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A new Bank of Montreal report says the closing of Sears' final stores will not have a major or lasting effect on Canadian REITs. 
The research report, released after the announcement Sears was shuttering its final 130 stores in Canada, found REITs would only be minimally affected by the closure. “REITs that have the retailer as a tenant typically only have low single-digit exposure on…
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11 Toronto Transit Projects Receive $30.6M In Federal Funds
The federal government has set aside $30.6M for 11 Toronto projects as part of the Public Transit Infrastructure Fund. The new PTIF funding includes $10M for Transit Priority Measures and $1.1M for five projects for the ongoing Union Station renovation.…
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Downtown Toronto's Office Vacancy Rate Hits New Low
Toronto's downtown office vacancy rate hit a new low in the third quarter, according to a new Avison Young report. The report found Toronto's red-hot downtown market had reached another milestone with overall availability (6.4%) and vacancy (2.7%) falling to historic lows —…
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Great Gulf To Develop Mirvish-Gehry Towers
Great Gulf has reached an agreement with Ed Mirvish Enterprises to buy the proposed two-tower Frank Gehry-designed project in Toronto's downtown entertainment district. “I am pleased to have concluded a transaction with Great Gulf that will see the realization and…
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Workplace Design Is Changing, Part 1: It's All About Employee ConvenienceWhile one-size-fits-all has ruled office design in recent years, this trend is dissolving and being replaced with a much more flexible approach to the workplace. Companies are instead moving toward an activity-based workplace design, which aims to incorporate a variety of different workspace preferences to attract and retain employees. |
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All Is Not Lost In Wine Country Hospitality After FiresIt has now been over a week since California's Wine Country fires began. Over 200,000 acres have burned and over 5,000 structures have been lost, including hotels like the Hilton Sonoma Wine Country. Vineyards and wineries in Sonoma and Napa counties sustained heavy damage and some are completely gone. For an area that relies on its wines, countryside and its visitors, the next few weeks and months will be rough. The hospitality industry has taken a big hit. Even with much at stake, experts and hoteliers remain hopeful the region will rebound quickly. |
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