TORONTO — Canadian kids anxiously awaiting a visit with Santa Claus at their local mall will have to settle for a very different experience this year.Two of Canada s largest mall operators are opting. . .
Lineage Logistics puts cold storage on rails with acquisition
Gillian Tan
Acquisition will allow Lineage to lower customer transportation costs
Deal marks more than 40 acquisitions for the firm in roughly a year
Lineage Logistics
Novi-based cold-storage warehousing company Lineage Logistics LLC is branching into rail.
Lineage announced this week it acquired Cryo-Trans, an owner of refrigerated and insulated railcars, to capture an additional leg of the food and beverage supply chain. The transaction values Reisterstown, Maryland-based Cryo-Trans at more than $500 million. A move into rail is part of our effort to be a one-stop-shop for our customers and eliminate waste within the food supply chain, Lineage CEO Greg Lehmkuhl said in an interview. By replacing some trucking capacity with rail, customers may reduce transport costs by 15 percent to 40 percent, depending on the shipment size and distance traveled, he estimated.
Dec. 24, 2020
The $1B acquisition of the St. Paul’s Hospital property in Vancouver is one of the RENX Top-10 Stories of 2020. (Google Street View)
The COVID-19 pandemic has been the “story” of 2020, but within the commercial real estate industry there is a much deeper thread to the year.
A story of resilience, adaptation, and soldiering on in the face of conditions few of us would have imagined 12 months ago. That’s what we have focused on with RENX’s annual selection of our Top-30 Canadian CRE Stories of 2020.
Sure, COVID-19 plays a role in some of the articles we’ve selected – heck, the virus has dramatically transformed our day-to-day lives and how we conduct business.
Oxford makes US$2B urban living bet on Toronto skyscrapers
Ari Altstedter, Bloomberg News Toronto , James MacDonald/Bloomberg
Oxford Properties Group Inc. is proposing to turn an area of midtown Toronto thatâs mostly parking lots into a mix of apartments, offices and retail space, a major bet that demand for dense urban living will rebound after the pandemic.
The proposal, submitted to the municipal authorities on Friday, is worth about $2.5 billion, according to a person familiar with the matter. It includes 3 million square feet of commercial and residential space spread among five new skyscrapers at the southwest corner of Yonge Street and Eglinton Avenue.
Dec. 21, 2020
A rendering of the proposed new Canada Square at Yonge and Eglinton in Toronto, which is to be redeveloped by Oxford Properties Group and CT REIT. (Courtesy Oxford)
Oxford Properties Group and CT REIT plan to redevelop the 9.2-acre Canada Square property with a three-million-square-foot mixed-use development at Toronto’s burgeoning Yonge and Eglinton intersection.
The proposal includes five mixed-use towers with over 650,000 square feet of new office space, street-related retail, 2,700 housing units, community amenities and landscaped open spaces. It also includes improved transit infrastructure and a dedicated community space in multiple phases.
“This is a site we’ve been looking to redevelop for a few years,” Oxford’s vice-president of development Andrew O’Neil told RENX in an interview. It started working on the redevelopment plan in 2017 and has just filed it with the City of Toronto.