Commercial Real Estate News Toronto – October 2010

Office Search Toronto - News

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.

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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