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PLACER 2: NOT FOR PUBLICATION

Allied aims high for green building certifications

Allied Properties REIT (AP-UN-T) says in its 2022 ESG Report the trust has outperformed environmental performance targets, executed the first steps of its net-zero plan, and intends to certify most of its portfolio with LEED and/or BOMA by 2028.

The Body Shop opens Yorkdale Shopping Centre flagship

The Body Shop Canada has opened the doors to its newest flagship location at Yorkdale Shopping Centre in Toronto. The Body Shop's new Changemaker's Workshop is designed to give customers an immersive, sensorial product experience.

San Francisco office subleases up 140% compared to 2020

San Francisco’s office sublease market has surged 140% since 2020, according to new data from Savills. The surge follows a wave of office vacations that began with remote work and the pandemic and has more recently stemmed from tech layoffs and turmoil in the broader commercial real estate industry.

Buffalo Wild Wings ends its Canadian operations

American sports bar franchise Buffalo Wild Wings has officially shuttered all of its remaining locations in Ontario, effectively signalling the end of its run in the Canadian market. The franchise currently operates over 1,200 locations across the U.S.

Regal reaches deal with REIT to surrender 16 theatres

As Regal Cinemas' parent company gets set to emerge from bankruptcy, it has reached a deal with Kansas City, Miss.-based EPR Properties to surrender 16 movie theatres across the U.S. and come to a new agreement on dozens of cinemas that will stay open.

Boston's struggling office sector expected to cause budget crunch

Boston is heavily dependent on its office buildings, with office property taxes generating more than one-fifth of the city’s total revenues this year. As those buildings decline in value and show signs of distress, they could endanger Boston's fiscal health.

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U.S. return to office plateaus at about 50%

U.S. office workers are back at their offices roughly 50% of the time, according to Kastle's Back to Work Barometer and that has been the case since the beginning of 2023, suggesting an emerging plateau for office occupancy.

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Mortgage costs could continue to increase: Experts

“While variable rate mortgage holders will feel the effects of the (Bank of Canada interest) rate hikes first, fixed-rate holders will still be squeezed by rising rates at renewal,” says Victor Tran, Ratesdotca mortgage and real estate expert.

Renting versus buying now seen in a new light

Ottawa’s rental market is at a challenging moment. It used to be that renting was seen as a stepping stone to homeownership. But in today’s atmosphere of rising interest rates, rising prices and rising demand, attitudes toward renting are shifting.