Alex Manojlovich’s Weekly Market Report: Slate purchases 800 acres of Stelco land for $518 million
This week witnessed slightly below-average transaction levels.
In Hamilton, the largest transaction was for a retail plaza located across from Westdale Secondary School. The retail and office property sold to Westdale Properties for $14,850,000 ($277/sqft). It’s a decent price considering the large office exposure.
Kitchener-Waterloo witnessed two massive transactions. The largest was for 52 acres of industrial land in Cambridge. This property was purchased by Fengate Asset Management for $91,320,000 ($1,750,000/acre). It’s an absolutely massive value for industrial land. It seems there’s no limit in sight.
There’s also lots of Hamilton news across the board:
- Slate has acquired 800 acres of Stelco land for $518,000,000 and plans to develop a world-class business park
- Eastgate Mall plans for 42 storey tower and multiple residential developments
- Lime Ridge Mall is planning two 12-storey towers
- The first iteration of the Delta Secondary School development has been released
- Slate looks to break ground on their Corktown development in 2023
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines
Slate closes on 12m sqft of Hamilton Stelco industrial land
RENX, June 1, 2022
Slate purchases Stelco land for $518m
The Hamilton Spectator, June 1, 2022
Eastgate Mall proposes 42 storey tower, multiple residential buildings
The Public Record, June 6, 2022
Lime Ridge Mall plan two 12 storey residential towers
The Public Record, June 4, 2022
First development for east Hamilton Delta Secondary school site submitted to City
The Public Record, June 2, 2022
Downtown boomtown: ‘Hamilton is the new Brooklyn’
The Hamilton Spectator, June 1, 2022
Slate set to break ground on Corktown Condos in 2023
The Hamilton Spectator, May 31, 2022
OLT supports Ancaster townhouse development for 15 Church St
The Hamilton Spectator, June 6, 2022
Hamilton vacant homes tax
The Hamilton Spectator, June 2, 2022
May 2022 RAHB stats
MLS ® Residential Market Activity for RAHB Areas, May 2022
Rent for 2 bedroom in Hamilton nears $2,000/month
The Hamilton Spectator, May 31, 2022
Hamilton Downtown BIA creates “memory lane” self-guided tour
The Hamilton Spectator, May 31, 2022
Montez buy Waterloo factory square office complex for $122m
RENX, June 2, 2022
London, ON Cherryhill Village sells for record $571M
RENX, May 30, 2022
Ontario home buyers flocking to Quebec
The Toronto Star, May 28, 2022
BoC raises rate to 1.5%
CBC News, June 1, 2022
DID YOU KNOW: You can have these valuable market reports delivered to your inbox each week? It’s true! All you have to do is click.
On Saturday, June 11 at 10 a.m., take time to celebrate and learn about the street art in downtown Hamilton through a guided tour.
You’ll find out the meaning behind some of Hamilton’s most beautiful street art and hear stories about the transformation of local buildings and businesses along the way.
The tour starts at One West Avenue S. It’s a Forge & Foster building adorned with the famous ‘Raise’ mural by Lester and Norman Coloma.
Your guides will lead you to locations around downtown. Bring water and wear comfy shoes. Register now before space fills up.
Admission is free but a donation to the Hamilton Community Fridge is welcomed.