Results for: Rona, one of Canada’s leading home improvement retailers, has announced plans to convert 15 of its big box stores to the Rona+ banner in May 2025. The move is part of the company’s strategy to strengthen its sole retail brand in Canada. Rona previously rebranded former parent Lowe’s stores as Rona+ after New York-based private-equity …
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Menkes Developments and QuadReal Property Group have topped off a landmark four-tower condominium community in Vaughan, Ont. The Festival development is located in the south Vaughan Metropolitan Centre (VMC.) The milestone marks the completion of the exterior structural framework for all four towers. Standing at about 626 feet, Festival’s tallest tower is now the highest …
Canadian entrepreneur Kevin O’Leary plans to develop a $70-billion data centre industrial park near Grande Prairie, Alta. Dubbed Wonder Valley, the proposed Northwestern Alberta project is designed to be the world’s largest AI data centre. If all goes according to plan, it will be built in the Municipal District of Greenview’s Greenview Industrial Gateway (GIG.) …
Onni Group is proposing to eliminate office space from its seven-tower mixed-use development on the former Coquitlam College campus in Coquitlam, B.C., according to a published report. The company has cited challenges to the office leasing market resulting from the effects of the COVID-19 pandemic as the reason for the change of plans. The project …
The BMI Group has acquired the former paper mill site in Baie-Comeau, Que., and launched a redevelopment project on it. The 2,800-acre property is set to become the Norderra Multi-Modal Industrial Hub. This ambitious project aims to bolster regional industrial development and enhance Canada’s resource supply chains. In partnership with the Port of Baie-Comeau, the …
The Body Shop Canada has secured a buyer, bringing an end to more than nine months of creditor protection. The retail chain, known for its distinctive creams, lotions, and perfumes, will seek court approval Friday to sell its remaining assets to Serruya Private Equity. Markham, Ont.-based Serruya is buying the Body Shop Canada from the …
VICI Properties has amended its master lease agreement with PURE Canadian Gaming following the acquisition of PURE’s operating assets in Alberta by an affiliate of Indigenous Gaming Partners. The lease amendment includes VICI’s consent to the assignment of the master lease to IGP, a newly formed partnership of five Nova Scotia-based First Nations. The First …
West Vancouver council has granted final approval to the Cypress Village mixed-use project that will include the development of new homes for about 7,000 people. Located near the Cypress Bowl ski slopes on Cypress Bowl Road, the mountainside mixed-use project will include 3,711 multi-residential units and hundreds of acres of parkland and commercial spaces. The …
Montoni and the Fonds immobilier de solidarité FTQ and Groupe Montoni have reconfirmed plans to develop 5,000 multi-residential homes on the former Molson Brewery site in Montreal. The Quebec-based firms have unveiled their vision for the massive project after firming up ownership of the site earlier this year. The companies said their goal is to …
Leyad has acquired the South Hill mall in the secondary market of Prince Albert, Sask. The Montreal based investment and development company made its third large shopping centre purchase in the northern Saskatchewan community after previously acquiring the Cornerstone and Stockyards malls. “With the acquisition of South Hill mall, Leyad continues to fulfill its commitment …
JLL has added six industry leaders to its Greater Toronto Area industrial real estate brokerage team. Luis Almeida has been appointed as an executive vice-president. He also serves as president of SIOR’s Canada Central chapter. Also joining JLL are Daniel Smith (senior vice-president); Kevin Irandoust (associate vice-president); Rodrigo Silva (associate vice-president); Jakub Vidimlic (senior sales …
The Bank of Canada implemented another oversized interest-rate cut on Wednesday as part of an ongoing monetary easing policy. The 50-basis-point cut marks the central bank’s fifth consecutive reduction since the summer of 2024 after a lengthy period of hikes and holds, bringing the overnight lending rate to 3.25% from its former 3.75% level. BoC …
Burnaby city council has approved new bylaws to comply with provincial transit-oriented development (TOD) legislation. The approval brings Burnaby’s TOD policies in line with the B.C. government legislation enacted in 2023. The provincial legislation requires municipalities to implement policies that correspond to it as the B.C. seeks more high-density housing near major transit hubs. Burnaby …
Brookfield Properties has unveiled plans to give the Suncor Energy Centre (SEC) office building a $90 million worth of upgrades that will feature an amphitheatre, food hall, restaurant, terrace, and gathering spaces. The redevelopment project has been in the works for months. In the summer of 2024, a historic bush plane that had been in …
The Fonds de solidarité FTQ has sold the Galeries Laval shopping centre for $126 million to Jadco Corporation, according to multiple reports. The transaction marks a significant step in the ongoing transformation of Laval’s downtown area, where the mall is located near the Montmorency metro station, according to La Presse. The buyer, Laval-based Jadco, has …
The Gupta Group has commenced construction on Yonge City Square, the first new multi-residential project in Toronto’s Hoggs Hollow neighbourhood in more than two decades. Gupta hosted a groundbreaking ceremony at condominium project site at 4050 Yonge Street to celebrate the milestone. The company said Yonge City Square is also the city’s largest residential project …
R2 Capital has acquired a landmark 160,000-square-foot office building in uptown St. John, N.B., at a heavily discounted price. The company said it bought the building located a 400 Main Street, for a price of $17.50 per square foot—significantly below replacement cost—that works out to a total cost of $2.8 million. Brunswick Realty’s online listing …
Colliers has expanded and extended its unsecured multi-currency revolving credit facility to US$2.25 billion. The new agreement, which matures in November 2029, replaces the previous facility set to expire in May 2027 and increases borrowing capacity by $500 million from US$1.75 billion. The increase comes as the Bank of Canada is steadily lowering interest rates. …
Global tech firm Thrive has announced plans to open a new data centre in Montreal. The new facility will support Thrive’s private cloud-based computing offering and enhance its ability to provide secure and reliable data services to Canadian businesses, the company said in a news release. Thrive did not provide details on the facility’s physical …
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