Real eState

Fast-growing ClearView companies putting stamp on industrial real estate market – Calgary Herald

Published

3 years ago

January 23, 2022

Doug Johannson, left, and Steve Vesuwalla have helped ClearView Commercial Realty grow at an aggressive pace. Photo by Courtesy, ClearView Commercial Realty /Postmedia Network

After a fulfilling 22 years with Avison Young — 17 of them as a partner in the Calgary office of the global real estate company — Steve Vesuwalla decided to start his own company in 2019.

He still collaborates with his former colleagues but, while continuing to specialize in industrial real estate, wanted to launch his own development fund to purchase a portfolio of properties.

Vesuwalla bought a three-storey business condo along 1 ^st Avenue N.E. in Bridgeland for ClearView Commercial Realty and, thanks largely to rewarding relationships with long-standing loyal clients, performed very well from the get-go.

Industrial buildings continue to be his focus and his latest is the lease of a 108,000-square-foot building in Remington Development’s Discovery Business Park in Edmonton. The building — with 1.12 acres of fenced and paved yard storage — at the intersection of Highway 2 and Highway 19 will be a new distribution centre for FedEx.

The successful transaction was initiated thanks to Vesuwalla’s association with the Society of Industrial and Office Realtors. A global professional real estate association representing today’s most knowledgeable, experienced and successful real estate brokerage specialists, Vesuwalla was contacted by a fellow member in Pittsburgh to discuss the needs of his client, FedEx, in the Edmonton area.

A past-president of the Western Canada chapter, Vesuwalla is one of fewer than a dozen members in Alberta who have been admitted to the society following strict examination into their experience conducted with the highest of professional and ethical standards.

During his career, the president and broker of ClearView has been involved with well over a thousand sale and lease transactions with an aggregate total exceeding $1 billion.

Doug Johannson, who also had many years of experience in industrial real estate and land, joined his former Avison Young co-worker at ClearView in 2021.

Johannson has since sold a 15,500-square-foot Tri-Mac building in the Golden Triangle industrial district off Peigan Trail in southeast Calgary, renewed the lease for HBI’s 32,000-square-foot facility in Portland Street Depot, and subleased 10,000 square feet of that space to Eight Ounce Coffee.

Currently, he is helping to develop a 40-acre parcel of land he sold on behalf of a client north of HeatherGlen Golf Course in Rocky View County. As the development progresses, he will bring hard-to-find lots to market for small industrial users.

Another prime location he is currently marketing is a 33-acre vacant site in Balzac fronting onto the south side of Highway 566.

Vesuwalla’s Clearview Industrial Fund was established with all of its investors based in Calgary, apart from two in Toronto.

Last week it added the Champion Business Centre at 401-403 33 ^rd Street N.E., purchased from Hungerford Properties through Michael Golightly of Colliers International.

The 260,000-square-foot building anchored by the north campus of CDI College brings the fund’s current portfolio to 300,000 square feet, which includes a 35,000-square-foot building in South Foothills that had been vacant for a year. Listed by Johannson, Sean Ferguson of Cushman Wakefield brought his glass manufacturer client to the property.

A long relationship with Garry Bobke, senior partner and president of NAI Advent, has resulted in Vesuwalla’s new development fund investing in its first residential project in partnership with NAI Advent.

The Mission 19 property is a luxury 67-unit apartment block, designed by Gravity Architect and being built by Triumph Construction, in the trendy Mission District at 320 19 ^th Avenue S.W. that will be available for rent in the second quarter of 2023.

Both ClearView companies continue to grow at an aggressive pace, which means Vesuwalla is looking for a couple more experienced agents to join him and Johannson.

Notes:

• Spiros Pizza & Pasta has served the “best pizza in town” at the corner of 17 ^th Avenue and 33 ^rd Street S.W. since 1969. This summer it will open its second location in Inglewood Crossing, the former Trail Appliance store on 9 ^th Avenue S.E.

• The Landstar Development is being leased by Fairfield Commercial Real Estate — broker Michael Kehoe says only one space is left with 11 stores being leased in the past 10 months.

David Parker appears regularly in the Herald. Read his columns online at calgaryherald.com/business. He can be reached at 403-830-4622 or by email at info@davidparker.ca .

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Real eState

Two Quebec real estate brokers suspended for using fake bids to drive up prices

Published

4 days ago

September 11, 2024

Anne Joseph

MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.

Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.

Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.

She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.

The two brokers were suspended in May 2023 after La Presse published an article about their practices.

One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.

This report by The Canadian Press was first published Sept. 11, 2024.

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Real eState

Montreal home sales, prices rise in August: real estate board

Published

1 week ago

September 6, 2024

Anne Joseph

MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.

The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.

The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.

The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.

QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.

Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.

This report by The Canadian Press was first published Sept. 6, 2024.

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Real eState

Canada’s Best Cities for Renters in 2024: A Comprehensive Analysis

Published

2 months ago

July 24, 2024

Harry Miller

In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.

Here are the top 10 cities that emerged as the best for renters in 2024:

St. John’s, NL

St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.

Sherbrooke, QC

Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.

Québec City, QC

Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.

Trois-Rivières, QC

Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.

Saguenay, QC

Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.

Granby, QC

Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.

Fredericton, NB

Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.

Saint John, NB

Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.

Saint-Hyacinthe, QC

Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.

Lévis, QC

Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.

This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.

Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.

Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.

For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.

While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.