Downtown Hamilton Site Purchased By Brad Lamb

Brad Lamb has purchased this 0.7-acre parking lot at 117 King William St. in downtown Hamilton.


This week witnessed good transaction levels in all subject markets.

We saw multiple eight-figure transactions as Sycamore Partners purchased several Lowe’s for approximately $140/sq. ft each. (It was announced earlier this month that Lowe’s will operate as RONA.) Among these transactions, the largest was in Woolwich, where 278 acres of land adjacent to the Waterloo airport was purchased for $35 million ($125,000/acre).

Beyond the Lowe’s transactions, the largest transaction in Hamilton took place downtown as Brad Lamb purchased 117 King William St., a 0.7-acre parking lot, for $7 million ($10 million/acre).

In the news, 43- and 36-storey towers have been proposed in Stoney Creek, the Jamesville Lofts development sees new life, and there’s an update on Oracle Condos, Coletara’s Main and Queen St. development.

The GHA Sales Transaction Database offers you this week’s CRE transaction activity.

Take care,
Alex Manojlovich
Director, Strategy & Research

News Headlines

43 and 36-Storey Towers Submitted for 8 Shoreview Place in Stoney Creek
The Public Record, February 5, 2023

Another residential high-rise bringing density downtown
The Hamilton Spectator, February 4, 2023

Construction resumes on momentarily defunct Jamesville Lofts development
The Hamilton Spectator, February 6, 2023

Investors own big chunk of Ontario’s condo market
The Globe & Mail, February 3, 2023

CIBC: Higher interest rates here to stay until 2024
The Financial Post, February 4, 2023

Canadian hiring spree puts pressure on BoC
The Globe & Mail, February 10, 2023

Pair of Kitchener heritage buildings to be incorporated in development
The Record, February 10, 2023

Pent up demand for housing is growing
The Toronto Star, February 11, 2023

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865 Kleinburg Dr. London

Receiver selling Applewood Marketplace development project and land in London, Ont

Steve McLean, RENX

Two adjacent development sites in London, Ont., where Phase 1 of the 584-unit residential and retail Applewood Marketplace is nearing completion, have been put on the sale block by a court-appointed receiver.

EY is handling the sale, having been appointed receiver over all the assets, undertakings and properties of Applewood Marketplace Inc.

Construction of the first phase of the north London development was about 75 per cent complete but had experienced a series of delays that added to its costs and eventually put the project into receivership.

Applewood Marketplace consists of a five-storey building with 107 rental apartments, nine rental townhouses and 15,000 square feet of ground-floor commercial space on 2.5 acres at 865 Kleinburg Dr.

However, work at the site had stopped on June 1, according to documents filed as part of the proceeding.


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