Archive for the ‘Market Info’ Category

Colliers Market Info

November 5, 2008

Market information – Colliers Knowledge Exchange

Who put the Green in commercial real estate

October 25, 2008

Some articles on Green Commercial Real Estate in the news over the last month.

Green buildings and the federal election – The Royal Architectural Institute of Canada (RAIC) and the Canada Green Building Council (CaGBC) have adopted goals for reducing green house gas emissions and introducing environmentally sustainable building practices by certain times. How do their goals compare to those established by the current Federal Government and the Parties running in the Federal Election?
Real Estate News Exchange, Sep 30, 2008

Global growth for green building projected in study – A study of construction professionals around the world has found that the majority expect more than 60 percent of their projects will be focused on green building within the next five years. Environmentally friendly building currently accounts for more than 10% of domestic projects in the U.S. for almost a third of the respondents who participated in the study. It is the first to examine green building market trends and drivers on a global scale, according to McGraw-Hill Construction Analytics.
GreenerBuildings.com, Oct 01, 2008

Oxford Properties Calculates its Carbon Footprintoxfordproperties.com – As one of the largest real estate investment firms in Canada, Oxford has recognized that it has an important role to play in the fight against climate change, launching Oxford Sustainable Intelligence to integrate sustainability into their global operations. Recognizing the opportunities Oxford has committed to becoming an industry leader in adopting the principles of sustainability – and in putting them into measurable action.
Partners in Project Green, Sep 30, 2008

Woodbine Recognized for Green Initiativeswoodbineentertainment.com – Woodbine Entertainment Group (WEG) was the only Canadian organization to appear Buildings Magazine’s 2008 Honour Roll. Since its inception in 1906 Buildings Magazine has been recognizing companies and organizations that have helped define the commercial and institutional building industry. WEG, recognized for its horse-racing operations, is on the fast track to environmental sustainability and smaller energy bills.
Partnership in Project Green, Sep 30, 2008

Honeywell opens green office complex – Honeywell held a grand opening for a new, green office complex in the Town of Markham, which is part of North America’s largest mixed-use, sustainable development. Honeywell, a global leader in energy services and green building solutions, consolidated two of its offices, moving approximately 400 employees into the Leadership in Energy and Environmental Design(R) (LEED)-registered complex. The office will serve as the new Canadian headquarters for the Honeywell Building Solutions business.
Canada News Wire, Sep 25, 2008

Greenbelt Contributes $2.6B to Local Economy: Report – A new report released by the David Suzuki Foundation with support from the Friends of the Greenbelt Foundation has found that Ontario’s Greenbelt contributes $2.6 billion worth of non-market ecological services to the province each year, an average value of $3,487 per hectare. “[This figure] is a good reminder to decision-makers that if we don’t protect our greenspaces, we’ll end up paying a higher price in the future, not just with our health and the planet’s health, but economically as well,” said Dr. David Suzuki, co-founder of the David Suzuki Foundation.
Renew Canada, Sep 12, 2008

Greening Your Commercial Space – Historically, when supply far exceeds demand, tenants gravitate to properties where rental rates are low, operating expense reimbursements are minimized, tenant improvement dollars are maximized and other tenant benefits—such as multiple options on renewal periods—are offered to them when deals are struck. However, a new category of tenant benefits has arisen. Call it the ‘greening’ of the commercial real estate industry, where sustainable environments are increasingly important within the workplace.
Globe St., Sep 19, 2008

Water Savings 101: Top 10 Tips for Commercial Buildings – As the hurricane season begins to bring torrential downpours from Texas through the Southeast and up to the mid-Atlantic states, it makes folks forget that wide swaths of the country are still suffering through persistent drought and low levels of water supply. While agriculture, power generation and other industrial uses account for a large portion of water consumption in the U.S., the built environment is responsible for a significant portion.
GreenerBuildings.com, Sep 12, 2008

Green condo roofs gain popularity in Toronto – Green has hit the condominium roof. Although the greening of roofs is relatively new in Canada, Toronto is the country’s leader in green roofs. In fact, the city claimed the Canadian top spot in 2007 for the most green roof space added in a year (more than 7,700 square-metres). Environment Canada’s 2002 Green Roof report estimated that greening 6% of Toronto’s rooftops – about 6.5 million square metres would reduce the city’s summer air temperatures by 1 to 2 degrees Celsius.
Toronto Star, Sep 28, 2008

Toronto plan targets faulty apartment towers – Toronto can use its aging highrise apartment towers to curb climate change, create jobs and foster vibrant new neighbourhoods, says Mayor David Miller. But some skeptical councillors warned that Miller’s tower renewal project will provoke resistance from local residents. Miller’s proposal to reinvigorate more than 1,000 apartment towers built in the 1950s, `60s and `70s has two prongs. The first is environmental: The towers were built when energy was cheap.
Toronto Star, Sep 12, 2008 Globe and Mail, Sep 12, 2008

Newspaper articles and real estate market info

October 24, 2008

Following up from yesterday’s articles, here are a few more to keep you up to date on todays real estate market.

Link

Possible Toronto property-tax spike in sight – A possible property-tax increase of between 2 and 4 per cent looms next year for Toronto residents, Mayor David Miller said yesterday, even with city departments and agencies told to hold the line on spending for 2009. With tough labour negotiations set to begin later this year with unions, departments and agencies have been told to cut a further 2 per cent from their budgets because of wage settlements expected by next spring.
Globe and Mail, Oct 08, 2008 Globe and Mail (second article), Oct 08, 2008

White-collar sector critical to commercial real estatecushwake.com – Ongoing strength in Canada’s commercial real estate markets must include continued growth in the “white-collar” sector. “We need continued investment and resurgence in these modern white-collar factories,” said Paul Morse, senior VP, general manager and national practice director for Cushman & Wakefield LePage. The building and renovation of office space in downtown city cores across Canada is keeping businesses and workers in the downtowns of cities instead of the suburbs.
Journal of Commerce, Oct 09, 2008

CREA dismisses Merrill report of housing free fall – Canada’s real estate industry has gone into damage-control mode to quell fears the country’s housing market could enter into a U.S.-style free fall. Industry representatives held a conference call yesterday to refute a report by Merrill Lynch Canada Inc. that suggested Canada’s housing market was at risk of heading for the same perils as the U.S. The Merrill report created a stir, even prompting the Prime Minister to say Canada’s housing and construction markets remain stronger than those in the U.S.
Globe and Mail, Oct 10, 2008

The city’s land portfolio changes hands – On the surface, the obliteration of the Toronto Economic Development Corporation (TEDCO) looks like another in a long string of power plays by Toronto Mayor David Miller. Last week, Mr. Miller announced the city would split up TEDCO into two separate agencies: Build Toronto would manage, develop and otherwise attempt to extract value from the $17.9 billion worth of property owned by the City of Toronto; Invest Toronto would take over the business-promotion functions currently controlled by TEDCO.
Globe and Mail, Oct 10, 2008

Avison Young announces merger agreementavisonyoung.com – Avison Young shareholders and partners of Avison Young companies located in Alberta, British Columbia and Ontario have closed on a merger agreement to create Avison Young (Canada) Inc. The new company creates a national platform that, combined with its affiliates, will form Canada’s largest independently owned commercial real estate services company, operating under the Avison Young brand. Avison Young (Canada) will be headquartered in Toronto, Ontario.
Canada News Wire, Oct 14, 2008

Toronto mayor calls for a freeze on new project levies – The credit crunch has prompted Mayor David Miller to propose a freeze on development charges as a way to help the development industry. The levies – one-time charges on new projects to pay for infrastructure – have been bringing in about $50 million annually. They should be frozen at current rates through 2009, Miller said yesterday. A report to be unveiled Thursday indicates development charges should be doubled. Miller is asking city council to support a freeze instead.
Toronto Star, Oct 20, 2008

Real Estate Market Info

October 22, 2008

Here are some headlines and real estate information I have been tracking through October.  The files above are supposed to symbolize the articles I have gone through this month to come up with these!

Link

Realex Properties completes acquisition of office portfoliorealexproperties.ca – Realex Properties has completed its previously announced acquisition of a portfolio of 6 office buildings located in Kitchener and Waterloo, Ontario, comprising approximately 932,000 sq. ft. of rentable area, approximately 2,000 parking stalls and 470,000 sq. ft of development entitlements. The development entitlements include lands held for development, an option to purchase a leasehold interest in an additional building as well as options to jointly develop certain lands.
Canada News Wire, Oct 01, 2008

Canadian pension funds eye European property spree – Equity-rich Canadian pension funds are leading a stampede of international investors looking to cash in on steep commercial property price declines across Europe, a report on Friday showed. Global property consultant DTZ said Canadian pension funds and property companies such as Cadillac Fairview and Brookfield Properties, were planning to increase their exposure to real estate by around $50-billion (U.S.), with much of this planned new investment destined for Europe.
Globe and Mail, Oct 03, 2008 Toronto Star, Oct 03, 2008 Guardian.co.uk, Oct 03, 2008

Massive project set for Sheppard/Don Mills – One of the world’s largest real estate developers will debut its first major project in Toronto with an ambitious condominium development in North York. This month, El Ad Group, the international real estate company owned by Israeli billionaire Yitzhak Tshuva, will open its 4,500-square-foot sales centre for Emerald City, a six-tower, master-planned community on Sheppard Avenue, across from the refurbished Fairview Mall and Don Mills subway station.
Globe and Mail, Oct 03, 2008

New public transit plan for GTA thin on funding details – Metrolinx, the provincial agency mandated by Queen’s Park to develop a regional transportation plan, formally presented a draft plan at its meeting on Sept. 26. Metrolinx is to be commended for delivering a plan that will result in significant transportation improvementsin the GTA and beyond. Although the transportation plan, branded as “The Big Move,” envisions a massive $50 billion expansion of the public transit system over 25 years, the plan contains an expenditure of only $11.5 billion.
Toronto Star, Oct 03, 2008

Massive tower moving ahead at Yonge-Bloor – The architect behind an 81-storey building at Yonge and Bloor vows the current economic slowdown won’t jeopardize the project. Architect Roy Varacalli said construction is expected to start in November and the project will take about 40 months to complete. The tower project took another step toward final approval from the city yesterday. It’s set to include condo and hotel units as well as retail and office space, and now heads to city council for a final decision at the end of the month.
Toronto Star, Oct 08, 2008

Office Survey for a Client

October 20, 2008

Here’s an example of the type of information I put together for my clients.  This would also include an electronic spreadsheet showing the pricing and particulars of each property.  In this case, it’s for a 8,000 sf call center in the Midtown Toronto / North Yonge Corridor.  Want to find space in your size range and area?  Just call or email me chris@officesearchtoronto.com or 416-992-9869!

Office Space Survey

This is a big file, so be patient!

The Plans for the 1.55-Mile-High Skyscraper in, You Guessed It, Dubai

October 19, 2008

Link

Forget the 3,280 feet-high 200-floor Nakheel Tower because it’s no longer going to be the highest skyscraper in the world. The new upcoming beast is this amazing 1.55-mile-high skyscraper planned for the Jumeirah City project in Dubai. The building is so tall that its main elevator is in fact a vertical 125mph bullet train. This city-in-a-skyscraper will consume 37,000 megawatts per hour per year, with a 15MWH peak usage, but as the plans show, it has been designed to generate most of it using wind, thermal, and solar power:

If completed, the Dubai City Tower, would definitely be absolutely breathtaking. I wonder how many slaves would have to die to complete this one.

Colliers Market Update

October 17, 2008

Here are Colliers International recent updates for market information in the Downtown, Midtown and Greater Toronto Area Markets.

Downtown
Downtown West
Midtown
GTA

What market info do you want to see on this website?  Deals done, available space, future outlook… what’s your opinion?

World’s largest LED screen coming to Dubai

October 12, 2008

Link

By this point, you should fully understand that “Dubai” and “world’s largest” go hand-in-hand, so it’s quite fitting that said city is receiving the planet’s most humongous LED screen. Designed by UAE development company Tameer Holding, the 33-story high display will reportedly be “embedded on an intended commercial tower in the Majan district of Dubailand,” where it will stand tall and blast out advertisements to onlookers some 1.5-kilometers away. Dubbed Podium, the building will also house 33 levels of “premium commercial office space, two floors dedicated to retail and four floors for parking.” There’s no word on when the project will be completed, but we don’t suspect Tameer will be dragging its feet in getting this up.

New Mississauga tower?

October 7, 2008

http://blog.sellsiusrealestate.com/architecture/mad-architecture/2008/10/02/

MAD Architecture

Published by Joseph Ferrara October 2nd, 2008

These MAD architects are based in Beijing, China.

Absolute Towers (Toronto, Canada)

New tower a good sign, says mayor

October 6, 2008

http://www.thestar.com/article/511711

Shows investors upbeat about Toronto’s future
Oct 04, 2008 04:30 AM

City Hall Bureau

The gyrating markets are making people nervous, but yesterday’s groundbreaking for a 26-storey downtown office tower shows big-time investors remain confident in Toronto’s future as a financial centre, says Mayor David Miller.

Miller praised the British Columbia Investment Management Corporation (bcIMC), which invests pension funds, for funding the project despite economic uncertainty.

“I think all of us are extremely concerned about the news from the United States,” he said. “And the willingness of bcIMC to invest in the future of Toronto and to understand that Toronto does have a successful and bright future means a lot to us.”

The 650,000-square-foot building at 18 York St., to house accounting firm PricewaterhouseCoopers, will occupy the northwest corner of York and Bremner Blvd., just west of the Air Canada Centre.

It joins the Telus building under construction across the street in helping to extend the downtown business district south of the rail corridor, Miller said.

About three million square feet of office space are going up in Toronto.

Construction of 18 York is expected to be done by fall 2011.