Author: Jennifer
Hamilton’s DRP discusses Delta Secondary
This week witnessed a light amount of transactions. However, January is typically a slower month.
The largest transaction took place in Hamilton, where a trucking company purchased 86,000 sq. ft of industrial buildings situated on approximately 20 acres of land for $25.5 million ($297/sq. ft).
Coincidentally, the second largest purchase occurred in Stoney Creek by another trucking company that purchased 19.58 acres for roughly $8.2 million ($420,000/acre).
In the news, Hamilton’s DRP reviewed the development plan for Delta Secondary, an environmental group filed for a judicial review of Hamilton‘s boundary expansion, and HOPA expanded its industrial inventory with a large acquisition along the Welland Canal.
If you’re interested in learning what happened in Hamilton during 2022 and the trends heading into 2023, please join me at The Hamilton Commercial Real Estate Report: Year in Review at CoMotion on King at 115 King St. E. on January 25 at noon. RSVP today!
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines
Hamilton Design Review Panel to discuss Delta Redevelopment
The Public Record, January 10, 2023
Group files for judicial review over Hamilton urban boundary
CBC News, January 9, 2023
HOPA expands industrial inventory at Thorold port lands
RENX, January 9, 2023
Ford, Horwath at odds on development fee cuts
CBC News, January 8, 2023
Waterloo may add a dozen more towers
The Record, January 10, 2023
Hamilton’s high-density sector maturing
Just like mid-month, the end of December witnessed good transaction levels. No major deals took place in Hamilton, which could be a sign of things to come in 2023.
The largest transaction of the week took place in Cambridge, where Smartstop Self Storage purchased a 200,000 sq. ft asset for $36 million ($176/sq. ft).
The second largest transaction occurred in Thorold, where Bioveld purchased approximately 450,000 sq. ft of an industrial asset, with additional land, along the Welland Canal and will reportedly lease to the Hamilton-Oshawa Port Authority.
In Hamilton, the largest deal was for a 9,000 sq. ft office, which sold for $1.85 million ($206/sq. ft), which is about the typical value for most of the (very few) office transactions.
In the news, Hamilton‘s high-density sector is maturing, immigration to Canada hit a record in 2022, and the labour market crushed forecasts.
If you’re interested in learning what happened in Hamilton during 2022 and the trends heading into 2023, please join me at The Hamilton Commercial Real Estate Report: Year in Review at CoMotion on King at 115 King St. E. on January 25 at noon. RSVP today!
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines
Greenbelt infrastructure issues could delay homebuilders
The Toronto Star, December 30, 2022
Hamilton’s high-density sector is maturing
RENX, January 6, 2023
Hamilton Jamesville redevelopment stalled by CN appeal
The Hamilton Spectator, January 6, 2023
Labour market crushes forecasts, increases odds of rate hike
BNN Bloomberg, January 6, 2023
Record number of condos to hit Toronto market in 2023
The Globe and Mail, January 3, 2023
Immigration to Canada hits record in 2022
The Globe and Mail, January 3, 2023
Why those waiting for a return to normal commercial real estate will get left behind
The Financial Times, January 2, 2023
1.4 acres of Stoney Creek residential sold to Mountainview Building Group
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Brantford twine factory redevelopment a labour of love
From Daily Commercial News, by Don Wall,
Forge & Foster’s 190,000-square-foot adaptive reuse project at the site of a former twine factory in Brantford, Ont. is another example of how the firm sizes up a heritage property that’s past its prime, assesses its redevelopment value and makes a final investment decision with something akin to love in its heart.
The firm’s director of strategy and research Alex Manojlovich and director of asset management Jess Malta frequently use the word “beautiful” when describing the 120-year-old Cordage Heritage District property at 111 Sherwood Dr.
The original twine factory, Brantford Cordage, at one time employed 900 people with rail cars that would be loaded for export. It was the largest rope manufacturer in Canada before its demise in 1968. A rope and twine-making operation is still present on the property.
Enter Forge & Foster, which is redeveloping the four existing brick buildings into a mixed-use commercial community. The project boasts a growing and eclectic list of tenants including a church, cycle shop, event space, bridal centre, craft brewery, poutine shop and pottery space.
Downtown Hamilton Site Purchased by Fengate
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Ontario passes housing bill, Bill 23
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News Headlines
Ontario passes housing bill, Bill 23 amid criticism
CBC News, November 28, 2022
Up to $25 million per year in revenue foregone due to Bill 23, says Hamilton
The Hamilton Spectator, December 1, 2022
CEBL team Honey Badgers leaving Hamilton amid upcoming arena renovations
The Hamilton Spectator, November 28, 2022
Carmen’s Group purchase Arlington Hotel and Dominion Telegraph Event Centre
The Hamilton Spectator, November 29, 2022
Adi Developments settles with building regulator over Burlington Condo project
The Hamilton Spectator, November 30, 2022
RBC to buy HSBC Canada for $13.5B – biggest domestic banking deal on record
The Globe & Mail, November 29, 2022
Government land needed to solve shortage of warehouse space
The Globe & Mail, November 29, 2022
Canada wants to welcome 500,000 immigrants per year to 2025 – Can our country keep up
The Globe & Mail, November 26, 2022
Auditor General: Ontario’s real estate regulator is ineffective
The Globe & Mail, November 30, 2022
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‘Vertical sprawl’ concerns as Province kills Hamilton’s 30-storey height limit
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