Shindico joins CORFAC
SHINDICO Inc. has become affiliated with CORFAC International, a collection of privately held real estate firms spread across 65 countries, based in Falls Church, Va.
Shindico president Sandy Shindleman said he has known the founders of CORFAC for many years and has had on-going discussions with them about joining the group for some time.
He said the he felt the timing was right for his 38-year-old firm to add an international affiliation partially because of Shindico's growing interest in the office and industrial market in addition to the strong presence it's had for some time in the retail sector in Manitoba.
"In recent times we have beefed up our brokerage operations to include an additional highly experienced industrial broker and there is lots of emphasis on that and lots of emphasis on office and the relationships come from outside the province," he said.
"We are taking on more and more industrial and office listings representing both tenants and landlords."
Shindico has developed more than eight million square feet of commercial real estate both retail and office, and has 2.5 million feet under development.
Shindico is the sixth Canadian location for CORFAC to go along with other independent affiliates in Vancouver, Calgary, Saskatoon, Toronto and Ottawa.
Shindleman said the affiliation will not affect his company's ability to co-operate with any other player in the business. But it does give his company access to a wide international network of contacts.
CORFAC firms have averaged over 8,500 completed transactions annually totalling more than 600 million square feet worth an excess of $5.2 billion for their customers.
City firm purchased
FIVE-L Equipment Ltd. of Winnipeg has been acquired by Wood Wyant, a subsidiary of The Sani Marc Group of Victoriaville, Que.
Wood Wyant and Five-L Equipment specialize in the distribution of sanitation products and equipment to sanitation, food and beverage and pool and spa businesses.
"With a presence of more than 40 years in Manitoba, we could not have found a better company in terms of promoting our values such as family spirit, respect and customer service. We are convinced that this transaction will ensure the continuity of our operations", said Rick Labossiere, president of Five-L Equipment Ltd.
Wood Wyant already had a presence in the Winnipeg market but a company spokesman said the acquisition of Five-L Equipment will increase its market share in the region.
"Five-L Equipment, a major player in the Winnipeg area, has experienced strong growth in recent years and will help Wood Wyant positioned itself as a leader in the province of Manitoba," said Pierre Goudreault, president of the Sani Marc Group.
"This acquisition is in line with our growth strategy and will be the first step to consolidate the presence of Wood Wyant in every province of the country," he added.
New-home prices rise
THE rising cost of land development drove up new-home prices in Winnipeg at one of the fastest paces in the country in December, Statistics Canada said Thursday.
The agency said Winnipeg's new housing price index was up 0.8 per cent from November to December and up 5.0 per cent from December 2011.
The year-over-year increase was the largest among the 21 metropolitan regions surveyed. The increase over the same 12-month period in 2011 was 4.6 per cent.
Winnipeg also tied St. Catharines-Niagara for the biggest November-to-December increase.
The agency said it was the largest monthly gain in Winnipeg since September 2011.
It said local homebuilders blamed the increase mainly on higher land development costs.
Nationally, Canada's new housing price index rose 0.2 per cent from November to December, and 2.3 per cent from December of last year.