Alex Manojlovich's Weekly Hamilton CRE Market Update: Downtown Hamilton Site Purchased By Brad Lamb

This week witnessed good transaction levels in all subject markets.

We saw multiple eight-figure transactions as?Sycamore Partners?purchased several?Lowe's?for approximately $140/sq. ft each. (It was announced earlier this month that Lowe's will operate as RONA.) Among these transactions, the largest was in?Woolwich, where 278 acres of land adjacent to the?Waterloo airport?was purchased for $35 million ($125,000/acre).

Beyond the Lowe's transactions, the largest transaction in?Hamilton?took place downtown as?Brad Lamb?purchased 117 King William St., a 0.7-acre parking lot, for $7 million ($10 million/acre).?

In the news, 43- and 36-storey towers have been proposed in?Stoney Creek, the?Jamesville Lofts?development sees new life, and there's an update on Oracle Condos,?Coletara's Main and Queen St. development.

The GHA Sales Transaction Database offers you this week's CRE transaction activity.

Take care,

Alex Manojlovich

Director, Strategy & Research

News Headlines

43 and 36-Storey Towers Submitted for 8 Shoreview Place in Stoney Creek

The Public Record, February 5, 2023

Another residential high-rise bringing density downtown

The Hamilton Spectator, February 4, 2023

Construction resumes on momentarily defunct Jamesville Lofts development

The Hamilton Spectator, February 6, 2023

Investors own big chunk of Ontario's condo market

The Globe & Mail, February 3, 2023

CIBC: Higher interest rates here to stay until 2024

The Financial Post, February 4, 2023

Canadian hiring spree puts pressure on BoC

The Globe & Mail, February 10, 2023

Pair of Kitchener heritage buildings to be incorporated in development

The Record, February 10, 2023

Pent up demand for housing is growing

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