Toronto Richmond Adelaide Centre: EY Tower | 188.05m | 40s | Oxford Properties | Kohn Pedersen Fox

Maybe, and not just Omers ... what about the TD deal ..
 
travis3000 said:
So this tower is now 90% leased out. I wonder if the OMERS deal screwed up the new commercial towers ?
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Why would it screw up any other towers? If anything it took a lot of space off the market and made it tighter. OMERS wasn't going to move anywhere else and could have easily stayed where it was. Same goes for Oxford. They leased the space because they weren't getting the leasing traction they wanted on the building. All of the OMERS/Oxford/Borealis space will probably be leased up floor by floor (though the Oxford space might goes as one chunk as it is VERY highly built out and all interconnected by internal stairs).

If TD is still looking for a new named tower for themselves there is still the need for one more tower in the core. I don't know of any other pure lead tenants that are out in the market. So it's pretty much 45 Bay bidding not to lose and I'm sure TD and their broker knows it. with 45 Bay going spec if Cadillac or Allied land TD and do their Front St. towers 45 Bay is screwed.
 
With 45 Bay being right at Union Station, they would have to screw it up pretty badly not to land tenants. It's location and design make it a no-brainer. So, as long as the price is right…

42
 
interchange42 said:
With 45 Bay being right at Union Station, they would have to screw it up pretty badly not to land tenants. It's location and design make it a no-brainer. So, as long as the price is right…

42
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Sure but at the end of the day there are only so many tenants actively looking for space at any given time; Heck they could be leasing the space for $1 a square foot but given the tenant will be locked into an existing contract this is a moot point (Ok I exaggerate). Anyway I believe TD was one of those big players out there actively looking for space, but clearly part of that need is satisfied at this point, if I recall they were looking for more.

Anyway the point is its not all about the right product, but timing also factors in as well.
 
surprising TD has that much need for space when they get the rest of EY Tower shortly and they just picked up space in that RBC building for the short term.
 
taal said:
Sure but at the end of the day there are only so many tenants actively looking for space at any given time; Heck they could be leasing the space for $1 a square foot but given the tenant will be locked into an existing contract this is a moot point (Ok I exaggerate). Anyway I believe TD was one of those big players out there actively looking for space, but clearly part of that need is satisfied at this point, if I recall they were looking for more.

Anyway the point is its not all about the right product, but timing also factors in as well.
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You make very good points however the "timing" still has about 3-5yrs+ to be right as 45 Bay is nowhere near start/completion. That leaves a lot of time for new demand to build as well as existing tenants to plan their exit from lesser buildings in lesser locations.

As interchange42 mentioned its location will attract tenants, even at the premium price expected at a premium location.
 
I've been hoping TD would opt for 160 front and have the tower end up a dark tint and be dubbed the dark crystal. However it'd probably end up resembling a big black butt plug... but that has a certain charm too.
 
From 77 King.

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Awesome shot! Hated that bunker of a parking garage so this is a massive improvement. Coupled with INDX, the street should become vastly prettier.
 
Picture taken March 7 2015

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