Daily Market Update

by REP11 Feb 2015

Industrial market shows signs of growth in Calgary
As uncertainty looms for residential real estate in Calgary, the industrial sector is doing well according to an article in the Calgary Herald. Leasing activity in Calgary’s industrial real estate market in 2014 was the highest it’s been in eight years. A report by Colliers International in Calgary says there was just over five million square feet of positive absorption – the change in occupied space – last year – the highest yearly absorption since 2006.

Chinese investors keen on wineries in B.C. over residential land: realtor
According to an article in the Financial Post, Chinese investors are looking for new ways to invest their money instead of just flipping houses. The solution? Wineries.

Vancouver has been a top destination for Asian immigrants for decades, helping make it Canada’s most expensive housing market and one consistently ranked as North America’s least affordable. Houses and luxury condos in the Vancouver area have been the investment of choice for Chinese investors putting money abroad.

But with the Vancouver market looking pricey, many of these investors are seeking other opportunities. They range from hotels and golf courses targeting Chinese tourists to berry farms, mineral water sources, and wineries that export to Asia, and realtors are capitalizing on all the possibilities.

Target reaches deal to sell store leases
According to an article on CBC.ca, Target Canada has reached an agreement with its landlords on the sale of leases for the closing of Target retail stores.

Documents filed with an Ontario court cite both sides have agreed to a court-appointed monitor to supervise the sale, which shifts control away from Target Canada.

The retailer has also set May 15 as the deadline for wrapping up the sale of the leases, with an final date set for June 30. If a lease isn't sold by the June deadline, then the rights will be returned to the landlord, according to the documents.

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