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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City of Hamilton

‘Vertical sprawl’ concerns as Province kills Hamilton’s 30-storey height limit

There were very slow volumes this week, as only four sales occurred.

The week marks the slowest point during our current bear market. However, last week witnessed some of the most significant volumes we’ve seen in a while. The last couple of months have seen atypical ebbs and flows in deal volumes.

This week’s largest transaction occurred in Woolwich, where an industrial property traded for $3.4 million ($194/sq. ft).

The week’s remaining deals included two industrial units in Hamilton and a former school in Flamborough.

In the news, the Province has nixed Hamilton‘s 30-storey height limit, Hamilton inaugurated its new city council and mayor, and the Hamilton City Centre Mall will close on December 26 to prepare for development.

News Headlines
Concern over vertical sprawl after province nixes 30-storey height limit
The Hamilton Spectator, November 15, 2022

Who owns the land in Hamilton’s endangered Greenbelt?
The Hamilton Spectator, November 17, 2022

A new era for Hamilton as city council and first woman mayor inaugurated 
CBC News, November 17, 2022

Hamilton City Centre Mall to close on December 26th in preparation for development
CBC News, November 18, 2022

Hamilton immigration census data
The Hamilton Spectator, November 11, 2022

OLT denies developer near Hamilton airport 
The Public Record, November 8, 2022

Hamilton Bulldogs Owner: Being forced to leave FirstOntario Centre during renovations was shocking and unexpected news
CBC News, November 16, 2022

Ontario wants greater grip on regional governance
CBC News, November 16, 2022

Beginning of the end for Canada’s housing market downturn?
RBC Monthly Housing Market Update, November 15, 2022

BMO economist: Housing market correction about halfway done
The Globe and Mail, November 16, 2022

Intelligent Investment: Canadian Cap Rates & Investment Insights Report
CBRE, Q3 2022

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