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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

Here’s an excellent opportunity for business owners who want to move into one of Brantford’s fastest-growing areas!
Find out more about space for lease at 111 Sherwood Dr. in Brantford on our website.
These fantastic units are great places to set up your business. There’s lots of visibility to vehicle and pedestrian traffic, and parking is available on site. This location is close to the highway and in one of Brantford’s few historical districts. The property is transforming into a great entertainment district — be part of the excitement! Tenant incentives are available.

Contact leasing@forgeandfoster.ca today or call (888) 410-9440 to book your private tour!
in Editorial, Latest News, Weekly Market Report Newsletter Posted by Jessica Wright

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

in Editorial, Weekly Market Report Newsletter Posted by Jessica Wright

1.4 acres of Stoney Creek residential sold to Mountainview Building Group

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!
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!

Happy New Year! I hope everyone had a safe and happy holiday.

The midpoint of December saw good volumes but no major translations.

The largest transaction occurred in the Niagara Region, where 46 acres of ICI land traded for $12 million (approximately $250,000/acre).

In Hamilton, the largest deal was for 1.4 acres of residential land in Stoney Creek, which was sold to Mountainview Building Group for $3.2 million ($2.2 million/acre).

In the news, The Spec looked into Hamilton’s urban boundary expansion, City Centre Mall has closed, and RBC reported a slow national housing market for December.

It will be interesting to see year-end data as we typically see larger transactions close, but it may be muted due to interest rates.

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!

News Headlines

Hamilton’s forced urban boundary expansion happened quickly –  how quickly for new homes to follow
The Hamilton Spectator, December 22, 2022

New law threatens to strip development protection from Hamilton wetlands
The Hamilton Spectator, December 30, 2022

City Centre Mall closes its doors for future development
CBC News, December 31, 2022

Downtown fire leaves significant damage to King St property
CBC News, December 20, 2022

Infill development approved despite objections from residents, housing advocates 
The Record, December 20, 2022

Strategic Storage Trust acquires 132,000 sqft Cambridge facility 
SmartStop Self Storage REIT, Inc. press release via BusinessWire, December 20, 2022

Housing Market stays quiet to end 2022
RBC Monthly Housing Market Update, December 15, 2022
in Editorial, Latest News, Weekly Market Report Newsletter Posted by Jessica Wright

Hamilton rated one of Canada’s best locations to invest

Forge & Foster is moving! Sept. 23 will be our last day at 67 Frid St. By Sept. 27, we’ll be set up at 29 Harriet St., in the exciting, high-growth film district of Barton-Tiffany.
This week witnessed a large volume of transitions, typical for the transition period between months. It’s great to see these patterns holding even as interest rates continue to rise.
This week’s largest transaction occurred south of Kitchener in North Dumfries, where an industrial building on a large swath of land sold for $19 million.

The second largest transaction took place in Waterloo, where Village Developments purchased almost an acre of residential land for $14 million.

The largest transaction in Hamilton was in Stoney Creek, where 12.45 acres of industrial land sold for $13 million (approximately $1 million/acre).

In the news, Hamilton has been rated as one of Canada’s best locations to invest, New Horizon Development Group submitted a bid for taller buildings, and Toronto‘s average condo rents have surged to a record high.

We’re moving! 
Sept. 23 will be Forge & Foster’s last day at 67 Frid St.
As of Sept. 27, our new address will be: 29 Harriet St. Hamilton, ON L8R 2E5
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines

Hamilton rated as one of Canada’s best locations to invest 
Invest In Hamilton, September 2022

Dundas site receives conditional approvals for 4 storey, 51 unit development
The Hamilton Spectator, September 12, 2022

New Horizon Development’s new bid aims taller
The Hamilton Spectator, September 12, 2022

Home construction authority moves to revoke Burlington developer’s license
The Hamilton Spectator, September 10, 2022

6 storey building set to replace three houses in Waterloo
The Record, September 9, 2022

Kitchener’s Mill St plan would transform area around LRT station with six towers up to 1,500 units
The Record, August 29, 2022

August 2022 Rent Report
Rentals.ca, September 2022

Toronto condo rents surge to record average $2,806/month
The Toronto Star, September 7, 2022

Ontario passes strong mayor legislations, providing Toronto and Ottawa veto power
CBC News Toronto, September 8, 2022

Bank of Canada expected to hike interest rate to 3.25%
The Hamilton Spectator, September 7, 2022

Tal: Interest rates could deepen Canada’s rental housing crisis
RENX, September 8, 2022

in Editorial, Weekly Market Report Newsletter Posted by Jessica Wright
New Horizon Development plans to build 1,341 units at 1842 King St. E., where a Brock University satellite campus once operated.

Alex Manojlovich’s Weekly Market Report: Hamilton Council approves 1,341-unit condo development

New Horizon Development plans to build 1,341 units at 1842 King St. E., where a  Brock University satellite campus once operated.

 

This week witnessed a good volume of deals, which is to be expected when entering a new month. It’s great to see this pattern holding even when the current level of CRE transactions appears muted overall.

This week’s largest transaction was for an industrial building near Stelco in Hamilton. 460 Sherman Ave. N. sold for $19.9 million ($161/sq. ft). It’s a good price all around, considering the location and size of the asset.

In Stoney Creek, a former elementary school on 5.87 acres at 299 Barton St. sold for $5.3 million ($900,000/acre, $134/sq. ft). The site is adjacent to industrial properties, so it’s uncertain if it will remain zoned as institutional or if it will be rezoned as industrial. The price point meets market valuations for both asset classes.

Multiple office transactions took place this week, which is great to see. Over the last few years, it’s been very rare to see office transactions outpace land and industrial transactions.

In the news, Hamilton City Council approved a 13-storey condo building on a former Brock University site, Mission Services is leaving their James St. N. location in Hamilton’s downtown, and Sierra Supply Chain Services has opened a state-of-the-art, $65 million processing facility in Hamilton.

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

I hope you’re enjoying your summer! I’ll be off next week, so look for your next Market Update on August 30.

News Headlines

Condos to rise on 13 storeys on former east Hamilton university site
The Hamilton Spectator, August 11, 2022

Mission Services leaving longtime downtown James St North location
The Hamilton Spectator, August 14, 2022

Residents, developers clash over height of Jamesville project
The Hamilton Spectator, August 11, 2022

Ancaster’s Wilson St to get another townhouse development
The Hamilton Spectator, August 15, 2022

Hamilton median household income increases 14% in 5 years
Invest in Hamilton, August 8, 2022

Councillors OK controversial Stoney Creek warehouse
The Hamilton Spectator, August 15, 2022

Sierra opens state-of-the-art $65 million facility in Hamilton 
The Hamilton Spectator, August 08, 2022

Ontario set to introduce ‘strong mayor’ legislation to speed up housing development
CBC News, August 10, 2022

Toronto to receive new McMaster campus by year end 
Storeys, August 9, 2022

Developers criticize Toronto development fee increase
CBC News, August 9, 2022

New complete community could add 3500 homes, schools to Kitchener’s Western edge
The Record, August 10, 200

Office Report Q2 2022
Whitney Commercial Real Estate Services, Waterloo Region

Despite low unemployment rates, labour shortages persist in Canada
The Toronto Star, August 10, 2022
Exceptional Office Space for Lease

This turnkey office space offers prime exposure and a fantastic opportunity for signage on the main artery Wellington St. N. at Ferrie St.

The location’s well suited to medical professionals because of its proximity to the Hamilton General Hospital and the Ron Joyce Children’s Health Centre. (It’s just 300 metres away!)

This ample space in the downtown core includes:
— reception
— boardrooms
— private offices
— staff lunchrooms
— a wide, open riser stairway
— washrooms on both floors
— nearly 9,000 sq. ft available across 2 units

PRICED AT JUST $6+/SQ. FT!
This historic building was part of the Sawyer-Massey Agricultural Plant and previously housed the Gold Book Business Directory offices. Now, it’s graced by a mural of Nikola Tesla by sensational local artist Lester Coloma. The portrait celebrates that Hamilton was the first city in Canada to receive widespread electric power, which attracted innovative industries.

Set up your business here
& carry on this address’ legacy of innovation.

Please e-mail us at leasing[@]forgeandfoster.ca or call 289-203-6054, and we’ll schedule a private tour for you at your convenience.
in Editorial, Weekly Market Report Newsletter Posted by Jessica Wright
Houses for Sale

Hamilton’s population up 6%, outpacing provincial average

Wards on Hamilton outskirts and downtown experience double-digit growth, according to latest census data.

By Ritika Dubey The Hamilton Spectator

Sat., April 9, 2022

Hamilton’s population grew six per cent between 2016 and 2021, according to federal census data — slightly outpacing the provincial average of 5.8 per cent.

According to the data, which appeared in a recent report by the city’s planning and economic development department, 584,755 individuals were living in the city as of last year — 1,755 more than were forecast.

The areas with the highest population growth included downtown (Ward 2), (Ward 9), Glanbrook (Ward 11) and Flamborough East (Ward 15). READ MORE >>

in Editorial Posted by Jessica Wright

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