of high vacancy but outperformed all expectations.

Vancouver Sun Tue Nov 02 2010

REITs On Fire In 2010

Real estate investment trusts have been on a tear this year, with leading REIT indexes trouncing equities, according to NAREIT. The FTSE NAREIT Equity REIT Index was up 24.7% as of October 31, and the FTSE NAREIT All REITs Index was up 23.9%. That compares to the 7.8% gain on the S&P 500 index. Both REIT indexes gained more than 4% during October.

Financial Advisor Wed Nov 03 2010

Brookfield Office Properties Canada Reports Third Quarter 2010 Results – Brookfield Properties – BPO-T

Brookfield Office Properties Canada announced that in accordance with International Financial Reporting Standards net income for the three months ended September 30, 2010 was $39.0 million or $0.42 per unit. On a comparative basis, due to fair value changes, the Trust recorded a loss of $120.1 million or $1.29 per unit during the same period in 2009.

Financial Post Thu Nov 04 2010

Toronto scene: Waterfront is on a roll

When Torontonians consider the city’s waterfront, many of us still cling to an outdated view that nothing much is happening there. In fact, large tracts along Toronto’s once moribund shoreline have become hives of activity. Buildings are rising up; new parks have recently been opened, with more are on the way; and in the West Don Lands, site of the future Pan Am Games athletes’ village.

Toronto Star Mon Nov 08 2010

Vancouver the most expensive commercial real estate market – Avison Young

Vancouver’s pricey commercial real estate market is driving investment volumes across Canada. This according to commercial real estate firm Avison Young, which released a report Tuesday morning indicating the Canadian commercial real estate market in 2010 had already surpassed 2009 sales totals.

BIV Interactive Wed Nov 10 2010

Allied Properties REIT Announces Agreement to Acquire 50% Interest in Class – Allied Property REIT – AP.UN-T

Allied Properties REIT announced today that it has entered into an agreement with Perimeter Development Corporation to purchase a 50% undivided interest in The Breithaupt Block, 20-24 & 51 Breithaupt Street, Kitchener, for $4 million. Located in the Warehouse District of Kitchener and in close proximity to Allied’s property at 72 Victoria Street, The Breithaupt Block is comprised of …

Market Wire Wed Nov 10 2010

Negotiating a Commercial Lease – Part One

It has been stated on a number of occasions that negotiation is an art, not a science. The implication is that successful negotiators are born with the ability to negotiate. However, even great artists study to improve their skill, and even those without an artistic bone in their body can learn to develop skills in areas where they are lacking.

Monster Commercial Fri Nov 12 2010

Financial Core Office Space Toronto – Smith Company vacancy chart

Smith Company got some great PR in the Globe today. We’ve been using this format at Colliers for years now but to their credit they stepped up and made it look a little prettier. Would have been nice if they put a little bit of work into it and called the buildings to discuss rental rates instead of putting “Negotiable” though. If you want those rates, just give me a call. Example, Brookfield Place is currently looking for $41 net or ($72 psf gross) – yep, it’s that expensive!

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Toronto Commercial Real Estate News Summary – October 2010

The market has been extremely busy with 1,000 to 5,000 sf requirements but slow with few requirements looking for anything larger than 5,000 sf.  Space with good improvements has been difficult to find.  Built out sublease are in high demand, so if you are looking to get out of your space, now’s a great time.

Toronto News

Target plots 200-store push into Canada – Target – TCI-X

Target Corp. was the hot topic at a Toronto shopping centre trade show Tuesday as representatives of the cheap-chic Wal-Mart rival held meetings with developers to discuss its store rollout plan for Canada, with an eye to opening up to 200 stores. The second-largest mass merchant in the United States behind Wal-Mart Stores Inc. is looking to open six to 10 stores in late 2014 or 2015.

Financial Post Wed Oct 06 2010

U.S. Office Market Starting to Stabilize

In a sign that the country’s commercial real-estate market is finally turning the corner, new statistics show that office rents that have been falling throughout the economic downturn are beginning to stabilize. The industry’s recovery is likely to be a slow one. Many businesses are continuing to give up office space as new hiring stays sluggish, the timing of the economy’s recovery remains uncertain and companies figure out how to fit more workers into less space.

Wall St. Journal Wed Oct 06 2010

TREB Commercial REALTORS – Report Monthly Commercial Figures

Last month, TREB Commercial Members reported 648,636 square feet of leased space, a five per cent increase over the 614,830 square feet of leased space in September of 2009. “The demand for Commercial space in the GTA was very strong through the first three quarters of 2010, with lease transactions up 60 per cent compared to the same period last year. ….

Market Wire Wed Oct 06 2010

Hume: Ten reasons the GTA — not just downtown Toronto — is getting better all the time

If nothing else, the current mayoral race has revealed Toronto to be a city divided. According to the logic of the campaign, it’s downtowners versus the rest of world. That may be simplifying things, but there’s no doubt tension exists between the old City of Toronto and its current municipal bedmates. Amalgamation has left many feeling neglected, and worse, scorned.

Toronto Star Wed Oct 13 2010

Rebound in REIT sector

The combination of low interest rates, ample liquidity and a reasonable property market have helped make real estate investment trusts the year’s hottest financing sector. As of yesterday, 26 separate issues, which have raised $2.421-billion, have closed while a further six (for $420-million) have been announced but not closed. In all, $2.84-billion has been raised with three of the issuers being new-to-the-market companies.

Financial Post Fri Oct 15 2010

Downtown buildings still without power

Some commercial buildings remained without electricity into the afternoon after a power outage hit the downtown core Thursday morning. As of midday the power was still out in 10 buildings between Adelaide St. to Front St. and Bay St. to John St. Toronto Hydro would not identify which buildings were affected, and could not confirm the cause.

Toronto Star Thu Oct 14 2010

Corus Quay opens on Toronto waterfront – Corus Quay

What is said to be North America’s most advanced broadcast facility and the city’s smartest building has opened on the Toronto waterfront. Designed by Diamond + Schmitt Architects, the eight-storey, glass-clad Corus Quay project occupies a remediated brownfield site on the edge of Lake Ontario. It is owned and managed by the City of Toronto’s arms-length real estate development company, Build Toronto.

Daily Commercial News Mon Oct 18 2010

In commercial real estate, a little less of a man’s world

If you’re making more than $250,000 in the commercial real estate industry, you’re most likely a man. A new, in-depth comparison of women and men in the commercial real estate field finds the pay gap narrowing, but men are still much more likely to be making the really big bucks. The survey found that 31 percent of men and 11 percent of women in the commercial real estate industry reported more than $250,000 in total annual compensation in 2010.

Life Inc. Mon Oct 18 2010

Commercial Real Estate Investment in Recovery Mode: Jones Lang LaSalle

The commercial real estate investment market has stepped firmly into recovery mode, according to Jones Lang LaSalle’s Fall 2010 Investor Sentiment survey. The survey included responses from more than 200 industry participants including nationwide property owners, banks, agencies, development firms, academics and professional services firm/consultants.

Bson Mon Oct 18 2010

It’s a tenant’s market for Toronto office space: Colliers – Colliers International

The Toronto office market remains something of a paradox. Even as rents go down because of a wealth of new supply and uncertainty over the economy, it remains attractive to investors who see good value in Canadian real estate. Despite the investor interest, Toronto’s office market remains firmly on the side of tenants who are taking advantage of the new supply by driving down rents.

Your Home Fri Oct 22 2010

Consumer confidence lowest since downturn: poll

News A poll released Thursday suggests Canadians’ confidence in the economy in early October fell to its lowest level since the recession. Nanos Research said its economic mood Index fell to 111.4, based on sampling it did Oct.1-6. A Nanos survey suggests Canadians’ optimism about the real estate market fell in the last three months, particularly in Ontario.

CBC Fri Oct 22 2010

RBC takes a bite from Apple Stores

Royal Bank of Canada is preparing to unveil this week a new generation of branch outlet that, if the strategy works, will make people forget they are inside a bank. In an unusual move for a financial institution, RBC has turned to the Apple Store, one of the more successful retail concepts of the past decade, for inspiration in drawing new customers.

Globe and Mail Mon Oct 25 2010

First Capital Realty acquires two shopping centres for $77.9 million – First Capital Realty – FCR-T

First Capital Realty Inc. has acquired two shopping centres in Toronto for a total of $77.9 million, the real-estate developer said Monday. Together the properties cover 319,700 square feet and are both have redevelopment opportunities in growing communities. The first property is Parkway Mall, a 257,000 square foot shopping centre on 7.32 hectares of retail space. It was purchased for $61.8 million in cash.

Winnipeg Free Press Mon Oct 25 2010 – Canada News Wire

CB Richard Ellis’ earnings jump fourfold as revenue rises – CB Richard Ellis Group – CBG-N

CB Richard Ellis Group Inc. said Tuesday its third-quarter profit increased more than fourfold as the commercial property firm posted the biggest revenue jump since the financial crisis began in late 2007. The company reported net income of $57 million, or 18 cents a share, for the three months that ended Sept. 30. That compares with net income of $12.4 million, or 4 cents a share, a year earlier.

Canadian Business Wed Oct 27 2010

Colliers International Delivers Strong Year Over Year Growth for FirstService Corporation – Colliers International

FirstService Corporation reported results for its third quarter ended September 30, 2010. All amounts are in U.S. dollars. Revenues for the third quarter were $530.4 million, an 18% increase relative to the same quarter in the prior year, Adjusted EBITDA (note 1) was $45.7 million, up 5% from $43.5 million and Adjusted EPS (note 2) was $0.61, versus $0.60 reported in the prior year quarter.

Market Wire Wed Oct 27 2010

Subway expansion gets a strong ‘yes’ vote

While Toronto voters split right down the middle when it came to supporting either mayor-elect Rob Ford or his two leading rivals, there seems to be far less ambiguity about one piece of the overall outcome: More than 83 per cent of voters supported a candidate who favours subway expansion.

Globe and Mail Wed Oct 27 2010

RioCan eyes acquisitions, higher rents in 2011 – Riocan REIT – REI.UN-T

RioCan REIT has earmarked C$600 million for acquisitions in the coming year and expects rising competition for Canadian retail space will be “good for a landlord” and translate into higher rents. RioCan is estimating about C$150 million in acquisitions next year in Canada and C$450 million in the United States. That come on top of expectations it will complete around C$1 billion in acquisitions and investments in 2010.

Reuters Fri Oct 29 2010 – Market Wire

Office vacancy dips below 10% in the GTA – Avison Young

Decisions surrounding commercial office space requirements that were delayed during the summer months are finally being negotiated, as evidenced by a flurry of leasing transactions concluded in the third quarter of 2010 in the GTA office market. However, even though leasing activity accelerated during the quarter, prompting a modest decline in vacancy, availability stubbornly remains in double-digit territory.

Canada News Wire Fri Oct 29 2010

Commercial Real Estate Services Firms Continue Strong Performance in 3Q – CBRE

Commercial real estate service firms CB Richard Ellis Group CBG and Jones Lang LaSalle JLL both continued their strong 2010 performances in the third quarter, and we are raising our 2010 forecasts and fair value estimates. In the third quarter, on a year-over-year basis, Jones Lang LaSalle booked 19% increases in revenue and EBITDA (as we measure it), while CB Richard Ellis achieved 24% revenue growth and a near doubling of EBITDA.

Toronto Star Fri Oct 29 2010

Colliers International – Market Report and Forecast – Greater Toronto Area – Q3 2010

For commercial real estate advice or a custom survey of available office space call 416-992-9869 or contact us here!

Video – Sherry Cooper provides an overview of the Canadian economic climate

Real Leasing from Colliers International on Vimeo.

Sherry Cooper provides an overview of the Canadian economic climate

Commercial Real Estate News Toronto – October 2010

Lots of smoggy opinions about the Toronto commercial real estate market this month.  The downtown market has picked up significantly and quality 1,000 to 3,000 square foot suites in the Toronto financial core aren’t as easy to find as even 4 months ago.  I am seeing competing offers and quality sublease options in limited supply.  If you are looking for a good deal I recommend you give yourself an extra month so you don’t have to rush it.

Have an opinion?  Leave a comment below!

Allied Properties REIT Announces Closing of Class I Office Acquisitions in Toronto – Allied Properties REIT – AP.UN-T

Allied Properties REIT has closed the acquisition of 49 Front Street East and 252-264 Adelaide Street East in downtown Toronto. Located on the south side of Front Street and one building east of Allied’s Beardmore and Perkins/Dixon buildings, 49 Front Street East is a Class I office property with 19,936 square feet of GLA. ….

Market Wire Fri Oct 01 2010

Canadian consumer confidence drops ’significantly’: RBC

Consumer confidence in Canada has dropped “significantly,” according to the September issue of the RBC Canadian Consumer Outlook Index. The report issued Friday, said consumer confidence in Canada had remained about the same as December 2009, but then fell 14 points from 108 to 94 in the three areas that make up the index: current conditions, expectations and personal investments.

Financial Post Fri Oct 01 2010

HST blamed for spending slowdowns

The harmonized sales tax introduced in two of Canada’s biggest provinces three months ago has been blamed for everything from a slowdown in consumer spending and a squeeze on home sales, to a rise in the federal deficit. The harmonized sales tax in B.C. and Ontario is being blamed for keeping customers out of stores.The harmonized sales tax in B.C. and Ontario is being blamed for keeping customers out of stores.

CBC Fri Oct 01 2010

Portland exemplifies the changing face of Toronto

As Old Toronto gives way to New Toronto, whole neighbourhoods are being remade in the image of a livable city. Downtown, both east side and west, areas once shunned are now sought after not just as places to work and play, but also to live. One of the prime examples is the district around King and Bathurst. Though long considered dodgy, it’s now at the heart of the 24-hour city ….

Your Home Fri Oct 01 2010

Canadian commercial real estate comeback

A recovering economy is fuelling a commercial real estate comeback, according to CB Richard Ellis vice-chairman John OBryan in the firm’s third-quarter report. BNN also speaks to Rob Renaud, vice-president advisory and corporate services, Newmarket, Knight and Devencore who reviews the cross-Canada industrial real estate market for autumn.

Globe and Mail Fri Sep 24 2010

Blockbuster Canada unaffected by U.S. bankruptcy filing – Blockbuster

Video rental giant Blockbuster Inc. is filing for bankruptcy protection in the United States, but its Canadian operations say they’re not affected by the reorganization. Blockbuster Canada vice-president and general manager Barry Guest said in a statement early Thursday that its operations are still profitable. “Blockbuster Canada operates independently of the U.S. and is financially stable,” he said.

Globe and Mail Thu Sep 23 2010 – Toronto Star

Monster Commercial Launches Website to Serve Canada’s Commercial Real Estate Sector – Monster Commercial

MonsterCommercial.com is a commercial real estate information service created to provide knowledge to commercial real estate tenants, investors and decision makers to help them decrease costs, increase operating efficiencies and make wise investment decisions. With a format of editorial and video content, Monster Commercial is a place where stakeholders in the commercial real estate community can engage with, and learn from others while being exposed to new ideas.

Monster Commercial News Release Wed Sep 22 2010

The Recession Has Ended; Someone Should Send the Memo to Tenants

The National Bureau of Economic Research — the official referee of the economy — announced this week that it determined that the recession ended and economic recovery began 15 months ago in June 2009. However, according to commercial real estate service providers, economic conditions for most American tenants are still in the pre-June 2009 cycle and a long way from the pre-recession years.

CoStar Group Thu Sep 23 2010

Businesses snap up Toronto office space

Office vacancy rates in downtown Toronto have “defied logic” as a burgeoning financial services industry takes advantage of falling rents to lease more space. It’s a flight to quality that is taking place in downtown office towers across the country as tenants take advantage of higher-than-usual vacancies to negotiate deals in towers that would have previously been out of their league.

Globe and Mail Wed Sep 15 2010

CB Richard Ellis forecasts incremental rebound for commercial real estate – CB Richard Ellis Group – CBG-N

After slipping into the red in early 2009, Los Angeles commercial real estate brokerage CB Richard Ellis Group Inc. climbed back to profitability as business improved and the company found new sources of revenue. CB Richard Ellis turned a profit in the second half of last year that was fueled by internal cuts and a real estate rebound in Asia.

LA Times Mon Sep 13 2010

32 commercial real estate sites you should be familiar with

I need to apologize to Duke Long as I gave credit to ROFO for this post, not true. Duke was the contributor of this great list! Agent Genius origional post

For anyone in CRE or considering getting into CRE, you should become familiar with the following sites:

ROFO- putting business and available space together. This site was honored with a Webby Award. This IS the future of commercial real estate online.

Arcestra- is a revolutionary 3D visualization and marketing online service that helps lease commercial real estate quickly. Did I say THIS is the future of commercial real estate?

Creopoint.com- they say 1) rapid access to businesses and experts 2) improved digital branding 3) wants/haves and corresponding invitations to network 4) member viewpoints and forums 5) CRE news aggregated from around the globe 6) industry-focused search to avoid clutter.  I say #1 worldwide commercial real estate network?

Mos Atlanta- the best personal commercial real estate agent blog out today. Period.

Argussoftware- the best software in commercial real estate for property management, asset valuation, portfolio management, budgeting, forecasting, reporting and lease management.

Loopnet- iPhone search app. One of the first.

Zstrata- commercial real estate CRM.

Space for lease- well… space for lease.

OSCRE- commercial real estate data standards. But, is it working?

Intelligent buildings- look in the library section. Great white paper intelligence.

Realcretv- commercial real estate TV. Yes ,yes, yes but, will anyone watch?

Green building law blog- just cool content.

Transaction data and analytics- if you are big time, this is a must have.

Real estate investing news watch- real estate investment blog and news aggregator. Great info.

Realcomm- commercial real estate corp., commercial real estate tech and automation.  A must attend event.

Core Net Global- big time corp. global association.

Green exam prep- LEED training classes. Green is gold. I can’t believe I still use that line.

CPExecutive- commercial real estate executive news. Here are the hitters and this is what they read.

Crew Crew Crew- commercial real estate women… love the ladies.

Real Estate Forum Magazine- hardcore corporate, but a must read.

Realcorner- I still think I’m banned or blocked or something.

Visual Lease- leasing software. Just stunning.

Google Sketch Up-  3D buildings. Still fun and cool to play with, but also practical.

Chain Links- retail leasing group.

Property Week- from the UK. Commercial real estate, best site over all.

Multi-family Insiders- the name says it all.

Investor Loft- investor database.

REIS- commercial real estate property stats and data.

Biggerpockets.com- 50,000 members and growing.

CCIM- the best Commercial Real Estate education, period.

Urban Land Institute- best overall commercial real estate organization.

Retail Traffic- design, development, retail, finance. Kick ass blog too.

Commercial Real Estate News Toronto – August 2010

The market has been busy for me over August.  I didn’t get to take a holiday!  If you would like additional information on the Toronto commercial real estate market reach out to me.

Artis REIT targets expansion in Toronto area – Artis REIT

Artis REIT is moving east, buying C$116.5 million ($114 million) worth of Toronto real estate after years of focusing nearly exclusively on Western Canada. Winnipeg, Manitoba-based Artis is part of a wave of Canadian real estate investment trusts targeting acquisitions this year, betting on Canada’s economic recovery and renewed demand for office space.

Reuters Wed Aug 04 2010 – Canada News Wire – Globe and Mail

Whiterock REIT’s Q2 operating profits rise – Whiterock REIT – WRK.UN-T

Whiterock REIT, a Toronto-based property owner, reports its operating profits in the second quarter rose to nearly $9.6 million from $9 million. The company said Tuesday its funds from operations, a widely used measure that reflects the financial health of publicly traded real estate companies, jumped to just over $6 million or 41 cents a diluted unit from $3.4 million or 39 cents.

Winnipeg Free Press Wed Aug 04 2010 – Canada News Wire

TREB Commercial REALTORS® Report Monthly Commercial Figures

In July, TREB Commercial Members reported 724,590 square feet of leased space – a 132 per cent increase from the 312,771 square feet of leased space recorded in July of 2009. By category, TREB Commercial Members leased 644,830 square feet of industrial space, up 176 per cent over last July’s total of 233,342 square feet. In addition, they leased 47,406 square feet of commercial space, up 20 per cent over July 2009’s 39,575 figure.

Market Wire Mon Aug 09 2010

$3.5-million, 125 metre flagpole planned for North York

Councillor Giorgio Mammoliti and one of his struggling North York neighbourhoods are on the verge of building the tallest flagstaff in North America. The 125-metre pole would bear a Canadian flag the size of a football field. Mr. Mammoliti and the Emery Village BIA approved in May a one-time special levy that will see the BIA’s 2,500 business owners pay the full $3.5-million cost of the flagpole.

Globe and Mail Fri Aug 13 2010

HST has greater impact than interest rates, says survey

A survey conducted by Royal LePage Real Estate Services says that people in Ontario and B. C. have misconceptions about how the Harmonized Sales Tax (HST) affects real estate transactions. When respondents were asked to provide examples of comments heard from buyers and sellers regarding the HST and its effect on the housing market, almost half of the comments indicated that confusion about HST remains more than one month after its introduction.

REM Online Mon Aug 16 2010

Commercial real estate rebounds in first half of 2010

The Canadian commercial real estate market rebounded sharply in the first half of 2010, with the value of deals increasing by 60 per cent as the debt markets recovered from the recession. CB Richard Ellis said in its Midyear National Investment Report that there were $7.8-billion of deals done from January to June, compared to $4.9-billion during the same period in 2009.

Globe and Mail Wed Aug 18 2010 – Financial Post – Market Wire

Office-Leasing Rebound Could Be Deceiving

Companies that sat on the sidelines during the darkest days of the economic downturn are increasingly making leasing commitments. In the 12 months that ended June 30, office tenants signed 161.3 million square feet in leases nationwide, according to Studley, a commercial real-estate brokerage firm. That is a 5.7% increase over the 12-month period ended in March.

Wall St. Journal Wed Aug 18 2010

Connect bike lanes through downtown, cyclist says

It’s a chance to finish an “incoherent patchwork” of bike lanes downtown, says a passionate cycling advocate, who is bringing a petition to do that to Toronto’s public works and infrastructure committee Wednesday. Alan Heisey wants city council to ensure there’s at least one more continuous north-south route between Bloor St. and the lake, and at least one complete east-west route south of Bloor St. for downtown cyclists.

Toronto Star Wed Aug 18 2010

Waterfront Toronto unveils plan for 1,700 condos, 2,400 jobs – Waterfront Toronto

Waterfront Toronto unveiled plans to build a massive $800 million neighbourhood Thursday. Developers have dubbed the new neighbourhood Bayside. Waterfront Toronto chose Hines, an American development company based in Houston, to build the project from a field of four finalists. Plans include 1,700 condominiums, office space for 2,400 jobs, a boardwalk and public access to a green roof overlooking the water.

Toronto Star Fri Aug 20 2010 – National Post – Globe and Mail

Combining the CNE and Ontario Place: Urban renewal on the lake

Once again we are about to experience the annual hand-wringing about the Ex: What will attendance be? Is it still relevant? And could this valuable site be better used? Coincidently, the province has just issued an RFI (Request for Expressions of Interest) seeking new ideas for its fading 39-year-old neighbour, Ontario Place.

Toronto Star Fri Aug 20 2010

Commercial real estate investment up in Toronto – Avison Young

Commercial real estate investment in Toronto in the first half of the year well exceeded its 2009 totals, new data from brokerage firm Avison Young shows, however the impact of the HST introduced in July remains to be seen. Overall investments in the Greater Toronto Area over the first six months of the year totalled $3.5-billion, more than double the $1.4-billion invested in the first half of 2009.

Financial Post Fri Aug 20 2010 – Canada News Wire

HST blamed for drop in sales across the country

Housing sales were down 30% in July from a year ago, and the Canadian Real Estate Association blames the drop on the new harmonized sales tax in Ontario and British Columbia. The Ottawa-based group, which represents 100 real estate boards across the country, said July sales fell 6.8% on a seasonally adjusted basis from the previous month, a decline “almost entirely the result of fewer sales in B.C. and Ontario.

Financial Post Sun Aug 22 2010

Goodbye office, hello ‘desk on demand’

Few rooms invite envy like your boss’s corner office. It has a desk that’s bigger than your cubicle, a great view and a nameplate on the door. The room is ridiculously big, and that’s the point – the extra space marks her status. One might expect a traditional hierarchy of offices at the Wellington St. W. offices of IBM, in the classic TD Waterhouse Tower.

Toronto Star Fri Aug 27 2010

TTC meets to discuss new head office

The Toronto Transit Commission will decide at a special meeting Friday whether to proceed with the lease of a new headquarters at Yonge St. and York Mills Rd. The new office space, being developed by Build Toronto, the city’s arm’s-length real estate corporation, would be located on TTC property and replace the transit agency’s Davisville headquarters.

Toronto Star Fri Aug 27 2010

Toronto Commercial Real Estate News – August 2010 – Business confidence improving as Greater Toronto Area office market

Toronto council approves Lawrence Heights redevelopment

Proud Lawrence Heights resident Marian Mohamud is thrilled “The Jungle” will soon be tamed. The 20-year revitalization, similar to one that is now transforming Regent Park, is moving ahead despite strong opposition from some north-end neighbours who argue the injection of up to 16,000 new residents will overwhelm the Lawrence Ave.-Allen Rd. area.

Toronto Star Wed Jul 07 2010

Ghostly Toronto structure could get new lease on life

It’s loomed for years overlooking Spadina Avenue like a ghostly, gabled reminder of Toronto’s Victorian past. But the 135-year-old Gothic Revival structure at 1 Spadina Cres. – just north of College Street – could soon undergo an ambitious renovation and expansion, according to a plan actively being considered by the University of Toronto and the John H. Daniels faculty of architecture and landscape design.

Globe and Mail Mon Jul 12 2010

Yahoo Pairs with Zillow on Real Estate Listings

In a bid to beef up its home-buying features and lure local advertisers, Yahoo! is adding home listings from Zillow, an online real estate service that lets users research the value of homes. Pairing with Zillow.com boosts Yahoo’s home listings to about 4 million from 3 million and gives the company a bigger slice of the ad market for smaller-sized businesses.

Business Week Mon Jul 12 2010 – Wall St. Journal

TTC must capitalize on its real estate

If the Toronto City Summit Alliance’s recent roundtable on funding the future of transit is any indication, Toronto is doomed to transit stagnation. Promoted as a ‘bold’ search for solutions, attendees discussed the merits of road tolls, congestion charges, commercial parking levies or increased property taxes — far removed from anything truly bold.

National Post Fri Jul 16 2010

Complete makeover for Ontario Place

Ontario Place, a fading Toronto icon, will soon be torn down and replaced by a newer version to restore the park to its former glory. The provincial Crown corporation has put out a formal request for ideas to completely redevelop its 39-hectare (96-acre) space along Lake Ontario, which will probably result in the removal of features, such as the once groundbreaking Cinesphere.

Toronto Star Fri Jul 16 2010

Spirit of Maple Leaf Gardens lives on in reno

With eight months left in the $60-million Ryerson University renovation of the upper portion of Maple Leaf Gardens, new sketches of the plans show an effort to keep the spirit of the former hockey shrine in the new, scaled-down rink. Ryerson, which is sharing the building with its new owner, Loblaw Cos. Ltd., is planning a student athletic centre for the building’s new second storey, with the rink on the floor above.

Globe and Mail Fri Jul 23 2010

National office vacancy rates hit five-year high – Cushman & Wakefield

The national office vacancy rate reached 9% in the second quarter of 2010, continuing a trend that started in the fourth quarter of 2008. This rate was up from 8.8% in the first quarter and was its highest level since the second quarter of 2005. According to the most recent numbers from Cushman & Wakefield, the increase was largely due to the addition of 1.5 million square feet of new supply.

Daily Commercial News Wed Jul 28 2010

CBRE upbeat on global recovery – CB Richard Ellis – CBG-N

CB Richard Ellis Group, the world’s largest real estate consultancy, has reported the strongest growth in revenue and earnings since 2007 as it has benefited from the global recovery in commercial property activity. CBRE, whose main business is advising on the acquisition and leasing of commercial property around the world, has been one of the main beneficiaries of improving market conditions.

Financial Times Wed Jul 28 2010 – LA Time – Reuters

Business confidence improving as Greater Toronto Area office market – Avison Young

Despite continued rising vacancy levels in the Greater Toronto Area (GTA) office market, strengthening business confidence has led to a surge in tenant leasing activity – especially in Downtown Toronto. Though the market remains in the red, a shrinking new-supply pipeline and limited quality space alternatives for larger tenants may alter fundamentals in the coming quarters.

Canada News Wire Wed Jul 28 2010

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