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

It'll be interesting to see if they manage too attract anyone to the site (office wise) ... I wager it'll be a bit of a challenge to say the least ... NYCC hasn't been doing great lately (it's Ok) with a lot of tenants moving to downtown.

It'll depend on how discounted the rents are vs say NYCC and even VCC.
 
Not really. This is more of the NYCC market, maybe competing with the Lesmill office area as well. Both have pretty high vacancy rates from my understanding.

the selling feature here may be that it still has subway access but access from the 401 isn’t quite as crazy as it is at Yonge.

Downtown Markham competes more so with the 407/404 area and the Steeles/Woodbine area.

VMC is sort of unique as there isn’t a lot of class A space in Vaughan currently, it seems to compete with a lot of other areas to pull tenants, and seems to be “up converting” existing Tenants in Vaughan that weren’t previously in comparable space.

with this building and the new space at 4800 Yonge, there will be quite a bit of new office space in the area, other than the Hullmark Centre there hasn’t really been any significant space constructed in the area in the last 15 years.
 
innsertnamehere said:
with this building and the new space at 4800 Yonge, there will be quite a bit of new office space in the area, other than the Hullmark Centre there hasn’t really been any significant space constructed in the area in the last 15 years.
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Don't forget G-Group's (& silent Lalu) Ellie-Condo 10-storey office tower (no sales interest) at 5220 Yonge - stuck in building permit stage for a year already (being stalled) - total office space comparable to Hullmark Centre's 12-storey office with 3 storey in podium completed in late 2014 and like HullmarkCentre will be all Office-Condo which is now 2/3 empty concrete shells!

Menkes 4800 Yonge is just starting Building Permit and will hit exactly 15,000 square metre of office space just to trigger getting $5million back for subway entrance of their $11.5million Section 37 Community Benefit fee as per loop-hoe in North York Centre Secondary Plan. BTW, promising no office-condo

Token office spaces coming to North York Centre:
- 5400 Yonge (development proposal) which replaces office tower proposed to have token 1,714 square meter of office space (6% of its development since it's replacing small office building)
- Aoyuan's M2M (Phase 1 under construction) will have 3,968 square meter of office space (token 5% of it's development since it replaced a 11-storey office tower)

Here, Concord-Adex is promising 36,085 square meter of office space
 
Away from all the doom and gloom from the above post of how office space is not working in North York, i'm hoping this gets built and becomes a successful development for that area
 
Yeah I'd agree with comments above that this really doesn't compete with downtown Markham, that's a different market as it stands - even some of the companies that have moved there (e.g. aviva) were from Scarborough.

I'd argue VCC is a much closer comparison based on the rental rates and the subway location.

Yeah NYCC, which by the way is not "doom and gloom" whatsoever ! Again the vacancy rate is not high by any means (sure it looks high if you compare it to downtown) but for a typical market, and it has been increasing over the years, for the single reason of tenants moving downtown (or Yonge and Bloor) ... but it's new construction that's effectively not happening unless forced ... the office space in the Menkes development and Hullmark and even the others are all what I'd consider "forced" ....
 
Automation Gallery said:
Away from all the doom and gloom from the above post of how office space is not working in North York, i'm hoping this gets built and becomes a successful development for that area
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And just how was my post "doom and gloom" when I'm just taking an inventory of the office space that's been built recently or coming soon.
sunnyraytoronto said:
Don't forget G-Group's (& silent Lalu) Ellie-Condo 10-storey office tower (no sales interest) at 5220 Yonge - stuck in building permit stage for a year already (being stalled) - total office space comparable to Hullmark Centre's 12-storey office with 3 storey in podium completed in late 2014 and like HullmarkCentre will be all Office-Condo which is now 2/3 empty concrete shells!

Menkes 4800 Yonge is just starting Building Permit and will hit exactly 15,000 square metre of office space just to trigger getting $5million back for subway entrance of their $11.5million Section 37 Community Benefit fee as per loop-hoe in North York Centre Secondary Plan. BTW, promising no office-condo

Token office spaces coming to North York Centre:
- 5400 Yonge (development proposal) which replaces office tower proposed to have token 1,714 square meter of office space (6% of its development since it's replacing small office building)
- Aoyuan's M2M (Phase 1 under construction) will have 3,968 square meter of office space (token 5% of it's development since it replaced a 11-storey office tower)

Here, Concord-Adex is promising 36,085 square meter of office space
Click to expand...

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

I wonder if this will end up being another Farm Boy given the size of the supermarket space.
urbantoronto.ca urbantoronto.ca

If I wanted "doom and gloom" I would have mentioned Gupta/EastonsGroup 4050 Yonge (half Hilton hotel - half office condos) that'll likely be cancelled (developer already stalling on building permit for 3 years) since their office condo isn't selling since previous provincial Liberal started to tax foreign real estate investments.

Wow, @Automation Gallery is "hoping" this office space gets built,... I never doubted this will get built - heck, I can basically guarantee all 36,085 square meter of this office space will get built - one way or another - even if this developer Concord-Adex goes out of business, all of this office space will still get built! Do you know how & why??? Hint: method of enforcing office space gets built is more effective than what @taal considers “forced” at Menkes 4800 Yonge and Tridel Hullmark Centre
 
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What the site currently looks like. I presume the construction workers at Park Place are parking here.

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