John C. Munro Hamilton International Airport

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Downtown Hamilton Site Purchased by Fengate

Alex Manojlovich presents Forge & Foster’s Hamilton Commercial Real Estate Report Year in Review on January 25 at CoMotion on King at 115 King St. E. We encourage savvy investors and well-informed citizens alike to join us for valuable insights at this free public event. Refreshments provided. RSVP today!

This week witnessed good transaction levels in Hamilton and Kitchener, with Niagara and Brantford winding down.

This week’s largest transaction took place in Kitchener, where the Waterloo Catholic District School Board purchased land from the Grand River Conservation Authority for approximately $12.7 million.

Also in Kitchener, IN8 Developments purchased a downtown parcel for $10.3 million ($17.7 million/acre). IN8 Developments is currently working towards the City Centre Mall development in Hamilton.

In Hamilton, a similar transaction took place as Fengate Asset Management purchased 48 Ferguson Ave. S. for $7.5 million ($16.6 million/acre) for what appears to be a future development site.  A high value that usually represents some approvals have been attained, however, I’m personally unaware of any.

In the news, Hamilton councillors approved Upper James property rezoning, the Hamilton airport cargo business is flourishing, and the Province has removed 7,400 acres from the Greenbelt.

Happy holidays, everyone! The next newsletter will be on January 3. Subscribe today!
News Headlines

Council approved Upper James property zoning for 8 storeys
The Hamilton Spectator, December 13, 2022

City of Hamilton not opposing Dundas developer’s land tribunal appeal  
The Hamilton Spectator, December 13, 2022

Hamilton airport cargo business outpaces the rest of Canada
Canadian Aviation News, December 14, 2022

Mission Services aim to open new shelter early next year
The Hamilton Spectator, December 14, 2022

Hamilton e-scooter pilot to get rolling next spring
The Hamilton Spectator, December 20, 2022

Ontario government removes 7,400 acres from Greenbelt
The Globe & Mail, December 17, 2022

Shopify confirms it no longer intends to expand to new office development, The Well
The Toronto Star, December 14, 2022
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Alex Manojlovich

Greater Hamilton Real Estate Update: Downtown Hamilton’s Major Redevelopment Is In The Works

It’s been a quiet week for commercial real estate (CRE) transactions in Hamilton.  February is turning out to be a low as a whole.

Hamilton’s most significant transaction was in Ancaster, where industrial commercial institutional (ICI) land traded for $7.6 million ($905,000 per acre). Hamilton’s industrial land values continue to rise.

The largest transaction of the week was in Kitchener, where Broccolini traded $23 million for 69 acres of ICI land.

In the News Headlines section below, you’ll find:

  • The latest on downtown Hamilton projects
  • Updates on the flurry of activity around John C. Munro Hamilton International Airport
  • The February stats from the REALTORS® Association of Hamilton-Burlington (RAHB)
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
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News Headlines 

Major redevelopment in the works for Hamilton’s Downtown
The Hamilton Spectator, February 24, 2022

Hamilton airport attracts flurry of activity 
RENX, March 1, 2022

Preparation to demolish Jamesville in Hamilton North end underway
The Hamilton Spectator, February 25, 2022

3054 Homestead Drive (Fengate) proposed development
UrbanSolutions Planning & Land Development Consultants Inc.

February 2022 RAHB stats
RAHB, March 2022

Lawsuit over derailed LRT land deal looms over resurrected Hamilton project
The Hamilton Spectator, March 1, 2022

Saving Sobi: Hamilton will pay to keep bike-share network on the road
The Hamilton Spectator, February 26, 2022

Builder wins 11 storey Stoney Creek condo battle
The Hamilton Spectator, March 1, 2022

Broccolini expands GTHA industrial land bank
RENX, February 18, 2022

Large development proposal coming to downtown Burlington
The Hamilton Spectator, February 23, 2022

Ontario cottage country sees record low supply
Storeys Real Estate News, February 24, 2022

BoC hikes rate for first time since 2018
BNN Bloomberg, March 2, 2022

Industrial demand for SW Ontario industrial continues to grow
RENX, February 28, 2022

Investor frenzy rips through housing market
The Globe & Mail, February 18, 2022

Riocan REIT outlines new fiver year growth strategy
RENX, February 24, 2022

Census data field debate over supply and demand
The Globe & Mail, February 18, 2022

 

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Hamilton airport attracts flurry of industrial sales, development

Hamilton airport attracts flurry of industrial sales, development

Steve McLean, RENX, March 1, 2022

Pictured: A 55-acre industrial development site at 9555 Airport Rd. in Hamilton, acquired by Hopewell and Nicola Wealth. (Courtesy Hopewell)

John C. Munro Hamilton International Airport has grown to become one of Canada’s largest airports for domestic air-cargo distribution, and developers, investors and users are scooping up nearby land for logistics and fulfillment centres.

“It speaks to what’s happened with industrial lands in Southwestern Ontario as well as Hamilton more specifically,” Joe Benninger, vice-president with CBRE’s Southern Ontario investment team, told RENX. “Hamilton was a tough place to sell land three or four years ago. READ MORE >>

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