Articles from Connect CRE

NewCold, a Dutch logistics firm, is finalizing a $222-million fully automated cold-storage warehouse in Coaldale, Alberta. The facility, designed for energy efficiency and automation, will store 56,000 pallets of frozen food and create 50-60 local jobs. A 2.6-kilometre rail spur will connect the facility to the Canadian Pacific Kansas City network, enhancing export capabilities. Alberta invested $2.1 million, and the project is expected to boost the local economy and agri-logistics sector.

NewCold, une entreprise logistique néerlandaise, achève la construction d'un entrepôt frigorifique automatisé de 222 millions de dollars à Coaldale, en Alberta. Ce centre, conçu pour être économe en énergie et automatisé, aura une capacité de stockage de 56 000 palettes de produits congelés et créera 50 à 60 emplois locaux. De plus, un embranchement ferroviaire de 2,6 kilomètres reliera le site au réseau ferroviaire Canadian Pacific Kansas City, améliorant ainsi les capacités d'exportation.

BC Hydro has launched 22 new public fast-charging hubs for electric vehicles on commercial properties throughout British Columbia, tripling its EV charging network's size over the past year. The expansion brings the total to 591 charging ports, with plans to reach 800 by 2026. This initiative, supported by partnerships with governments and communities, seeks to promote cleaner transportation and reduce emissions. The latest rollout features advanced 350-kilowatt fast chargers, with 400-kilowatt units expected soon.

BC Hydro a inauguré 22 nouvelles stations de recharge rapide pour véhicules électriques sur des propriétés commerciales en Colombie-Britannique, triplant ainsi la taille de son réseau en un an. Cette expansion porte le total à 591 ports de recharge, avec l'objectif d'atteindre 800 d'ici 2026. L'initiative, soutenue par des partenariats avec les gouvernements et les communautés, vise à promouvoir un transport plus propre et à réduire les émissions. La mise en service comprend des chargeurs rapides de nouvelle génération de 350 kilowatts, avec des unités de 400 kilowatts attendues bientôt.

Rosefellow has purchased a portion of the Méga Centre Notre-Dame mall in Laval, Quebec, for $75 million with plans to redevelop it into a $200 million industrial campus. The project will feature three LEED and Zero Carbon-certified industrial buildings totaling 550,000 square feet. The development aims to target high demand for industrial space due to its strategic location near major amenities and a large labor pool. The demolition for the redevelopment is set to begin after existing leases expire at the end of 2025.

Rosefellow a acquis une partie du méga centre commercial Notre-Dame à Laval, Québec, pour 75 millions de dollars avec l'intention de le transformer en campus industriel de 200 millions de dollars. Le projet comprendra trois bâtiments industriels certifiés LEED et Zéro Carbone, totalisant 550 000 pieds carrés. Ce développement vise à répondre à la forte demande de l'industrie en raison de sa localisation avantageuse à proximité de commodités importantes et d'une grande main-d'œuvre. Les démolitions devraient commencer lorsque les baux actuels prendront fin fin 2025.

Loblaw is expanding its Maxi discount grocery chain into New Brunswick by opening a new store in Caraquet this fall. This 15,000-square-foot store at Place Saint-Pierre will be Maxi's first location outside Quebec and will generate around 30 new jobs. The expansion aligns with Loblaw's strategy to increase their small-footprint store presence across Canada. Maxi aims to resonate with the local community's francophone heritage and values.

Loblaw étend sa chaîne d'épiceries à prix réduits Maxi au Nouveau-Brunswick avec l'ouverture d'un nouveau magasin à Caraquet cet automne. Cette boutique de 15 000 pieds carrés, située à Place Saint-Pierre, est la première implantation de Maxi en dehors du Québec et devrait créer environ 30 nouveaux emplois. Cette expansion s'inscrit dans la stratégie de Loblaw visant à accroître la présence de ses magasins compacts à travers le Canada.

The Public Sector Pension Investment Board (PSP) has acquired full ownership of The Wharf, a mixed-use waterfront development in Washington, D.C., for approximately US$1.8 billion. PSP took over from its development partner Madison Marquette and now controls the 3.5-million-square-foot area along the Potomac River. The acquisition is intended to continue enhancing The Wharf's status as a cultural and commercial hub, with a focus on optimizing its operations and community engagement. Madison Marquette expressed pride in its role in transforming the area over the past 15 years.

Newly elected Prime Minister Mark Carney, leading a minority Liberal government, faces several commercial real estate challenges. Key issues include dealing with U.S. tariff threats, boosting investment in electric-vehicle and battery manufacturing, and doubling Canada's housing supply. Carney's promises include establishing a federal housing development corporation and avoiding a capital-gains tax increase. Strategic alliances with other parties may be necessary to achieve these goals due to the Liberals' minority status.

Shindico, a Manitoba-based commercial real estate company, is planning to invest in downtown Calgary, potentially converting excess office space into multi-family housing. The company aims to leverage Calgary's Downtown Development Incentive Program (DIP), which offers financial incentives for such conversions. Shindico's president, Sandy Shindleman, emphasized the strategic diversification this investment represents and highlighted their longstanding presence in other Canadian provinces like Alberta, Saskatchewan, Ontario, and Quebec. Celebrating its 50th anniversary, Shindico plans careful expansion without establishing a new construction firm in Calgary.

Vancouver city council has approved the Jericho Lands redevelopment project on the city's west side, which will transform a 90-acre site into a mixed-use community over the next 30 years. The project, led by MST Development Corporation—a partnership involving local First Nations and Canada Lands Company—will deliver 13,000 homes, including social housing units, and create approximately 3,000 jobs through commercial and retail spaces. The development will also feature parks, cultural spaces, a community center, a new elementary school, and a proposed SkyTrain station.

Toronto city council has approved 18 new multi-family residential projects, including a plan to convert a nine-storey office building into a 52-storey mixed-use tower at 111 Peter Street. This cornerstone project by Capital Developments and Industrial Alliance Insurance will offer 852 residential units and retail space, designed by WZMH Architects. The broader developments will include additional high-rise residential conversions and new constructions across downtown Toronto. These efforts reflect a significant shift in city planning towards urban mixed-use and residential enhancements.

Former executives of Pelican International, along with Groupe Mach, are planning to acquire the financially troubled company through a court sale process, as reported by La Presse. The sale involves a single-phase auction process approved under the Companies' Creditors Arrangement Act, focusing on selling Pelican's business and assets, including their main operations in Quebec. The new ownership group plans to retain nearly all employees, and additional offers are being sought for GSI Outdoors, an affiliate not part of the CCAA proceedings.

Choice Properties REIT has purchased nine industrial properties across Canada for $340.3 million. The acquisitions include a distribution center in Ajax, Ontario, leased back to Loblaw, and eight undisclosed outdoor-storage sites from a third party. Choice plans to focus on capital preservation, cash flow growth, and advancing its commercial development pipeline in 2025, backed by necessity-based and logistics tenants. These strategic investments highlight Choice's commitment to leveraging its strong tenant base and balance sheet for sustainable growth.

TD Bank Group is set to open a new Layer 6 office in New York City, aiming to expand its artificial intelligence research and development in the U.S. The new office will be located at One Vanderbilt and will initially house a team of 20 specialists to support the bank's U.S. operations. Layer 6, known as TD’s AI innovation hub, plays a crucial role in the bank's strategy to remain at the forefront of banking innovation through AI technology. This expansion highlights TD's commitment to deepening its presence in New York City and advancing its technological capabilities.