$264 million deal is the largest retail acquisition in the Co-op’s history

(Most of the stations being sold are in B.C. and Alberta)


Saskatoon-based Federated Co-operatives Limited (FCL) is investing $264 million to purchase 181 Husky retail fuel sites in Western Canada from Cenovus Energy Inc., the largest retail acquisition in the Co-op's history.

The December 2021 announcement was made on behalf of local Co-ops in the Co-operative Retailing System.

The acquired retail fuel sites include a mix of gas bars, on-site car washes and convenience stores. Once the deal is complete, FCL said, it will transfer the sites to several independent local co-ops across Western Canada. 

 

"These new locations will strengthen our presence in Western Canada and will bring our unmatched service and support to new geographic areas,” stated the FCL in a release.

The deal is part of about $660 million in asset sales Cenovus announced December 7. It’s subject to regulatory review by the Competition Bureau of Canada, which may determine which sites stay in the deal.

Those that stay will be transferred over to local Co-ops, while others will remain with Husky branding for a short time while being suppled, according to FCL.


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Commercial and industrial sales are tracking to top $2 billion this year as the housing market flirts with a 16-year record high for transactions in November (Frank O'Brien Dec 3, 2021 5:43 PM - Western Investor)
A 162,724-square foot warehouse with 80,418-square feet of office space on 14 acres on 42nd Street SE, Calgary, sold for $32.18 million in the third quarter 2021. | Nexus REIT


With $468 million in sales – not counting the $1.2-billion Bow office tower purchase that has yet to close – in the third quarter (Q3) 2021, Calgary is on track to top $2 billion in commercial and industrial real estate sales this year, according to Altus Group.

Meanwhile housing sales in November reached 2,110 transactions, just shy of the record for the month set in 2005, as the sales-to-new-listing ratio hit a blistering 100 per cent.

Altus reports that the Calgary’s commercial real estate market recorded 115 transactions for a total investment volume of $468 million in the third quarter, bringing the total investment volume for the year close to $2 billion. The total sales volume was up 37 per cent from the first three quarters of 2020.

Industrial sales led the commercial and industrial assets investment parade in the third quarter, with 27 transactions valued at $188 million. This sector was dominated by two substantial distribution logistics centre deals. These were the $69.7 million purchase of a Canadian Tire 496,000-square-foot distribution centre by Skyline Commercial Real Estate Investment Trust (REIT); and the $32.18 million sale of the Valad Construction headquarters industrial and office complex to Nexus REIT. 

The ICI (industrial-commercial-institutional) land sector was the second most active in terms of dollar volume with 38 transactions amounting to $83 million, up 62 per cent from Q3 of 2020.

The multi-family rental apartment sector saw 15 transactions totalling $82 million, a 70 per cent increase from the same point last year, and only a marginal decrease from the previous quarter.

The retail sector tallied $44 million in transactions amounting to a 110 per cent increase from Q3 2020. 


The biggest retail sale was the $8.35 million purchase of the Hansen Ranch Plaza, a near-12,000-square-foot retail centre in northwest Calgary, bought by local investors.

“Calgary’s beleaguered office market has remained flat, with five transactions amounting to $15 million, a negligible change from the same quarter last year,” noted Ben Tatterton, manager of data solutions at Altus, who prepared the Calgary report with national research manager Krut DSesai.

The landmark sale of the Bow office tower will be registered in a future quarter, Altus noted.

The two-million-square-foot Bow tower was purchased in August from Toronto-based H&R REIT by Oak Street Real Estate Capital, of Chicago, for $1.216 million, in a deal expected to close by the end of this year.

The Calgary Real Estate Board (CREB) reported a rush of home buyers in November.

“Lending rates are expected to increase next year, which has created a sense of urgency among purchasers who want to get into the housing market before rates rise,” said CREB chief economist Ann-Marie Lurie. She added that supply levels have tightened, causing prices to rise.

The benchmark composite home price in November was $461,000, up nearly 9 per cent from November of 2020, according to Lurie.

 
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The most affordable motel currently listed in the Lower Mainland. Prime location in Hope. Opportunity to own a motel business in beautiful Hope. This motel is located just within walking distance to shopping center, restaurants, gas stations and some fast food chains. It has 22 rooms on huge .587 acre of flat and useable land. Please do not approach motel staff directly. All appointments must go through listing brokerage.
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PROFITABLE Barber + Salon for sale, $250,000 in NW Calgary

--The ONLY barber in the community

--gross sales $380k in 2020, $500k in 2021

--Rent is $4800/month including op cost, utilities $500/month

-- 3 hair cut tables, 6 salon tables, 2 sinks

-- 2.5 yrs lease left, 5 yrs renewal option

-- 2 barbers, 2 hair stylists

--contact for confidential details

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Pizza restaurant (Take out ONLY), Sales $430,000-2020 and $537,000-2021, 799 sq.ft., 2 yrs left, 5 yrs renewal option;

Gross Rent:$3,124/month including gas & electricity. Sales increases year after year. GOOD reviews. Serving SW including other Calgary areas due to some special popular menu offered including vegan, dairy free, allergen free. Staff can work on Catering business when orders are not busy during the day. Don’t miss this and hurry before owner changes mind.

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