What does a City do when tasked with redeveloping a cost prohibitive, aging emblem that encompasses millions of Edmontonian memories? By the way, this is all located on 160 acres of centralized, transit accessible mixed-use land.
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While activity has stayed fairly constant with regard to tenant/purchaser requirements and listings, the deal flow has been slow as most companies continue to have a low risk tolerance in Alberta. Add to this the much anticipated Federal election expected in October of this year, and there has been a mentality of hurry up and wait…until there is a change up federally that is.
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The recent partnership announcement of Chinese state-owned EHL International Logistics with Edmonton International Airport clearly exhibits the positive outcomes that are starting to be realized after years of forging relationships with Chinese aviation companies. With no direct flights from Edmonton to Asia at the current time, and witnessing these Chinese state-owned companies pledge their Canadian cargo hubs to Edmonton, I’m inclined to believe that the Chinese State sees Edmonton as a positive business environment, with potential for passenger routes to follow.
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Around the world, a new stream of relatively passive revenue is benefiting the Landlords of commercial buildings. Read about one method that is mutually symbiotic in benefiting both the environment, and the bottom line, as countries around the world continue to take efforts toward transitioning the consumer’s reliance on energy to new renewable sources.
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Month after month, we discuss the effects of automation and advancing technologies on the changing landscape of the commercial real estate industry. Whether it's the billions of dollars being invested globally into distribution chain robotics and drones for logistics networks, or the rise of beacon technology emanating from our smart phones to create enhanced and tailored retail experiences, technology is changing the way we do business, and in fact, how we experience life as a whole.
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For many years, Edmonton has been considered by neighbouring metropolitan cities, a second-tier destination, a "working-class" town. When individuals and businesses from around the world think of Canada, they always first spout out - Toronto, Vancouver, Montreal, Calgary... And while we have primarily been a blue-collar City, this does not mean that our business owners are shy of investment capital, nor does it mean that our City lacks innovation, diversity and opportunity.
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If you've driven past or to the Edmonton International Airport (EIA) lately, you'll likely have noticed that it is a changing and growing landscape. The EIA innovatively came up with a Master Plan for the future of the land surrounding the Airport that involved making available much of the Airport's under-utilized land for the purpose of commercial development by private companies.
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What could Alberta's Capital City look like in five years? Here's some of the most influential projects being proposed!
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The cannabis industry has proven to be a game changer in states that have already gone through recreational legalization, and from what we are currently witnessing locally, there's no doubt that it is already having a tangible effect on our commercial real estate market here in Edmonton.
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The strength of Edmonton's industrial market has a lot to do with the strength of the many surrounding markets that further support the City's industries and connect the communities as a whole. Have a look at this video clip where I discuss the strength of Edmonton's peripheral markets.
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Edmonton's third quarter was a quiet one in the industrial sector, as is often typical for the summer months, with a meaningful pick up entering into the fall months of September and October. If you're interested in learning more, check out this quick video clip where I discuss some of the factors at play among Tenants and Landlords, Purchasers and Vendors in our market.
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It's safe to say that we are finally coming out of the trough of this current market cycle. However, we have been witnessing something interesting happening within our industrial market, particularly between the multi-tenant and single-tenant product classes. Click here to find out more.
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It's like a flashback in time right now, a City and its prized NHL team at odds over the future of their athletic program and critically, the home that they will play in. Fortunately for Edmontonians, it's not groundhog day in this Town, but rather, this is occurring in our Sister City of Calgary just three hours south.
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When we think of innovation and trends leading us into Edmonton's future regarding our commercial developments, a few words must now come to mind... Simons Londonderry Mall. Not likely the general public's first thought, but since Londonderry Mall announced their $130 Million renovation and redevelopment plan in 2014, this has come to fruition, notably due to the largest solar system in Edmonton that now swathes the new Simons development.
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There is a shift happening in the residential and lending markets across Canada. The combination of declining market values, decreased liquidity, rate increases and a new stress-testing model have created uncertainty in the future of our mortgage market as it stands.
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Last week, an Open House was held by the ICE District in order to outline the plan and vision for Phase Two Development of the District to the North of Rogers Place
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How much value do you place on the accessibility of a City when you think of its potential for growth and development?
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One of the main components that all great metropolitan cities have in common is an inclusive, comprehensive public library to provide knowledge, opportunity and cohesiveness to the community at large. See what the Edmonton Public Library (EPL) and the City have done to reach these goals.
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As we near the midway mark of 2017, it's been exciting to see the changes to our Downtown Skyline as existing development projects near completion, while others break ground and continue to mold our core.
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Take a look at the quarterly reports and videos that outline the commercial real estate transactions and trends of Q1 2017 in the Greater Edmonton Area. Have we really hit the bottom?
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