Toronto 16 York | 154.83m | 32s | Cadillac Fairview | a—A

sub-URBAN said:
If it's true that Sunlife is going in this building then that's a shame. I would have hoped to see new companies moving in here, not companies that have been here for decades moving down the street to a new place. What's wrong with their King & University office?
Click to expand...

Well that's their prerogative! is it not?!
 
This building's street presence will be important since the intersection and all of Bremer have evolved so nicely. There's a good energy and collection of restaurants that have established at the corner, this should tie it all together. Would be nice also if the design of the tower differentiated itself a bit more.
 
A year plus bump I was hoping for more info. This is a great location, surprised it has taken so long with not even a peep about potential suitors.
 
Hopefully it get it will be redesigned. The last thing that's needed in this area is another mundane, neomodernist box.
 
Toronto's downtown vacancy rate has dropped to 2.6% and suburban GTA vacancies up to 9.8%

This is a very tight market and I fully see Bay Park Place and at least another (160 Front or Union Centre) rising alongside it within a year. One decent sized tenant can get this one going too.

Toronto is on a good road right now. Companies are realizing they can't attract the right talent by being located in the 905. There is a massive repatriation of space happening, including banks moving some functions back downtown.
 
the new space coming online in the next few months should jump the vacancy rate a bit, but 2.6% is crazy low. Bay Adelaide will be opening very soon, adding a million square feet to the market, with the new Sun Life building not too far behind.. but yes, I see a few new announcements of new buildings going up soon..
 
innsertnamehere said:
.. but yes, I see a few new announcements of new buildings going up soon..
Click to expand...

Maybe this will kickstart the development of 16 York/156 Front St.................

Cadillac Fairview sells 30% of Toronto’s TD Centre to Ontario Pension Board
Cadillac Fairview said it has agreed to sell a 30 per cent stake in the Toronto-Dominion Centre office complex to the Ontario Pension Board, the companies said in a statement.

The terms of the deal weren’t disclosed and is expected to close on Oct. 1, the companies said.

The TD Centre is located in Toronto’s financial district and comprises 4.5 million square feet of AAA office and retail space spread over six towers, the companies said.

Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan, also agreed to sell a 30 per cent stake in another office development in downtown Toronto to Ontario Pension Board, the companies said. The development is located at 16 York St. and will consist of a 32-storey office tower with 850,000 square feet of leasable area.

The transactions will build on the existing partnership between the companies, which co-own two properties in downtown Toronto, the RBC Centre and a development property at 156 Front St. West.

CBRE Ltd. acted as Ontario Pension Board’s financial adviser, while Blake, Cassels & Graydon LLP is acting as OPB’s legal adviser

Ontario Pension Board administers the pension plans of 40,000 public service pensioners and employees in the province with C$23 billion ($17.5 billion) in assets under management.

http://business.financialpost.com/n...f-torontos-td-centre-to-ontario-pension-board
 
definitely could be a sign of future construction. happens all the time. construction is capital intensive afterall.
 
I was wondering when the office component of ICE was going to happen....guess its finally on its way.
 
I don't think that's an indication of anything either way (i.e. whether construction is imminent or years out) they just sold their stake in the project. I haven't heard anything about a tenant being lined up for this one yet.
 
You must log in or register to post here.

Back
Top