Toronto CIBC SQUARE | 241.39m | 50s | Hines | WilkinsonEyre

  • Thread starter Suicidal Gingerbread Man
  • Start date
From today
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www.thestar.com

Canada Pension Plan investment board to spend estimated $300 million-plus on its lavish new office at CIBC Square

Source estimates 10-year cost of move at $300 million to $430 million. CPP Investments says it needs the new office to attract talent and CIBC Square is the only space
www.thestar.com www.thestar.com

“CPP Investments confirmed the move to 141 Bay St. — which is still being built — will take place within the next two to three years. It's not moving because it requires more space, as the new office will be 10 per cent smaller than the current office, at 1 Queen St. E., which CPP Investments owns outright.

A source familiar with Toronto’s office market estimates the total cost to lease 327,000 square feet at CIBC Square for 10 years, including expenses to build out the space, will fall between $297 million and $428 million, depending on the discount CPP Investments negotiates on the gross annual rent.“
 
...oh, they're moving from there. An interesting tower from a glass 'n granite PoMo perspective.
 
mburrrrr said:
www.thestar.com

Canada Pension Plan investment board to spend estimated $300 million-plus on its lavish new office at CIBC Square

Source estimates 10-year cost of move at $300 million to $430 million. CPP Investments says it needs the new office to attract talent and CIBC Square is the only space
www.thestar.com www.thestar.com

“CPP Investments confirmed the move to 141 Bay St. — which is still being built — will take place within the next two to three years. It's not moving because it requires more space, as the new office will be 10 per cent smaller than the current office, at 1 Queen St. E., which CPP Investments owns outright.

A source familiar with Toronto’s office market estimates the total cost to lease 327,000 square feet at CIBC Square for 10 years, including expenses to build out the space, will fall between $297 million and $428 million, depending on the discount CPP Investments negotiates on the gross annual rent.“
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Interesting, can someone with more knowledge correct my assumptions: Are they doing this because they expect to renovate the 1 Queen St East in the next decade or is it more likely they're looking to sell that asset?
 
Everyone here mostly talks about the building, but there’s also a part of this project that I find to be one of the most unique and attractive places in the whole city: the Rail Deck Park.

1. It’s elevated 20 meters in height, offering an open view of the surrounding area.
2. It’s surrounded by beautiful skyscrapers (and the Pinnacle Sky Tower will soon be visible too).
3. It’s incredibly tidy.

And that’s only half of it so far!

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