Are they consolidating these offices from a number of locations? Or all moving in there from…?
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Toronto Richmond Adelaide Centre: EY Tower | 188.05m | 40s | Oxford Properties | Kohn Pedersen Fox
taal
Senior Member
That's a lot of space, I think there was over 400K still available - I believe OMERS for the most part are located in the core (a lot in the brookfield plaza). So I'd guess its a relocation / consolidation with probably less space overall (but with room for more people).
Most of the relocations I've seen lately typically take the same amount of space, even though the company has a need for growth, so its simply downsizing the space per person, which is the norm nowadays.
Most of the relocations I've seen lately typically take the same amount of space, even though the company has a need for growth, so its simply downsizing the space per person, which is the norm nowadays.
maestro
Senior Member
Totally shocked OMERS would need that much space.
AHK
Senior Member
Why?
If, as indicated, 100 Adelaide would result in the consolidation of all of OMERS components?
While the investment side, and the overall executive and supporting administration functions may not require all that much space - the other functions of a retirement system include a number of labour intensive functions. Such functions, on behalf of all municipal employees in the province would include: intake of all newly hired municipal employees in the province to be covered by the pension plan, processing of all retirement benefits applications on behalf of newly retired employees, along with the death benefits processing and plan terminations for all deceased annuitants.
innsertnamehere
Superstar
Brookfield is a huge company. Its a huge player on the global office market and is based in Toronto.. It doesn't really surprise me. Nevermind OMERS also being counted in.
CITY_LOVER
Active Member
Aww! I wish the OMERS had signed up for their consolidated space (~400K?) in the Bay Adelaide Centre III tower so that way, it can start construction after completion of the second phase! 
maestro
Senior Member
Brookfield is a publicly traded company basedd out of New York. Only its Canadian operations remain based in Toronto. OMERS owns their competiiton, Oxford Properties.
maestro
Senior Member
Mithras
Active Member
Oxford has I think 6-8 floors of RBC plaza? OMERS occupies more than half of 1 University plus they have space in RBC Plaza as well for their capital markets group. Borealis is NOT Property Management it is a diversified infrastructure company (owns Bruce power, a gas company in the UK etc...). From what I've heard they already think they don't have enough room in 100 Adelaide to fit everyone even with the increased efficiency.
It's simply a matter of thinking that it will be easier to lease a bunch of floors in RBC and small boutique floors in 1 University than it will be to lease 450k sq.ft. of new space in 100 Adelaide competing against all the other new builds. RBC is much more likely to take a floor at the plaza than to take a floor at 100 Adelaide....
It's simply a matter of thinking that it will be easier to lease a bunch of floors in RBC and small boutique floors in 1 University than it will be to lease 450k sq.ft. of new space in 100 Adelaide competing against all the other new builds. RBC is much more likely to take a floor at the plaza than to take a floor at 100 Adelaide....
Mithras
Active Member
Aww! I wish the OMERS had signed up for their consolidated space (~400K?) in the Bay Adelaide Centre III tower so that way, it can start construction after completion of the second phase!
Kind of like saying Ford employees are going to start driving Chevrolets. Or Cadillac Fairview is going to move into a Brookfield building.
maestro
Senior Member
Oxford is not 8 floors. OMERS altogether occupies a chunk of space in RBC including capital markets and private equity. Still it's maybe 150K of space. One University is half of that. They must have more space elsewhere. I did get confused with Borealis.
Mithras
Active Member
I said 6-8 floors. I know Oxford has at least five but it's been a while since I've been in there and I can't remember. OMERS capital markets is in the building plus there is the whole Oxford call centre/310MAX space beside and behind Brooks Brothers. Borealis has space in the building and I think in 161 Bay. OMERS itself has multiple floors in 1 University which is its head office. I haven't been in there in a while but I know they have multiple floors (at least half the building).
Look this isn't conjecture or heresay. They ARE moving to 100 Adelaide. They are taking ALL of the remaining space. They already think it won't be enough.
You can all try to add up the space they have around town but its about what they are taking at 100 Adelaide and they hoped the increased efficiency (RBC plaza especially is very inefficient) would be enough to give them breathing room. It might not be. OMERS/Oxford/Borealis/OMERS Private Equity/OMERS Capital Markets/OMERS Investment Management/OMERS Strategic Investments will all look very different in a very short period of time and there is a reason they are all going to be under the same roof.
Look this isn't conjecture or heresay. They ARE moving to 100 Adelaide. They are taking ALL of the remaining space. They already think it won't be enough.
You can all try to add up the space they have around town but its about what they are taking at 100 Adelaide and they hoped the increased efficiency (RBC plaza especially is very inefficient) would be enough to give them breathing room. It might not be. OMERS/Oxford/Borealis/OMERS Private Equity/OMERS Capital Markets/OMERS Investment Management/OMERS Strategic Investments will all look very different in a very short period of time and there is a reason they are all going to be under the same roof.
CITY_LOVER
Active Member
Oops, I didn't realize that when I typed that.
If OMERS already thinks they are not going to have enough space in the EY tower, what are they planning to do about it?
Mithras
Active Member
No idea, but I would think that back office or lower esteemed groups might find themselves in 120 or 130 Adelaide. There is vacancy in those buildings and they are all connected so it would make sense. It's still two years away though.