Sep 17

New Luxury Hotels in Edmonton Signal City Revival

Written by: Richard Crenian
edmonton hotels

Photo credit: Rick MacWilliam

Downtown Edmonton hasn’t had a new hotel since the 70s. Now it’s getting two luxurious ones.

It surprising that the city has gone this many decades without a trendy new hotel development, especially with the billions of dollars pouring into other types of infrastructure in Edmonton.

But the wait is now over. According to Edmonton Journal coverage, the first hotel should be opening by Q3 2015, which will be the $45 million Hyatt Place at Jasper Avenue and 96th Street.

The second hotel, which will be a part of the Katz Group Edmonton Arena District, may not open its doors until late 2017. While flag negotiations are still in process, many speculate that the hotel will open under the Marriott banner.

Hotel advisory consultants at PKF have already increased their forecasts for hotel rates, revenues and occupancy in Edmonton for 2014, by more than double. Rates for the new hotels are expected to run between $150 and $400 per night. Click here to read more.. »

Posted in Canadian Economy, Commercial Real Estate, Edmonton, Richard Crenian
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Sep 16

Private Investors Scooping Up Commercial Real Estate Deals

Written by: Richard Crenian

private investorsAccording to the latest data, private Canadian investors have finally managed to beat off big pension funds in order to close on more commercial real estate deals.

As individual Canadian investors got serious about investing at home, investment in local commercial real estate improved during the second quarter of 2014.

According to the Real Property Association of Canada (REALpac) Q3 2014 Canadian Real Estate Sentiment Survey, the most comprehensive study of confidence in the Canadian commercial property industry remained strong. Opinions regarding the availability of debt, equity capital and low interest rates were all positive.

Click here to read more.. »

Posted in Canadian Economy, Commercial Real Estate, Richard Crenian
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Sep 11

Technology in Retail Marketing

Written by: Richard Crenian

Technology-300x199From mobile apps to social media to push notifications via iBeacon, marketing continues to increase effectiveness and investment returns. Through retail marketing technology, retailers are increasingly able to custom tailor buying experiences and better serve consumers to create win-win situations for all sides. Ultimately, this drives sales and profits for brick and mortar retailers in Canada, resulting in increased tenant revenues and higher rents for retail property investors.

When used by both landlords and retail tenants, technologies can help increase foot traffic, community, loyalty, customer retention and consumer spending for local shopping plazas. Click here to read more.. »

Posted in Commercial Real Estate, real estate investment, Richard Crenian
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Aug 27

To leave an inheritance or not?

Written by: Richard Crenian

REDEV - How to Leave Your Real Estate Fortune to Your Kids

 

Earlier this summer, Sting, the former front man of The Police announced his children will not be inheriting his fortune after his passing. The rock star joins a growing trend amongst some of the world’s richest in encouraging their children to learn the value of hard work and saving, rather than being handed a trust fund.

 

According to a survey of Canadian millionaires by RBC, results showed nearly one-half don’t have confidence in their children’s abilities to manage their inheritance, and the findings are similar around the world.

 

Click here to read more.. »

Posted in Canadian Economy, Commercial Real Estate, Retirement Investing, Richard Crenian
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Aug 27

How is 2014 fairing for Canadians?

Written by: Richard Crenian

Aug 25, 2014 - 2014 for Cndians

 

2014 is turning out to be a successful year for Canadians, especially Albertans. The Alberta Office of Statistics and Information recently released new data showing us just how well off Alberta has been for the past several years.

 

Alberta currently holds the title to being the highest average weekly earners in the country, making a staggering average of $158 more than second place Newfoundlanders. In fact, Albertans make 22 percent over the national average per week. To make matters even rosier, the unemployment rate in Calgary is about 5.5 percent lower than the 7.1 percent Canadian average.

Click here to read more.. »

Posted in Canadian Economy, Commercial Real Estate, Richard Crenian
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Aug 20

Search engine updates impact local businesses

Written by: Richard Crenian

REDEV - New Google Search Changes Impact Local Retailers

 

Search engines are constantly changing the way they show business listings and websites. Most changes are miniscule, but now and then, there are changes that can make substantial differences.

 

The new Pigeon update from Google introduced in July 2014 has been the latter, bringing impactful changes. Google has changed important aspects of their search algorithms that would transform more than just basic web searches. In fact, many local businesses and websites have disappeared from Google searches altogether, in favour of
third party directories.

Click here to read more.. »

Posted in Canadian Economy, Commercial Real Estate, Richard Crenian
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Aug 20

Canadian Property Forecasts 2015

Written by: Richard Crenian

REDEV - Analysts Dramatically Increase

 

Canada spent a great deal of the last 24 months battling bubble rumours and trying to carefully balance markets with new regulation and capital flow. Now the nation appears to be one of the first to have successfully avoided a softening.

 

There is overwhelming evidence encouraging positive expectations for future growth and performance of the Canadian property market. Alberta’s market has been booming, and even Toronto’s has proven to outperform expectations over the last year.

 

New figures from research and data collection firm RealNet Canada shows Toronto’s new condo sales soaring by 94 percent and sales of new detached homes are up by 84 percent.

Click here to read more.. »

Posted in Canadian Economy, Commercial Real Estate, Richard Crenian
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Aug 14

Retail sector fuelling Edmonton’s economy

Written by: Richard Crenian

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Many recognize Alberta for its strong energy sector, but it’s also becoming more apparent retail property is another significant contributor to the economy.

 

Solidifying the retail industry’s importance for the economy in 1979 by unveiling plans of the West Edmonton Mall, the shopping mecca now attracts over 30 million visitors annually. Being Alberta’s largest tourist attraction, the mall currently holds world records for having the largest parking lot, indoor wave pool, indoor triple loop roller coaster and indoor amusement park.

 

Of course, today West Edmonton Mall is only one of the many shopping centres and retail destinations in Edmonton. The Edmonton Journal reports visiting tourists are becoming a big part of the market for Canadian based retailers, specifically in the high-end luxury retail market.

 

Prominent hotel chains such as The Hilton Hotel are also moving in to accommodate shoppers, indicating the rise in property markets.

 

 

Posted in Canadian Economy, Commercial Real Estate, Edmonton, Richard Crenian
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Aug 14

International Property Investment Outlook for 2015

Written by: Richard Crenian

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The international real estate investment landscape is always changing. The uncertainty in the global economy and property markets over the past decade caused many investors to retreat back to a few well-known, comfortable and safe property investment havens such as London, Hong Kong and San Francisco, generally leaving Dubai, France and Spain, as well as more exotic markets like Brazil.

 

However, as we edge towards 2015, many are forecasting a change as investor’s appetites for higher yields grow. In fact, the safe and comfortable markets that have been doing well in 2014 might not have the same outlook in 2015.

 

For example, some believe the market in London, UK is set on having the most significant losses in 2015. London estate agents have already reported price adjustments and anticipate demand to dwindle significantly in the upcoming year.

 

In Asia, Hong Kong and mainland China have been modeling the effect of a new property crash, which could see prices plummet anywhere from 25 percent to over 50 percent.

 

While some international markets are anticipating slowdowns, Canada remains a shining star on the international property map.

 

Posted in Commercial Real Estate, real estate investment, Richard Crenian
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Aug 13

Update: Palisades Shopping Centre Welcomes Two New Tenants

Written by: Richard Crenian

Richard Crenian

 

ReDev Properties Ltd. is excited to welcome Simply Health and Tutti Frutti Breakfast and Lunch as two of our newest tenants at Palisades Shopping Plaza, Edmonton.

 

In May 2014, Simply Health commenced their lease and will be on contract for seven years until April 2021. The health, wellness and nutrition store will occupy 1,291 square feet of space.

 

Tutti Frutti Breakfast and Lunch’s lease will commence in Sept. 2014, for 10 years until Aug. 2024. The restaurant will be occupying a 2,987 square feet unit.

 

With the signing of these two leases, the shopping centre will be fully occupied.

 

“I’m delighted to welcome Simply Health and Tutti Frutti Breakfast and Lunch to the ReDev Properties’ portfolio.’ say Richard Crenian, president of ReDev Properties Ltd. “Both tenants are well-established and are great additions to the shopping centre, creating a diverse and well-blended variety of stores and restaurants for our consumers to enjoy.”

 

Simply Health is Edmonton’s leading expert in health food, wellness and nutrition. With four other locations in Edmonton, the company is dedicated to providing quality assured and effective natural products for all health and well-being needs.

 

Tutti Frutti Breakfast and Lunch has more than 40 locations in Quebec, Ontario and Alberta. Palisades Shopping Centre will be the restaurant’s third location in Edmonton. Established over 20 years ago, Tutti Frutti Breakfast and Lunch takes pride in preparing exquisite meals made with fresh ingredients.

 

 

Posted in Canadian Economy, Edmonton, Richard Crenian
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