With hotel plan gone, Onni favours offices.

At first it was going to be a hotel, then the plan was to build an office tower.

Now Port Moody residents will get their say on a major development slated for the Suter Brook site at an upcoming public hearing.

The Onni Development Corp. has applied for a land-use contract amendment that would allow the company to build a nine-storey office tower at 220 Brew St., on the south side of Suter Brook Way where it meets Ioco Road.

Courtesy CBC

Ian Gragtmans of Colliers Toronto joins Kevin O’Leary and Amanda Lang on CBC to discuss REITs.

View the discussion HERE.

Courtesy The National Post

“While the housing market languishes, investment activity in commercial property continues to be red hot, with a $500-million deal for Standard Life’s real estate portfolio the latest on the horizon.

By some definitions, this could make 2012 the best year ever for commercial property sales — a year in which the Bank of Nova Scotia sold its head office for a record-breaking $1.27-billion.

Postmedia News has learned that Montreal-based Standard Life is selling a major Toronto office along with three other properties in Montreal, Calgary and Edmonton in what would be the third-largest deal of the year.

Standard Life spokeswoman Ann-Marie Gagné confirmed the sale of the two buildings in Alberta, but would not disclose the purchase price. The two had been part of a deal for a four-piece portfolio but it has since been broken up into two transactions.”

View the full article HERE.