News, Uncategorized

Sporting Goods Giant, Décathlon, Set to Open Store in Mapleview Centre, Ontario, in 2021

Looks like the residents of Burlington, Ontario have a huge reason to celebrate. Mapleview Centre will soon welcome yet another industry-leading brand. 

In the Fall of 2021, the plaza will be opening its doors to Décathlon; the biggest sporting goods retailer in the world, marking the store’s second location in Ontario, with the first having opened in Ottawa in September 2019 as part of the retailer’s cross-Canada expansion. 

 

Décathlon Has Had Quite the Prolific Journey Across the Globe

Having had its origins in France in 1976, Décathlon is on a mission to make its high-quality sporting line accessible across the globe. Ontario isn’t the only province on the list of Décathlon’s conquests. In 2018, the world-class retailer opened its first Canadian store in Brossard, Quebec. The French retailer has over 1500 stores sprawled across 52 countries. 

Ivanhoe Cambridge, a real estate firm that owns the Mic Mac Mall in Halifax, has set aside 23,080 square feet of real estate for another Décathlon store. 

Ivanhoe Cambridge and Décathlon revealed that the new store, opening in 2021, will occupy almost 5091 m2 or 54,800 ft 2 of the space in the lower level, formerly home to Sears. 

Décathlon has also revealed that it plans to forge forward with this expansion and open stores in Calgary, Vancouver and the GTA in the very near future. 

The retailer is making it a point to allow future customers to try their goods in a number of testing areas across the store so that purchasing isn’t a problem. At Mapleview, Décathlon will be occupying prime real estate seeing as the spot is a mere 45 minutes from downtown Toronto. 

 

Mapleview is Taking Its Experiential Customer Focus to Greater Heights

Having had a humble start in 1990, Mapleview has made it a priority to enhance the customer journey and house some of the best brands in the world. Between 2008 and 2010, the plaza underwent significant renovations to improve its market and sales trajectory. 

What stores call Mapleview home? Apple, H&M, Hudson’s Bay, Shoppers Drug Mart and Indigo to name just a few! Given its eclectic selection of shopping arenas, Mapleview has delivered a unique personalized shopping experience that one would be hard-pressed to find elsewhere. 

 

Conclusion

Ontario has, without a doubt, become the hub for retail commercial real estate investors. Décathlon making its mark on Burlington will open the floodgates for countless world-renowned brands to chart a course for the province as well. The bottom line remains as sure as ever; the Canadian real estate market is on the up and up and promises to deliver value to customers and investors alike. 

For more, please visit;

https://www.redevgroup.com/news-article/mapleview-welcoming-a-second-d%C3%A9cathlon-sporting-store-in-ontario

News, Uncategorized

Video Game Developer BioWare Stakes a Claim in Downtown Edmonton With Brand New HQ!

BioWare has big news! The video game development company that established its HQ in Edmonton, Alberta in 1994, has recently moved shop to the downtown Epcor Tower location. The company has risen through the ranks over the years to establish itself as a globally recognized name in the industry. 

This recent move into their new downtown Edmonton headquarters, in a way, showcases Bioware’s focus on their employees, having grown from three to 300. This expansion is a welcome change as planting one’s roots in one of Canada’s major regions can only bode well for big investments in commercial real estate down the road. 

 

New HQ, New Opportunites

In the new Epcor Tower, BioWare occupies 75,000 square feet on three floors. This affords them more room to flourish and grow, and even expand on their infrastructure. The company has upgraded to hundreds of gaming stations, arcades, recording studios and motion capture studios. 

Because of this expansion, BioWare has achieved positive momentum in the CRE sector. This also gives them access to a more adept workforce and scale their operations to staggering proportions. 

There was some speculation that BioWare was planning to move its headquarters outside Edmonton, but these have long since been dismissed. Considering that it is the mastermind behind some of the most legendary franchises; Dragon Age, Baldur’s Gate, Jade Empire and Mass Effect, it’s no wonder that the company has decided to stay put in the city where it all began. 

 

Generous Tax Credits in Edmonton

Casey Hudson, Manager at BioWare, has stated that the Interactive Digital Media Tax Credit in Edmonton rendered the move tremendously easier. 

This is a 25% refundable tax relief incentive that really proves Edmonton and Alberta’s dedication to drawing in and retaining corporations. With BioWare, the credit covered a portion of the building costs, allowing the firm to turn its attention to further expansions. The new move, reports Casey Hudson, has enhanced the work ethic greatly. 

 

Conclusion

BioWare’s HQ shift has proven to be efficient and strategic in positioning the firm to acquire that vital competitive edge. The 25% refundable tax credit is nothing to sniff at, and has allowed the company to go cherry-picking from a wider talent pool, not to mention newer investment avenues. 

This move heralds a new day for the CRE market as a whole as it has complemented the fast-changing downtown landscape. 

 

Learn more right here:

https://www.redevgroup.com/news-article/new-bioware-headquarters-in-downtown-edmonton

News, Uncategorized

Canadian Real Estate Losing Out on Massive Foreign Investment? Here’s What the Future Holds!

The commercial real estate (CRE) market isn’t without its fair share of excitement. Recently, they’ve been a spate of trends in retail real estate and residential housing that have largely swayed consumer habits and preferences. 

Both domestic and foreign investments in the market play a role in the value of CRE and ultimately, its demand. 

The latest trend to hit town? Foreign investment in the commercial CRE sector! Let’s talk about this a little more. 

 

The CRE Market and Foreign Investments 

The core assets that draw in institutional investors are top-tier office buildings and rental apartments in urban areas. However, these are in short supply and as a result, prices may soar higher than what buyers are willing to shell out. Thus far for 2019, such types of transactions have totalled about $1.5 billion. 

New retailers are tossing their hat into the CRE ring for several reasons, one of them being that Canada affords opportunities for growth and expansion. Renovation projects have witnessed a welcome surge in recent times as a result. 

Despite this positive upswing, reports from Bloomberg suggest that foreign investment in the Canadian commercial real estate market backslid by about 70% since last year. The data period taken into consideration was the first 6 months of 2019.

Against the backdrop of the $5 billion racked up over the first half of 2018, 2019 has seen a downswing to about $1.5 billion, giving forecasters and real estate gurus plenty to ponder about. 

 

What the Future Holds For Foreign Intervention in the CRE 

Upon analyzing these numbers, the first thing that should come to mind is the factor/s that are causing this decrease in foreign cash inflows. 

Altus Group Ltd., reports that foreign investments in this sector spiked in 2018 due to the purchase by Blackstone Group Inc. and Ivanhoe Cambridge Inc. of a Canadian industrial landlord for a whopping $3.8 billion. 

If we do not consider this transaction, the figures for the first half of 2019 perform way better than the figures seen in the first half of 2018. 

 

Conclusion

Fluctuations in foreign investments are nothing new, however, industrial and retail CRE, top-tier corporate investments and urban housing are performing really well, as they have been doing year after year. 

Like a fly to honey, these attract more foreign and domestic investments. 

 

Learn more right here: 

https://www.redevgroup.com/news-article/canadian-real-estate-the-trends-in-foreign-investments

News

Investment Portfolio: Protect What You Build

Building your investment portfolio takes an abundance of effort and time. Each investment, whether short-term or long-term poses significance to your overall portfolio and acts as a potential stream of income. Ergo, protecting your investment portfolio is just as important as building it. Most methods of protecting your portfolio are within reach and can be done internally. 

Here are a few key ways you can protect your investments and make the most out of them: 

Diversify your investments

Diversification of investments is imperative when it comes to protecting and building upon them. You’ve most likely heard the age-old phrase, don’t put all of your eggs in one basket. This holds merit when it comes to investing. While a stream may prove to be financially beneficial, should any disruption arise, you could risk losing everything you put in. Diversifying your investments allows you to gain from various streams. Should one fall through the cracks, you won’t lose everything and your other investments could make up for any loses. 

Invest in hard assets

The type of streams you invest in play a huge role in their protection. While liquid assets allow you to have access to cash, it can make it easier to spend. Hard assets lock your investment in place meaning the money put forth is in the form of said investment and requires a lot more work to take out.

Real estate is a prime example of a hard asset. The money is locked in into a tangible asset which will grow profit from there. Although the cash is not easily accessible, the asset still falls under your name and overall net worth. Hard assets are a great method of generating income without the temptation of overspending. 

Keep income growth in mind

Generating income is the bread and butter of investments. Whether you are looking to generate high profits in a shorter time frame or you’re looking for a long-term investment, it’s important to understand the potential profit associated with your investments. Some may invest for the sake of wanting a share in a certain realm, but may not consider any cost margins or profit gain. 

If you are unsure about which realms can help you produce the most income, do your due diligence when it comes to research. Set a target goal of how much income you want your investments to produce on a monthly, quarterly, yearly, or overall basis and align your portfolio with that. Typically, the riskier the investment, the more income can be generated in a shorter time frame, however, there are a plethora of long term investments that can bring you in a high profit. 

Protection is key when it comes to making the most out of your investments. The better protected they are, the higher the potential for gain. 

 

Learn even more ways to protect your investment portfolio here: https://www.redevgroup.com/news-article/6-simple-strategies-for-protecting-your-investment-portfolio

News

What’s Behind The Rise of Luxury Shops In Canada?

Retail markets continue to thrive well into the year and there is no sign of them slowing down at any time. While certain niche markets may not be able to content, there are those that keep the industry afloat. One retail market in the retail sector is thriving despite the hardships it has faced in the last 12 months. 

The luxury retail market has been flourishing across Canada and consumers are receptive to this new wave. Take a walk in the downtown core of Vancouver or the hustle-and-bustle in the heart of Toronto and you will find a superfluous amount of luxury retailers. The luxury clothing sector, in particular, amasses for a large portion of success the retail markets are seeing. 

What is influencing this growth within the luxury retail market?

Canadians have proven to have an appreciation for European fashion which is most notably crafted by high-end designers. The appreciation accumulated from the fashion market overseas has seen vast success in Canadian markets. Canada boasts a high sense of trust when it comes to this market. While there are places scattered around the country to obtain counterfeit goods, law enforcement is working to eliminate them. The hefty price tags associated with luxury goods, the certificate of authenticity, and the overall atmosphere of a shop are key indicators that goods within are 100% authentic. 

Luxury goods are purchased for two reasons: high quality and social status. Certain luxury goods utilize materials of higher quality, increasing the longevity of the item, thus, being grounds for hiking up the price. Social status is also a major contributor to the growth of luxury good sales. Many believe boasting luxury goods entails and reiterates their wealth and status.

What areas are luxury retailers prevalent in?

Luxury retailers are strategic when it comes to their placement in order to optimize profit. Typically, luxury retailers will look at the jobs and average incomes in the surrounding neighbourhood where they are considering allocating their business. Luxury retailers are most prevalent in Affluent areas such as Bloor Street West, Yorkville Village, Yorkdale, and the downtown core of Vancouver City. 

Aside from affluent areas, luxury retail shops are also prominent in the downtown core of major cities. Because the downtown core of these popular cities (Toronto, Vancouver, Edmonton, Calgary, and Montreal) are hot spots for tourists, there is a greater probability to generate business with those foreign to the country. 

What does the future of luxury retailers in Canada look like?

Although the luxury market has had rough patches, it has continued to make an upward trajectory. As long as the demand remains high, luxury retailers will continue to dominate and make a substantial profit. With more luxury shops opening their doors all across Canada, it comes to no avail that there is certainly a high demand for these goods. This retail market speaks to, not only Canadian citizens but to tourists as well, who deem Canada as a safe and trustworthy place to purchase luxury goods. 

 

Want to learn more about the luxury retail market and real estate opportunities surrounding it? Read more here!

News

Big Developments Pour Into Smaller Manitoba Cities, Towns

Cheaper land and lower business operating costs are fueling increased demand for commercial real estate and new economic opportunities in smaller Manitoba communities outside of Winnipeg.

Richard Crenian, president of ReDev Properties, noted the trend in a recent blog post. In it, he said many CRE investors “are taking advantage of lower prices in once considered sleeper towns in Manitoba. Investors’ interest has specifically been concentrated on the outskirts of Winnipeg’s Perimeter Highway.”

Crenian also singled out other communities such as Steinbach, Brandon, and Portage la Prairie, which have all attracted the interest of big players.

Availability of land and costs are key driving factors in the interest, Crenian told RENX in an interview. The story is similar to what’s happening in other areas of the country such as Balzac just outside of Calgary, municipalities outside Edmonton and many outlying communities in the Greater Toronto Area.

“People are going to all of these small places because it’s about affordability,” said Crenian.

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Richard Crenian | The Business Series | Expecting the Unexpected

Richard Crenian talks about setting-up expectations to manage day-to-day challenges. Business is an enigma, you plan carefully, you strategize, you execute and yet most businesses will, at times, present you with a dilemma that is unexpected. As a manager, you are expected to foresee the many crossroads that your business may be facing such like changing economics, market demand, regulations, competition, employee downtime, production and service issues.

Are you business ready?

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Richard Crenian Talks About Retail strategies to survive, and thrive, in 2018

As I’ve written earlier, covered malls are at risk unless they entice shoppers through their doors to spend money rather than shopping online. That means major retailers have to be willing to change their business models to survive.  There is no holy grail waiting to be discovered but being innovative is a starting point. Don’t be surprised if we see more consolidation in the Amazon–Whole Foods mould.

For those of us involved in community plazas, it is paramount to focus on retailers and services that cannot be offered online and require walk-up traffic. Until recent years, that included banks as a key anchor tenant but that may be changing. As lease renewals come up, banks are now considering smaller premises or stand-alone pads as they become less about bank tellers and more about online services. It is likely the traditional 15-year tenancy agreement will be shortened as the banks try to figure out their future in each community landscape.

As the banks try to reposition themselves, we are seeing new companies emerge as principal players in local communities – the most notable has been those offering child care services.  The key to success is becoming more than a single-service outlet. Instead, they are facilitating evening and weekend courses, such as English as a Second Language and cultural awareness nights.

These outlets are operating more like old-fashioned community centres. As a result, they increase foot traffic in the plaza, which in turn boosts potential sales opportunities for other outlets.  Some say we will look back on 2018 as a year of slow-and-steady growth as we deal with interest rates inching higher.

For some tenants, this could be the best time to lock in a lease as it will provide cost certainty. For landlords, having plazas near to capacity, or full, is the best advertisement to attract new tenants.

This year will be great for those who pay attention to details and are prepared for the next upturn. What we are experiencing is a “New Normal” that remains cyclical, but with fewer extremes.

As always, the best measure of your decisions and hunches will be hindsight. On that, some things never change.

News

Building better communities – Richard Crenian

Higher density through high-rise living is changing skylines across many parts of the country and turning suburban areas into more exciting places to live and work for many Canadians.

One of biggest challenges for ReDev Properties is finding businesses and services that reflect the diversity and needs of the neighbourhood for our existing properties or in potential new developments. Therefore, a lot of time is spent studying the local area and understanding the emerging trends so we can best serve the residents.

This is very much a partnership involving municipalities, local businesses and ourselves. One of the main reasons we decided to move into the construction of neighbourhood plazas was to help shape the conversation on how best we can serve local communities.

Higher density = better services

While the pace of migration to the suburbs remains high, some areas presently find themselves below certain minimum transit service thresholds, making it difficult for people to move there because it has a poor public transit system.

Higher density is important because it draws in more services – when an infrastructure network is more dispersed, it is going to be more expensive to maintain. Building one structure takes time; creating a neighbourhood takes a lot longer.

The decisions made today may not take shape for another decade or even longer, so developers and planners are always in an anticipatory mode. They have to understand demographic trends to marry supply with demand.

Nodes and corridors are part of the strategy many of us are committed to seeing flourish because they offer a great opportunity for communities to grow organically. Nodes are higher-density areas where pedestrians, transit, residential, employment and essential services are all readily available. These locations are ideally suited to the expertise at ReDev Properties.

The corridors are the transportation routes that link the nodes and may be areas for greater development in the future. As I’ve mentioned in previous articles, we have sought to integrate the unique aspects of each community, as much as possible, into our projects. For example, local libraries have become an important component in the reconfiguration of neighbourhood plazas. Canadians care deeply about the environment and expect to see a careful balance between development and greenfield sites.

We should all be striving to create dynamic areas that offer opportunities to live, work and shop for future generations. As many younger Canadians appear less interested in owning a car, neighbourhoods, to proliferate, will need to have readily available services and a viable transit system.

It was the emergence of this cultural change that prompted ReDev Properties to move into retail construction. We believe a new type of plaza, that will be more in tune with the diverse nature of our changing neighbourhoods, is starting to emerge.