Toronto 160 Front West | 239.87m | 46s | Cadillac Fairview | AS + GG

buildup said:
I hear Google is going on a hiring spree here, perhaps they want to scoop ex-RIM employees from Waterloo who can commute in. Also stories about creative types wanting to be downtown.
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No ... they just moved to a new location downtown, taking about 60K of space (though they subleased some back) ... a lot of their employees are in Waterloo and want to stay there.

600K is a huge amount, only a local HQ could take up that much space, even that's pushing it. Hard to believe it'll be anything in IT ... I imagine most of those wouldn't even chose downtown seeing how all the local big boys are in Markham or the like. Take IBM, their Canadian HQ, is about 600K but happily at Steeles, and their main Canadian development lab in Markham as well at around 500K
 
taal said:
No ... they just moved to a new location downtown, taking about 60K of space (though they subleased some back) ... a lot of their employees are in Waterloo and want to stay there.

600K is a huge amount, only a local HQ could take up that much space, even that's pushing it. Hard to believe it'll be anything in IT ... I imagine most of those wouldn't even chose downtown seeing how all the local big boys are in Markham or the like. Take IBM, their Canadian HQ, is about 600K but happily at Steeles, and their main Canadian development lab in Markham as well at around 500K
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I was actually thinking about that myself... IBM is so big and international that it's easily forgettable it's American.
 
Filip said:
I was actually thinking about that myself... IBM is so big and international that it's easily forgettable it's American.
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Yes but they're not moving ... no way ... oh I wish they would ... my commute !


Anyway, its actually kind of fun to play these guessing games, but only when we know for a fact there is indeed a 600K tenant waiting in the wings ... here's the thing, the comment Left Coaster made (who's very informed btw) didn't really allude to where the tenant would be coming from but ... it was more in regards to this particular office development, but a tenant doesn't decide to locate to office tower ... they decide to move to an area and then explore options ... so such a tenant would be interested regardless of this development, but they may still be weighing different locations (i.e. suburbs / downtown / ...).

But no point in playing until it turns into something more then a rumor ... personally I doubt its much more then that, the 600K aspect at the very least.
 
taal said:
Yes but they're not moving ... no way ... oh I wish they would ... my commute !


Anyway, its actually kind of fun to play these guessing games, but only when we know for a fact there is indeed a 600K tenant waiting in the wings ... here's the thing, the comment Left Coaster made (who's very informed btw) didn't really allude to where the tenant would be coming from but ... it was more in regards to this particular office development, but a tenant doesn't decide to locate to office tower ... they decide to move to an area and then explore options ... so such a tenant would be interested regardless of this development, but they may still be weighing different locations (i.e. suburbs / downtown / ...).

But no point in playing until it turns into something more then a rumor ... personally I doubt its much more then that, the 600K aspect at the very least.
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There is nothing misleading about what I'm saying. The 600k figure sounds about right in my head. I remember it being discussed but I was already somewhere else by then (bar).
 
How do you redesign a building that hasn't been built yet to attract a certain tenant. Once you take away the cladding aren't most buildings pretty well the same inside and any new tenants will configure the interior for their purposes.
 
The company might want a more iconic design for their headquarters, and perhaps need more space.
 
Filip said:
I think it's the Umbrella Corporation.
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Citi are very international.

citigroup-umbrella-ebay.jpg


Otherwise, maybe one of those mining companies that has swallowed up 100 smaller companies? A European firm angry at new taxes?
 
Filip said:
There is nothing misleading about what I'm saying. The 600k figure sounds about right in my head. I remember it being discussed but I was already somewhere else by then (bar).
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Didn't claim you were being misleading ;) Just implying 600K is a huge figure for one company, for any one lease deal, it doesn't happen often in Toronto, you see it on renewals for the big banks. Or in Calgary for the big energy companies ... but that's just about it. Oh and of course there's the government as well.
 
canarob said:
Otherwise, maybe one of those mining companies that has swallowed up 100 smaller companies? A European firm angry at new taxes?
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Hmm, that sounds entirely plausible now that you mention it. Afterall, Toronto is supposedly the mining capital of the world, and mining companies are quite international in scope. It's also consistent with Filip's comment that knowing the industry would give it away, since there are only a small handful of massive multinational mining companies.

Rio Tinto has a lot of North American (as well as Australian) properties, but their headquarters are in London. They'd be my wild guess.
 
Ramako said:
Hmm, that sounds entirely plausible now that you mention it. Afterall, Toronto is supposedly the mining capital of the world, and mining companies are quite international in scope. It's also consistent with Filip's comment that knowing the industry would give it away, since there are only a small handful of massive multinational mining companies.

Rio Tinto has a lot of North American (as well as Australian) properties, but their headquarters are in London. They'd be my wild guess.
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That's a really good guess! I think I'll go with that one as well.

Ah yes, the final hint I forgot to add: this company already has operations in the Toronto area.
 
Filip said:
That's a really good guess! I think I'll go with that one as well.

Ah yes, the final hint I forgot to add: this company already has operations in the Toronto area.
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I don't believe Rio Tinto does actually ... they do have something in the Montreal area.

One thing to note is mining companies don't require a lot of office space for their HQ, that's evident by the amount of space the big boys like barrick gold and the like take.


I'm guessing its not in the mining sector.
 
btw I posted this on SSP, might find it interesting / others may have some insight:

Ah wait, there is one interesting thing:

ING Canada, their building near the 401 / 404, has had a lease sign on it for a long time (that's 160K worth of space ... they take the entire building), moreover they have another building closer to Steeles (both in Toronto proper).

I don't think they've committed to moving so they could simply sign the space back but I've heard rumors that they're looking to move downtown (by some folks) and others who said they are looking at 905 options.

I imagine they'd want to consolidate space, so we're likely talking 200K plus at the least.


Having said that these plans may be put on hold now that they've been bought ... but there is still a lease sign on the building.
 
Remember this site is a stone's throw from the Gehry and Fosters funky proposals...when all is said and done, this area will actually become a very interesting spot in our skyline:cool:
 
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