Warehouses to become shops, offices

Article Abstract:

Allied Canadian Corp., a Toronto, Canada-based real estate manager, is turning around 1.3 million sq ft of warehouse space in over 17 buildings in Toronto's King Street and Spadina Avenue area into offices and retail stores. The company bought one million sq ft of space for C$47 a sq ft and has the right to buy another 300,000 sq ft. Allied is investing C$30 to C$40 a sq ft for the retrofit of the buildings, an endeavor that would entail installation of wiring for telecommunications systems as well as heating, ventilation and air conditioning systems. Funding for the project, which will cost around C$80 million, will come from Toronto-based money manager Connor Capital Management Corp.

Comment:

Is turning around 1.3 mil sq ft of warehouse space in Toronto, Canada, into offices and retail stores

Facilities & equipment, Real Estate Management, Activities Related to Real Estate, Ontario, Article, Allied Canadian Corp.

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Oxford Properties confirms purchase of Canderel assets

Article Abstract:

Oxford Properties Group Inc has announced a deal to acquire Candereal Properties Ltd's property management business and some of its office and industrial buildings for C$61.6 million in cash and C$9.75 million in stock. The deal covers 1.2 million sq ft of office space, 1 million sq ft of industrial portfolio and over half of the 6.5 million sq ft of office space managed by Canderel. The acquisition will boost Oxford's operating cash flow by 6.5 cents per share.

Canada, Land Subdivision and Land Development, Asset sales & divestitures, Office & Commercial Developers, Commercial developers, Canderel Properties Ltd.

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