Amazon will be building a new state-of-the-art facility in Edmonton that will feature advanced robotic sorting equipment. The 2.9 million square foot facility will be in Highlands Business Park, one of the fastest-growing industrial areas in Alberta. The building has a footprint of over 600,000 square feet but will comprise five levels giving it an […]
Calgary may see more than a million square feet of office space fallout due to M & A activity
Calgary-based Cenovus Energy Inc. will buy Husky Energy Inc. in an all-stock transaction valued at $23.6 billion. Oil and gas mergers typically add sublease space to the market, and Cenovus confirmed that because of the “inevitable overlaps and redundancies in mergers of this type …they have identified $600 million in operating and […]
BY ISABELLE KIRKWOOD Canadian Startup News A new angel organization has formed with an aim to expand access to capital for early-stage tech entrepreneurs in Western Canada. This week, Calgary-based Allied Venture Partners announced the official launch of its angel investment group. Allied Venture Partners will make seed-stage investments across North America, with a focus on Western […]
By Garry Marr CoStar News The Canada Emergency Commercial Rental Assistance program used less than half the money the government set aside to help commercial tenants with rent, according to an independent arm of Parliament. The Parliamentary Budget Officer said CECRA would end up costing the federal government about $937 million, far less than the original […]
Too often, tenants comfortably ensconced in their office space simply forget about their lease until they get a call from the landlord and receive an offer to renew a few months before their lease expiry date. This is a landlords dream – they have a “captive tenant” that does not have enough time to move. […]
It is always advisable to have an Option To Renew clause written into your office lease. This gives you, the tenant, the right to renew your lease at the end of your existing term. In low vacancy markets this clause can be particularly valuable. Too often we have seen landlords refuse to negotiate with a […]
In every offer to lease there should be a clause stating that the offer is conditional upon the review, negotiation, and approval of the landlord’s standard form of lease document. There is a reason for this. An offer to lease covers the basic terms of your agreement with a landlord and these terms will be […]
Landlords are experts in managing and leasing their properties. When you, as a tenant, sit down with a landlord to negotiate, you can be certain that they have come to the table armed with information from both in-house and outside real estate professionals. The real estate professionals that work for the building owners and landlords […]
Calgary – Strategic group is ordered to put properties with $650 million in mortgages into receivership. Strategic Group CEO Riaz Mamdani who spoke at an opening ceremony for cube, which is a former office building – which Riaz company has converted into residential use. Strategic Group was hoping to put more than 50 properties under […]