Toronto 1181 Sheppard Avenue East | 126.85m | 38s | Concord Adex | DIALOG

Tuscani01 said:
The locations being looked at are in Toronto. Yonge and Finch is one location.
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So they are leaving Y&E though? Why? Out of curiosity? I don't think rental rates at Yonge and Finch are much less.
Very glad they're staying in the 416 though.

Also, I don't think there's any space available at Y&F ! Actually I'm fairly sure about that, maybe 30-40,000 square feet max - not sure if that's enough and I doubt it's contiguous.
 
taal said:
So they are leaving Y&E though? Why? Out of curiosity? I don't think rental rates at Yonge and Finch are much less.
Very glad they're staying in the 416 though.

Also, I don't think there's any space available at Y&F ! Actually I'm fairly sure about that, maybe 30-40,000 square feet max - not sure if that's enough and I doubt it's contiguous.
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I don't have much detail. Its all hush hush right now. They aren't moving to save money, they are moving to get more space.
 
Tuscani01 said:
I don't have much detail. Its all hush hush right now. They aren't moving to save money, they are moving to get more space.
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Cool, thanks for the info!

Any idea how much space they occupy at Y&E currently? Just out of curiosity?
 
According to DTZ Barnicke's current office space survey, there are no opportunitites to lease 100,000 or more square feet of contiguous space in the North York Yonge Street corridor. This decision comes as a surprise, as I had thought it was a firm decision to build on Sheppard.
 
Yes, and forget the survey for a second - I recently had a look at the buildings at Yonge and Finch ... I mean there's only about 7 - 10 - none of them have large amounts of space at all.

Closer to Yonge and Sheppard and NYCC - there is probably a couple blocks of contiguous 50,000 square feet - maybe in just 1 building actually.
 
How much space does the office component of Hulmark Centre have and is it already leased?
 
If I am not mistaken the lands were rezoned to permit the 18 storey office building. Someone else could always purchase the land and build the office tower. It probably won't happen anytime soon, but still could one day.
 
This would presumably be a big blow for Canada Square -- how much space there does Canadian Tire occupy?
 
Traynor said:
How much space does the office component of Hulmark Centre have and is it already leased?
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A good 200K and it's pretty much all leased from what I recall (not sure about this) - but recall these were geared toward condo offices i.e. you buy them and it's likely professional use i.e. dentist ... so this isn't that likely. Would be a could fit.


I do suspect they have at least (or around) 200K at Y&E ... and yes it'll be a blow .. but I mean one that was predicted for a little while now ... the Y&E market (this goes up and down 2KM Yonge at least) has about 4.5 million square feet, so it's not that big in the large scheme of things ... the key is if the space can be absorbed in a short period of time ... there's a good 100K at the large Y&E complex available now (RIO can) ... but I think the over vacany rate for this node is still pretty low, around 8-9%.
 
The City has already done a secondary plan for the redevelopment of the Canada Square site (along with the old bus yard and some other crap).

http://www.toronto.ca/planning/yonge_eglin.htm

Vultures.

If Canadian Tire moves it could be one of the few leases big enough to trigger a large office building in the City. It was leases of around 400-600 ksf that led to RBC and Bay Adelaide. This could have the potential to be two large projects (one new tower plus the Canada square redevelopment).
 
taal said:
Yes, and forget the survey for a second - I recently had a look at the buildings at Yonge and Finch ... I mean there's only about 7 - 10 - none of them have large amounts of space at all.

Closer to Yonge and Sheppard and NYCC - there is probably a couple blocks of contiguous 50,000 square feet - maybe in just 1 building actually.
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The office building in front of the Toronto Centre for the Arts may have potential. Kraft recently purchased Cadbury and Cadbury occupies a good chunk of space in this building. If Cadbury were to leave this would free up some prime space.

The City deperately needs to entice office development to this area - before it's overrun entirely by condos. They need to more quickly bring taxes in line with the 905 to attract commercial development. It's the geographic centre of the GTA, where 2 subway lines cross and it's next to the 401 - yet they the private sector isn't interested in bringing more office jobs to this key node. We keep hearing about Smart Growth but where's the Smart Density strategy.
 
valkoholic said:
The City has already done a secondary plan for the redevelopment of the Canada Square site (along with the old bus yard and some other crap).

http://www.toronto.ca/planning/yonge_eglin.htm

Vultures.

If Canadian Tire moves it could be one of the few leases big enough to trigger a large office building in the City. It was leases of around 400-600 ksf that led to RBC and Bay Adelaide. This could have the potential to be two large projects (one new tower plus the Canada square redevelopment).
Click to expand...


hmm, didn't you read the post that started this thread after a year or so :)
The point was they were planning on building a somewhat large office building around Sheppard and Leslie but that plan was canceled (apparently) and as an alternative they'll simply lease space in existing offices. This could work only if they're willing to take space in multiple buildings but then why wouldn't they just stay where they are.

Without looking at the link above, that plan centers around the old bus station - the office buildings (also TVO's headquarters and various other agencies) Canadian tire only owns most of the space in one building - will remain as is ...
 
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