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iPhone 16 is Apple’s New Era of Intelligent Smartphones

By
Lee Rivett
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iPhone 16 LineUp. Photo: Apple.

The Apple iPhone 16 and iPhone 16 Plus mark a significant milestone in smartphone technology. Built on Apple’s new A18 chip, these devices introduce Apple Intelligence, a system designed to deliver personalized and relevant assistance while maintaining user privacy. Not to be confused with the new iPhone Pro lineup which can be read about here.

Key features of the iPhone 16 lineup include:

  1. Camera Control: This new feature allows users to quickly capture memories and access visual intelligence for object and place recognition.
  2. Advanced camera system: A 48MP Fusion camera with a 2x Telephoto option provides versatility in photography.
  3. Apple Intelligence integration: The system offers writing tools, audio transcription, and summarization capabilities across various apps.
  4. Improved Siri: A redesigned interface with enhanced language understanding and contextual awareness.

iPhone 16 Enhances User Experience with AI

The iPhone 16 series leverages AI to improve various aspects of the user experience:

  1. Writing assistance: System-wide tools for rewriting, proofreading, and summarizing text.
  2. Prioritized communications: Summarized notifications and priority messages in Mail.
  3. Visual intelligence: Quick access to information about objects and places through Camera Control.
  4. Personalized Siri: Improved natural language processing and context retention for more efficient interactions.

Performance and Design Upgrades in iPhone 16

Apple has not only focused on AI integration but also on overall performance and design improvements:

  1. A18 chip: Offers significant boosts in CPU and GPU performance, enabling AAA gaming experiences.
  2. Battery life: Internal redesign and power management optimizations result in extended battery life.
  3. Durability: Enhanced Ceramic Shield and water resistance for improved longevity.
  4. Action button: Customizable quick access to various functions and apps.

The iPhone 16 and iPhone 16 Plus will be available in five colours: black, white, pink, teal, and ultramarine. Pre-orders begin on September 13, with availability starting September 20.

As Apple continues to push the boundaries of smartphone technology, the iPhone 16 series represents a significant step towards more intelligent and capable devices. Retailers and consumers alike should take note of these advancements, as they are likely to shape the future of mobile technology and user expectations in the coming years.

iPhone 16 vs. iPhone 16 Plus: Choosing the Right Size

While the iPhone 16 and iPhone 16 Plus share many features, the main difference lies in their size and display. The iPhone 16 boasts a 6.1-inch display, making it more compact and easier to use with one hand. In contrast, the iPhone 16 Plus features a larger 6.7-inch display, offering a more immersive viewing experience for content consumption and productivity tasks.

The larger size of the iPhone 16 Plus also allows for a bigger battery, potentially providing longer battery life compared to its smaller counterpart. However, this comes at the cost of increased weight and less pocket-friendly dimensions. Both models offer the same powerful A18 chip, camera capabilities, and Apple Intelligence features, making the choice primarily a matter of personal preference regarding screen size and handling comfort.

Non-Pro Lineup (iPhone 16 and 16 Plus) vs. Pro iPhone Lineup (iPhone 16 Pro and Pro Max): Key Differences

While the entire iPhone 16 lineup shares core features like Apple Intelligence and Camera Control, the Pro models offer several enhancements for power users and photography enthusiasts:

  1. Display Technology: The Pro models feature larger displays (6.3-inch for Pro and 6.9-inch for Pro Max) with ProMotion technology, offering adaptive refresh rates up to 120Hz for smoother scrolling and responsiveness.
  2. Build Material: iPhone 16 Pro and Pro Max boast a titanium design, which is stronger and lighter than the aluminum used in the standard models. This premium material contributes to improved durability and a more luxurious feel.
  3. Camera System: While all models feature a 48MP main camera, the Pro lineup includes additional enhancements:
    • A new 48MP Ultra Wide camera for higher-resolution wide-angle and macro photography
    • A 5x Telephoto camera on both Pro models (compared to the 2x Telephoto on standard models)
    • 4K120 fps video recording in Dolby Vision
    • Studio-quality microphones for enhanced audio recording
  4. Processor: The Pro models are powered by the A18 Pro chip, which offers even greater performance capabilities compared to the A18 in the standard models. This includes improved graphics performance and enhanced machine learning capabilities.
  5. Storage Options: The Pro models offer higher storage capacities, with options up to 1TB, compared to the maximum 512GB available on the standard models.

These differences position the Pro models as more advanced options for users who demand cutting-edge technology, particularly in photography and videography. However, the standard iPhone 16 and 16 Plus models still offer significant improvements over previous generations and provide excellent performance for most users.

iPhone 16 LineUp. Photo: Apple.

Final Words on iPhone 16 Lineup

The iPhone 16 and iPhone 16 Plus will be available in five colours: black, white, pink, teal, and ultramarine. The Pro models come in four titanium finishes: black, natural, white, and desert. Pre-orders for all models begin on September 13, with availability starting September 20.

As Apple continues to push the boundaries of smartphone technology, the iPhone 16 series represents a significant step towards more intelligent and capable devices. Retailers and consumers alike should take note of these advancements, as they are likely to shape the future of mobile technology and user expectations in the coming years.

Apple Unveils iPhone 16 Pro: A Leap in Smartphone Innovation

By
Lee Rivett
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Apple iPhone 16 Pro Lineup. Photo: Apple.

Apple, the tech giant known for its groundbreaking products, has introduced the iPhone 16 Pro and iPhone 16 Pro Max, marking a significant advancement in smartphone technology. Not to be confused with the non-Pro iPhone lineup which can be read about here.

The new Pro lineup boasts larger displays, innovative camera features, and enhanced AI capabilities, all powered by the cutting-edge A18 Pro chip. These devices are set to redefine the smartphone experience for Canadian consumers and tech enthusiasts alike.

iPhone 16 Pro: A New Era of Apple Intelligence

At the heart of the iPhone 16 Pro lies Apple Intelligence, a sophisticated AI system that promises to revolutionize user interaction. This technology leverages powerful Apple-built generative models to understand personal context and deliver relevant assistance while maintaining user privacy.

Apple Intelligence introduces a range of features designed to enhance productivity and creativity. Writing Tools allow users to adjust the tone and style of their text, from adding humor to creating a more professional tone. The system can even summarize lengthy documents for quick comprehension. A standout feature is Genmoji, which enables users to create custom emojis by simply describing them or selecting a photo. Personal Context takes AI assistance to a new level by tailoring responses based on individual user preferences and behaviors. These features work seamlessly across various apps, offering a cohesive and intelligent user experience.

One of the standout features is Camera Control, which offers an intuitive way to engage with the advanced camera system. Users can now effortlessly capture stunning photos and videos with just a tap or slide of their finger.

Camera Control ChatGPT. Photo: Apple.

iPhone 16 Pro vs. iPhone 16 Pro Max: Sizing Up the Differences

While both the iPhone 16 Pro and iPhone 16 Pro Max share many features, there are notable differences that cater to different user preferences. The most obvious distinction is in display size. The iPhone 16 Pro boasts a 6.3-inch screen, while the Pro Max offers a larger 6.9-inch display, making it ideal for users who prioritize a more immersive viewing experience for media consumption or productivity tasks.

Battery life is another area where the models diverge. The iPhone 16 Pro Max, with its larger form factor, houses a bigger battery, offering what Apple claims is the best battery life ever in an iPhone. This makes the Pro Max an attractive option for power users or those who spend long periods away from charging points. Both models feature the same powerful A18 Pro chip, but the Pro Max’s larger thermal design may allow for slightly better sustained performance during intensive tasks. Despite these differences, both models maintain feature parity in terms of camera capabilities, including the new 5x Telephoto lens, ensuring that users don’t have to compromise on photography features regardless of their size preference.

iPhone 16 Pro Camera: Pushing Boundaries in Mobile Photography

The iPhone 16 Pro introduces a new 48MP Fusion camera with a faster quad-pixel sensor. This upgrade enables 4K120 fps video recording in Dolby Vision, setting a new standard for smartphone videography.

Both Pro models now feature a 5x Telephoto camera, allowing users to capture distant subjects with remarkable clarity. The addition of a 48MP Ultra Wide camera further expands creative possibilities, especially for macro photography enthusiasts.

Audio recording has also seen significant improvements. The new models boast four studio-quality mics that capture true-to-life sound. Users can now record video in Spatial Audio, creating an immersive listening experience when paired with compatible devices.

The A18 Pro chip powers these advanced features, delivering unprecedented efficiency and performance. This new chip architecture enables faster neural processing, improved graphics rendering, and enhanced power management.

Apple has also prioritized environmental considerations in the iPhone 16 Pro’s design. The device incorporates recycled materials, including 100% recycled aluminum in its internal frame and over 95% recycled lithium in its battery.

For Canadian retailers, the iPhone 16 Pro represents a significant opportunity. With its advanced features and growing consumer interest in AI-powered devices, this new lineup is poised to drive foot traffic and sales in electronics stores across the country.

The iPhone 16 Pro and iPhone 16 Pro Max will be available for pre-order in Canada starting September 13, with availability beginning September 20. Prices start at $1,449 CAD for the iPhone 16 Pro and $1,749 CAD for the iPhone 16 Pro Max.

As the holiday shopping season approaches, Canadian retailers should prepare for increased demand. Training staff on the new features and setting up interactive displays could help capitalize on consumer interest in these cutting-edge devices.

iPhone 16 Pro Lineup vs. Non-Pro iPhone 16 Lineup

While the entire iPhone 16 lineup shares some common features, such as Apple Intelligence and Camera Control, the Pro models offer several distinguishing features that set them apart from their standard counterparts. The iPhone 16 Pro and Pro Max boast more advanced camera systems, featuring a 48MP Fusion camera with a faster quad-pixel sensor, enabling 4K120 fps video recording in Dolby Vision. In contrast, the standard iPhone 16 and 16 Plus offer a 48MP Fusion camera with a 2x Telephoto option, providing two cameras in one but not matching the Pro models’ high-end video capabilities.

The Pro models also feature a more robust build, with a titanium frame that’s both stronger and lighter than the aluminum used in the standard models. This premium construction contributes to the Pro models’ enhanced durability and premium feel. Additionally, the Pro lineup offers larger display sizes (6.3 inches for the Pro and 6.9 inches for the Pro Max) compared to the standard models (6.1 inches for iPhone 16 and 6.7 inches for iPhone 16 Plus).

Perhaps the most significant difference lies in the chipset. While all iPhone 16 models feature Apple’s latest A18 chip, the Pro models are equipped with the more powerful A18 Pro variant. This advanced chip enables faster neural processing and improved graphics rendering, particularly beneficial for demanding tasks like AAA gaming and complex AI operations. The standard models, while still highly capable, may not match the Pro lineup’s peak performance in these intensive applications. These distinctions allow Apple to cater to a wide range of users, from those seeking a powerful yet accessible device to professionals and enthusiasts demanding cutting-edge technology.

Last Words on iPhone 16 Pro Lineup

The launch of the iPhone 16 Pro lineup signals a new chapter in smartphone technology. Its blend of advanced AI, improved cameras, and enhanced performance sets a new benchmark in the industry. For Canadian consumers and retailers alike, this release promises to reshape the mobile landscape in the coming months.

Eataly Brings Italian Street Food to Toronto Locations

By
Retail Insider
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Eataly CF Sherway Gardens (Image: Eataly)

Eataly is set to launch its fourth “Icons of Eataly” series this fall. The campaign, running from September 20 to October 6, will celebrate street food culture across its North American locations, including three Eataly locations now open in Toronto. 

The series, which began in 2023, aims to honour Italian living through special events and limited-time menus. This year’s focus on street food highlights a crucial aspect of global food cultures, with particular emphasis on Italy’s rich “cibo da strada” tradition.

Eataly’s Canadian stores will lead the charge in this culinary celebration. The company plans to introduce over 20 new menu items at its quick service counters and restaurants, marking one of the brand’s most significant menu updates to date.

Cuoppo Fritto Misto. Photo: Eataly

Visitors can expect to sample lesser-known dishes like Cuzzetiello Napoletano, a Neapolitan specialty made by filling a hollowed-out bread roll with savoury ingredients. Italian street food favourites such as arancini, zeppole, and bombolone will also feature prominently.

The menu expansion goes beyond Italian borders, showcasing iconic street food makers from local communities. From Toronto to New York, customers can participate in exclusive workshops at La Scuola, Eataly’s cooking school, or enjoy global flavors at one-day “block party” events in stores.

New menu highlights include Arancino di Nduja, featuring crispy Scotti rice with spicy salame and Grana Padano DOP cheese, and Pizza Fritta, available in classic, mortadella, and Neapolitan varieties. Sweet offerings like Bombolone con Gelato, a fried pastry filled with gelato, round out the street food experience.

In 2023, Investindustrial, a leading European investment company, acquired a majority 52% stake in Eataly. The partnership supports the brand’s ambitious expansion plans, with new openings scheduled in major cities worldwide.

That includes a fourth Toronto location for Eataly that will open at CF Toronto Eaton Centre next year. It will join locations on Bloor Street in downtown Toronto as well as at CF Sherway Gardens and the CF Shops at Don Mills. 

Bo’s Coffee Eyes Canadian Market in Global Expansion

By
Retail Insider
-
Photo: Bo's Coffee

Bo’s Coffee, a Cebu-based coffee chain known for sourcing beans from local Philippine farms, is brewing up ambitious expansion plans. The company aims to significantly increase its global presence, with Canada emerging as a target for future growth.

Steve Benitez, CEO of Bo’s Coffee, recently unveiled the company’s expansion strategy at the Franchise Asia Philippines 2024 International Conference. The plan includes opening 15 new outlets in the Philippines over the next four months, followed by an additional 50 locations in 2025.

Currently, Bo’s Coffee operates 145 stores across the Philippines, Qatar, and the United Arab Emirates (UAE). Benitez announced plans to reach 200 sites by next year, with 70% of the planned store footprint to be franchised.

The coffee chain’s international journey began in April 2018 with its first overseas store in Doha, Qatar. In partnership with franchisee Al Majed Group, Bo’s Coffee now runs 14 outlets in the city. The brand expanded to the UAE in November 2022, collaborating with Al Mulla Business Group to open two stores in Dubai.

“We will have 16 stores by the end of this year in Doha and four in Dubai,” Benitez stated, highlighting the company’s rapid growth in the Middle East.

Looking ahead, Bo’s Coffee is actively seeking a franchise partner to enter a third international market. Canada has been identified as a key market of interest for the brand’s North American debut. While Benitez did not specify a launch date for Canada, he projected a rollout of 10-12 stores over a 10-year period.

The expansion into Canada would mark a milestone for Bo’s Coffee, introducing its unique blend of Philippine coffee culture to the diverse Canadian market. The move aligns with the growing trend of international coffee chains establishing a presence in Canada’s competitive retail landscape. A local franchisee has yet to be found, according to the company.

Specsavers partners with astronaut Chris Hadfield in Canadian marketing campaign 

By
Retail Insider
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Chris Hadfield. Photo: Canadian Space Agency

Global eyecare and eyewear provider Specsavers has partnered with Col. Chris Hadfield, the renowned Canadian astronaut, for a new awareness ad campaign. The goal is to shift perspectives on eye health importance among Canadians who have been neglecting their regular check-ups.

A recent study commissioned by Specsavers has uncovered a concerning trend: nearly half of Canadians are overdue for an eye exam.

“I know first-hand how important vision is after experiencing temporary blindness during a spacewalk,” Hadfield said in a statement. He emphasized the crucial role of early detection in eye health, drawing parallels to space safety protocols.

Specsavers Canada at The Pen Centre (Image: Specsavers Canada)

Specsavers is equipping its locations with advanced Optical Coherence Tomography (OCT) technology. This 3D scanning tool is included in every standard eye exam at no extra cost, aiding in the early detection of sight-threatening conditions.

The Leger study revealed some alarming statistics about Canadians’ attitudes towards eye health:

  • 42% cite cost as a deterrent for eye exams or corrective lenses
  • 71% believe vision loss is a normal part of aging
  • 53% are unaware or disagree that most vision loss is preventable
  • 77% of 18-34 year-olds have missed or not booked an eye exam

The findings are particularly concerning given that 75% of all vision loss is preventable and treatable, according to the Canadian Council of the Blind.

As eye health risks increase with age, Canadians 65 and older are advised to have annual eye exams, while those under 65 should have check-ups every two years.

Specsavers, an optometrist-owned and-led business, entered the Canadian market in 2021. The company has grown rapidly now with over 130 locations across B.C., Alberta, Ontario, and Manitoba. Specsavers was recently recognized in Canada’s Best Workplaces™ List for 2024 by Great Place To Work®.

Founded in the UK 40 years ago, Specsavers now operates more than 2,600 healthcare businesses globally, serving over 42 million patients and customers. The company’s mission is to transform eyecare in Canada by offering exceptional service, advanced clinical equipment, and affordable, quality eyewear.

Beyond Wokeness: Molson Coors and John Deere’s EDI Reboot In Food [Op-Ed]

By
Sylvain Charlebois
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In a recent development that may signal a notable shift in corporate governance within the agri-food sector, both Molson Coors and John Deere have announced the termination of their existing equity, diversity and inclusion (EDI) programs this summer. In place of these initiatives, they have opted for what they describe as a “more comprehensive approach.” This move reflects a broader discourse unfolding in boardrooms globally, where the long-term viability of ‘wokeness’ as a business strategy is increasingly debated.

Historically, EDI efforts have been championed as essential not only for cultivating an inclusive workplace but also for boosting company performance. The logic has been straightforward: diverse teams are often more innovative and more adept at addressing the needs of a varied customer base. Indeed, the value of a diverse workforce and management team is particularly recognized in the food sector, traditionally dominated by white males. However, the recent strategic pivot by American companies Molson Coors and John Deere—suggests a shift towards an inclusivity model that diverges from the conventional EDI framework.

The term “woke,” often used pejoratively, has come to encapsulate and critique activism predominantly aimed at defending the rights of minority and marginalized groups, drawing on concepts from academic fields like critical race theory to advocate for social justice. Although necessary, the frequent usage of the term has diluted its impact.

Molson Coors’ adoption of a “more comprehensive approach” implies a strategy that integrates inclusivity into the broader fabric of business practices rather than maintaining it as a parallel initiative. This could represent a more intrinsic and holistic method of embedding inclusivity throughout the company’s operations, arguably more effective than standalone initiatives.

This strategic shift prompts a crucial question: Does an overt focus on ‘wokeness’ undermine financial sustainability, particularly when corporate revenues are under pressure? The implication here is that there may be a diminishing return on investment from EDI programs that are poorly integrated into the core operations of the company or fail to engage all stakeholders. It appears both companies have recognized this misalignment and are transitioning towards a model that seeks to uphold inclusivity while potentially enhancing financial health and shareholder value.

The accounting of EDI benefits may be flawed, preventing companies from fully recognizing its contributions. While public sectors and educational institutions can persist with EDI initiatives without risking insolvency, private corporations face existential financial pressures.

Critics may view this change as a regression in addressing systemic inequities within these corporations. A significant concern remains that without dedicated EDI initiatives, issues of underrepresentation, bias, exclusion and racism could re-emerge or intensify. Thus, the challenge for Molson Coors and John Deere is to demonstrate that their revamped strategies are not merely superficial changes but genuine attempts to integrate inclusivity into their corporate ethos—a process that will take decades.

Both companies now must demonstrate that their revised approach is not just a cost-saving measure but a sustainable strategy that can enhance corporate culture, improve employee morale, and meet the needs of a diverse global market. They need to prove that inclusivity can be synonymous with profitability, not merely an adjunct or a regulatory compliance issue but a core business tenet.

Other corporations observing these changes will be eager to determine whether this strategic refinement leads to increased competitiveness and market leadership. This could establish a new benchmark for how businesses incorporate social values into their operational models, shifting from a narrow focus on ‘wokeness’ to a broader, possibly more enduring understanding of inclusivity and equity in the corporate landscape.

What’s up with all these food halls in Canada?

By
Retail Insider
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People eating at Cathcart Food Hall. Photo courtesy of CBRE

It’s lunchtime on a Thursday and Montreal’s Le Cathcart food hall is bustling. As the smell of fresh pizza fills the air, a man chows down on an enormous Italian sandwich in the sun-filled Biergarten while a woman perched on three-inch stilettos chats with a co-worker over poke bowls. Later in the day Le Cathcart will transform into a trendy bar and fill up with young professionals mingling, drinking elaborate cocktails and dancing to local DJs.

Le Cathcart is one of Montreal’s hottest food halls, a cafeteria-style market concept that has gained momentum across Canadian cities over the last few years. Unlike food courts, which typically comprise an assortment of fast-food operators, food halls are curated with local, artisanal restaurateurs and often serve alcohol. They are a popular spot for social events and gatherings due to the large array of food they offer and the community feeling they foster.

“The food hall trend is well beyond taking off, it’s spreading rapidly, but what’s interesting is that the concepts keep getting better,” says CBRE Montreal’s Christopher Rundle. “Landlords are finding creative ways to fill big spaces on the ground floors and basements of their buildings and making their assets more appealing in the process.”

FAST FOOD AND CASUAL SECTION OF LE CATHCART. RENDERING: SID LEE ARCHITECTURE/SUPPLIED

Canada’s Booming Food Hall Scene

Le Cathcart is one of several food halls that have opened in Montreal in recent years. It was preceded in 2019 by Le Central, a gastronomic hub in Montreal’s Quartier des Spectacles and Time Out Market, a trendy Lisbon-based concept that opened in Montreal’s Eaton Centre. Royalmount’s Le Fou Fou is on track to become Montreal’s next food hall sensation when it opens later this summer, with 12 eateries, four bars and 900-plus seats.

“Food halls have great atmosphere and hip offerings that attract big crowds,” says Rundle. “That’s why so many office and mall landlords are opting for them these days.”

Montreal isn’t alone in seeing the growth of the food hall trend. North Vancouver boasts The Quay Market and Food Hall at Lonsdale Quay Market, a waterfront carnival-style marketplace that opened for Expo ‘86. The market has recently been revitalized with new seating and food offerings and a bar featuring local brews on tap. 

Calgary has First Street Market, a fully licensed food hall designed by Calgarians for Calgarians that serves local beers and cocktails, and District at Beltline, part of a mixed-use complex in one of the city’s up-and-coming neighbourhoods.

Le Fou Fou – Rendering: LemayMichaud via lefoufou.com

Toronto saw PATH-adjacent Chefs Hall open in 2018 and TABLE Fare and Social open on the fourth floor of CIBC Square, a downtown office tower, in 2023. These were followed by the launch of three food halls in 2024 alone: CF Toronto Eaton Centre’s Queen’s Cross Food Hall opened in April followed by The Well’s approximately 50-vendor Wellington Market in May and Waterworks Food Hall in July.

Ottawa also has a food hall, Queen St. Fare, featuring one of the city’s top mixologists and six local food vendors, including a Mexican street food stall by Top Chef Canada winner René Rodriguez.

“Food halls are not the food courts you grew up with,” says CBRE Urban Retail Team’s Alex Edmison, whose team brokered the retail deals at The Well. “They pull people in with authentic local food vendors, cool designs and atmospheres that make you want to be there.”

Queen’s Cross Food Hall – Photo: Oliver & Bonacini

Ingredients for Success

Food halls may be on the rise but Edmison says they require certain circumstances to succeed. “They can work to differentiate large-scale developments such as malls, office complexes and mixed-use properties,” says Edmison. “They can help sell the vision for a property and draw people to less centralized locations by providing an experience they can’t get anywhere else.”

For landlords, transacting with independent food retailers can be more labour-intensive than doing business with international fast-food brands that have extensive real estate experience and know how to build spaces efficiently. “Food halls are just not scalable like traditional food courts,” says Edmison. “But under the right circumstances, they can add a lot of value to a development or property. We can help clients determine whether a food hall is feasible for their project.”

Food halls can require larger up-front investments on behalf of the landlord, who may have to contribute more resources towards the original build-out. Alternatively, they can head lease the space to groups such as Time Out, which manage the process of sourcing the tenants and getting them open for business. Under either scenario, food halls can be attractive for smaller restaurant operators who have less experience building out spaces and may not want to compete with large franchises that can offer quicker and cheaper food options.

Le Central – Photo: André Rainville (@villedepluie) via lecentral.ca

“It’s pretty much plug-and-play and involves minimal start-up costs,” Rundle says. “Food halls enable restaurant operators to focus on what they do best and provide the public and nearby tenants with a cool food venue.  

“Whether or not food halls will bring about a dining revolution is yet to be seen.”

Preliminary success is encouraging retail and office landlords to double down on this concept to help revitalize properties and increase utilization post-pandemic. Whether the trend has legs is unclear, but in the meantime, eat and drink up, Canada!

(This content comes from CBRE’s Advantage Insights blog, your one-stop source for news and views from across the Canadian commercial real estate landscape.)

Crestpoint acquires 50% interest in three building Loblaw portfolio

By
Mario Toneguzzi
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60 Carlton Street (CNW Group/Crestpoint Real Estate Investments Ltd.)

Crestpoint Real Estate Investments Ltd. have announced the acquisition of a 50 per cent interest in a three-building portfolio from Loblaw Properties Limited and Shoppers Realty Inc.

The acquisition transaction was completed as part of a 50/50 joint venture with an affiliate of Choice Properties Real Estate Investment Trust (Choice Properties), said the company in a news release.

“The Portfolio consists of one distribution center and two retail properties. The distribution center is a 711,000 sq. ft. dual load distribution facility located in Mississauga, Ontario. The two retail assets include a 150,000 sq. ft. Real Canadian Superstore in Winnipeg, Manitoba and a strata title interest in the lower floors of 60 Carlton Street in Toronto, Ontario, formerly Maple Leaf Gardens.  Originally constructed in 1931, this iconic building was the home arena of the Toronto Maple Leafs until 1999, but now houses 95,000 sq. ft. of retail space including a flagship Loblaws grocery store, an LCBO outlet, a Joe Fresh location and 150 underground parking spaces. Toronto Metropolitan University will retain its ownership of the top level of the property which houses the Mattamy Athletic Centre,” it said.

“The Portfolio is 100% leased for 15+ years and is backed by Loblaw’s and Shoppers’ investment grade credit parent company, Loblaw Companies Limited. Crestpoint, on behalf of the Crestpoint Core Plus Real Estate Strategy (its open-end fund), entered into this joint venture transaction with Choice Properties, Canada’s largest REIT with over 700 properties valued at $16.7 billion and a market cap of ~$10.6 billion.”

The company said closing of this acquisition brings Crestpoint’s total assets under management to $10.4 billion and 38.3 million square feet. 

Retail sales drop in June: Statistics Canada

By
Mario Toneguzzi
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Michel's Bakery and Café at Toronto's Yorkdale Shopping Centre on September 1, 2024. Photo: Craig Patterson

Retail sales reached $68.7 billion in June, a decrease of 3.0% compared with the same month one year earlier. Lower sales were reported in 13 of the 18 commodity classes, reported Statistics Canada on Monday.

The advance estimate provided by the Monthly Retail Trade Survey suggests that unadjusted total retail sales in July increased by 1.5%. Because of its preliminary nature, this figure will be revised, added the federal agency.

“In June, the largest decline in dollar terms came from lower sales of motor vehicles (-8.4%). The decrease in this commodity class was driven by lower sales of new motor vehicles (-7.6%) and used motor vehicles (-9.4%),” it said.

“For the second consecutive month, retail sales of hardware, tools, and renovation and lawn and garden products (-5.5%) decreased year over year in June. Sales of renovation materials and supplies (-6.9%) posted the largest decrease within the class, driven by lower sales of lumber and other renovation materials and supplies (-8.6%).

“In dollar terms, the largest increase in June came from sales of food and beverages (+1.4%). Leading the growth within this product class were higher sales of eggs and dairy products (+6.6%) and cookies, confectionery, and snack foods (+5.7%). Lower sales of alcoholic beverages (-5.2%) partially offset the increase.”

Amazon opening specialized fulfillment centre in Cambridge, Ontario on September 29

By
Mario Toneguzzi
-
Amazon is hiring thousands of people for the holiday season. Photo courtesy of Amazon
Amazon is hiring thousands of people for the holiday season. Photo courtesy of Amazon

Amazon has confirmed that its newest fulfilment centre, YHM2, will open in Cambridge, Ontario on September 29. Measuring nearly one million square feet, with capacity for more than 1,000 employees, the new facility will offer in-demand skills training and career growth opportunities while helping optimize Amazon’s regional operations network, it said.

At YHM2, Amazon product inventory will be stored, managed, and distributed to regional Amazon Robotics fulfilment centres, allowing them to fulfil a wider selection of customer orders at the fastest-possible delivery speeds.

Greg Clutton

“YHM2 will bring the best of Amazon’s logistics expertise to Cambridge while making the city an important part of how we support our local fulfilment network and offer a leading product selection to customers,” said Greg Clutton, YHM2 Site Lead. “We are proud to be creating good jobs while making important contributions to the local community.”

Because of Cambridge’s strategic location, YHM2 will play a key role in supporting Amazon fulfilment centres in southwestern Ontario as the company prepares for the holiday season. The site will launch with more than 250 jobs, and has the capacity to scale to more than 1,000 jobs as operations ramp up. Employees will have the opportunity to build new skills and grow their careers by participating in training and certification programs related to the technology operated by the site, including forklifts. With the launch of YHM2, Amazon now operates 12 fulfilment centres, two sortation centres, 16 delivery stations, and two AMXL delivery stations in Ontario, explained Amazon.

The company said it is donating $66,000 to the YWCA Cambridge’s Small Steps to Success program. Small Steps to Success helps empower local women and gender-diverse individuals in the Region of Waterloo to achieve their personal and professional goals, aligning with Amazon’s commitment to fostering skills training, inclusive opportunities and long-lasting community impact.

Kim Decker

“YWCA Cambridge is pleased to welcome Amazon to the community.  Their commitment to investing in women’s employment through this donation will provide much needed support to the women and gender-diverse individuals who access our employment programs.  We look forward to a continued partnership where all women and gender-diverse individuals have the opportunity to reach their full potential,” said Kim Decker, CEO, YWCA Cambridge.

Amazon is also supporting the construction of 24 stacked townhomes in Cambridge through a donation to Habitat for Humanity. The project will provide working families in need with access to home ownership.

Philip Mills

“Everything that we do to make a difference in the lives of families in our community is done through partnerships. Because of the generosity of folks like Amazon, children have a safe place to grow up, parents have the peace of mind knowing they can’t be evicted, and the community is one step closer to a solution to our affordable housing crisis,” said Philip Mills, CEO, Habitat for Humanity Waterloo Region.

Amazon said it has invested over $1 billion globally in safety initiatives since 2019. In 2024 alone, the company allocated over $750 million to invest globally in technologies, resources, training, and programs to further enhance safety efforts.

Candidates interested in working at YHM2 are encouraged to visit www.amazon.ca/canadahourlyjobs.



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