From Canada Newswire

“VANCOUVER, Nov. 20, 2012 /CNW/ – Pure Industrial Real Estate Trust (TSX: AAR.UN) (“PIRET”) announced today that it has entered into conditional agreements to acquire $169.2 million of income producing properties (collectively, the “Acquisitions”), consisting of seven industrial properties representing 1,524,818 square feet of gross leasable area (“GLA”) located in Richmond and Surrey, British Columbia, Edmonton, Alberta, Toronto Ontario, and Quebec City, Quebec. The Acquisitions consist of a portfolio of two properties located in Richmond, British Columbia (the “Richmond Portfolio”), another property located in Richmond, British Columbia (the “Second Richmond Property”), one property located in Surrey, British Columbia (the “Surrey Property), two properties located in Edmonton, Alberta and Toronto, Ontario (collectively, the “Edmonton-Toronto Properties”) and one property located in Quebec City, Quebec (the “Quebec Property”).  The properties are being acquired at a weighted average going-in capitalization rate of 6.25%.”

New Westminster News Leader – Restaurant eyed for new building.

An open house will be held next Thursday for a proposed restaurant patio at the Queen’s Park West office complex under construction in New Westminster’s Uptown district.

It will be held Nov. 29 from 5 to 8 p.m., at 300-601 Sixth St.

Uptown Property Group are the owners of the building, which is on Sixth Avenue at Fifth Street.

Read more: http://www.newwestnewsleader.com/news/180187751.html

200 West Esplanade, the Esplanade Theatre building, a 5-storey retail and office building in the Lower Lonsdale area of North Vancouver has been sold by Colliers for $12,350,000 to First Capital Realty.

The building has a net rentable area of 38,628 SF, of which about 30,000 SF is cinema space and the balance is retail and office. The building was built in 1990 and is on a 17,928 SF site.

Deloitte Real Estate’s recent Crane Survey highlights a trend in retail mall ownership: there are few opportunities to buy malls, leading prospective mall owners to either build new developments or to reinvest in existing assets.

The report notes that a handful of groups own the majority of large retail assets in Metro Vancouver.

“Most of the larger shopping centres in Canada are owned by a select few groups, and they haven’t been sellers in recent years,” Andrew Evans, who co-authored the report, told Business in Vancouver.

Courtesy BIV. Read more: http://www.biv.com/article/20121113/BIV0111/121119994/0/small-business-confidence-continues-slide-in-june/mall-sales-scarcity-forcing-owners-to-reinvest-or-expand