Business in Winnipeg

[esquire]

So, any word yet on which tenant(s) will be taking up all that space in the former CWB Building on Main Street which has had the "90% Leased" sign up out front for some time now?

That's a lot of office space to get snapped up... I'm a bit surprised it hasn't become public yet.

[Urban recluse]

Winnipeg office stats disguise slump

http://www.westerninvestor.com/news/...lump-1.2321029

[jmt18325]

That's interesting, considering that Toronto, at about 5%, has the lowest vacancy rate on the continent.

Also, pretty sure New Leaf didn't open in the old terminal lol...

[bomberjet]

Maybe New Leaf set-up shop in the staircase down from the pedestrian overpass. That's the only structure still standing at the old terminal so..lol

[1ajs]

holy crap

http://www.cbc.ca/news/canada/saskat...sold-1.3897958

SkipTheDishes to be sold to British company for $110M
Online food delivery company sold to Just Eat plc
CBC News Posted: Dec 15, 2016 10:24 AM CT Last Updated: Dec 15, 2016 1:52 PM CT

An online food delivery company with roots in Saskatchewan and headquartered in Winnipeg has been bought by an online rival.

In a news release issued Thursday, U.K.-based Just Eat plc announced its plans to buy SkipTheDishes for $110 million.

"This is a hugely exciting day for SkipTheDishes," Joshua Simair, CEO and co-founder of SkipTheDishes, said in a news release. "Through the hard work of our fantastic team, we have enjoyed substantial growth since we started our company [three] years ago."

[StNorberter]

Originally Posted by esquire

So, any word yet on which tenant(s) will be taking up all that space in the former CWB Building on Main Street which has had the "90% Leased" sign up out front for some time now?

That's a lot of office space to get snapped up... I'm a bit surprised it hasn't become public yet.

Sorry for the late reply on this. GWL moved their claims processing from 220 Portage ave into there in November.

[esquire]

Originally Posted by StNorberter

Sorry for the late reply on this. GWL moved their claims processing from 220 Portage ave into there in November.

Thank you for solving the mystery!

[LilZebra]

http://www.cbc.ca/news/canada/manito...ipeg-1.3918663

CBC Manitoba
Jan. 2, 2017

'We're running out of land,' councillor warns, as scarce industrial plot goes up for sale

One of the last parcels of city-owned industrial land is up for sale, raising questions about what Winnipeg will do when it no longer has any land to entice factories and other large employers to set up shop in the Manitoba capital.

The city is looking for a private partner to purchase or develop 168 acres of unserviced industrial land near the Winnipeg Aqueduct, south of the St. Boniface Industrial Park and Water Business Park.

[esquire]

^ I find the issue in that article somewhat weird... why does the City need to offer land to industrial developers? To my knowledge, it generally doesn't extend that to residential or commercial developers. Surely it can provide incentives such as tax breaks without having to play property speculator?

[dennis]

Isn't centreport Canada an industrial park with an area about the size of Regina that is mostly not developed?

[bomberjet]

CentrePort is mostly outside of Winnipeg. Even the land inside the City is not under City control, CentrePort controls it. But yes, its huge and empty.

As the article mentions, the City has typically controlled industrial development in the past, by way of owning the land. Now they have nothing to offer potential industry to set up shop within city limits. Making it even easier for them to set-up on the outskirts of town. I guess that's what the issue is. But yeah, they could still offer tax breaks, build roads, whatever it may be regardless of land owner.

I see the lack of available land as a good thing. Grow up, not out kind of thing. Almost all land within City limits is spoken for, save for the land south of the south Perimeter. But I believe long term that land is slated for residential. The large empty tracts of land elsewhere are mostly owned by home builders as well.

[Jeff]

Western Financial just acquired by Wawanesa.. good news for a big Winnipeg head office! Wish this woulda happened before they built that god damn building at Polo Park.

from the FIRE WALL:

http://www.winnipegfreepress.com/bus...413977383.html

[esquire]

Originally Posted by Jeff

Western Financial just acquired by Wawanesa.. good news for a big Winnipeg head office! Wish this woulda happened before they built that god damn building at Polo Park.

from the FIRE WALL:

http://www.winnipegfreepress.com/bus...413977383.html

Western Financial pointedly avoided downtown when they moved from near Portage and Maryland out to Polo Park.

That said, their operation at Polo isn't that big... it's what, 2 storeys in a large floorplate building? I'm guessing they'll just leave them there although I wouldn't complain if they were moved to what seems to be Wawanesa's spillover building at 200 Main.

[Jeff]

oh ya, I forgot about that anti-downtown clause! in either case, this should add a bit to the HQ in some form over time. they did just renovate half of the main floor on broadway from observations walking by lately. all in all, win win for corporate Winnipeg !!

[SHOFEAR]

Originally Posted by esquire

^ I find the issue in that article somewhat weird... why does the City need to offer land to industrial developers? To my knowledge, it generally doesn't extend that to residential or commercial developers. Surely it can provide incentives such as tax breaks without having to play property speculator?

It can be challenging to be the first developer in an industrial area who is typically responsible for paying for all the offsite infrastructure improvements and over sizing of infrastructure to accommodate the entire development given that these are huge areas and often not adjacent to existing serviced areas. Even things like giving up huge chunks of developable land for storm ponds that cover drainage basins for multiple property owners can be incredibly costly for the first developer if compensation is years away. Sanitary lift stations, large diameter watermains and reservoirs...

Typically, the initial developer is compensated by future developers as they develop, but time lines can be decades. In Edmonton's case,I am aware of situations where the city has assisted with development of industrial by paying the future developers share of offsite and over sizing and charging future developers. Either way, the infrastructure is eventually paid for by the developers and is not some sort of subsidized sprawl that people tend to believe.

[1ajs]

doesnt canad inns own the old canada packers land? couldnt the city partner with them

[esquire]

Originally Posted by SHOFEAR

It can be challenging to be the first developer in an industrial area who is typically responsible for paying for all the offsite infrastructure improvements and over sizing of infrastructure to accommodate the entire development given that these are huge areas and often not adjacent to existing serviced areas. Even things like giving up huge chunks of developable land for storm ponds that cover drainage basins for multiple property owners can be incredibly costly for the first developer if compensation is years away. Sanitary lift stations, large diameter watermains and reservoirs...

Typically, the initial developer is compensated by future developers as they develop, but time lines can be decades. In Edmonton's case,I am aware of situations where the city has assisted with development of industrial by paying the future developers share of offsite and over sizing and charging future developers. Either way, the infrastructure is eventually paid for by the developers and is not some sort of subsidized sprawl that people tend to believe.

Thanks for the explanation... that was very informative.

[SHOFEAR]

Originally Posted by esquire

Thanks for the explanation... that was very informative.

Land Development Manager for an engineering firm.....those informative services are available for hire!

[cllew]

Originally Posted by 1ajs

doesnt canad inns own the old canada packers land? couldnt the city partner with them

‎Leo Ledohowski bought the land but I am not sure if its held under Canad Inns or some other holding company.

There have been a few different plans for that land but nothing ever came of it.

[jmt18325]

Something that affects my business, and bad news for 200 people in Winnipeg:

http://winnipeg.ctvnews.ca/200-winni...sing-1.3291841