Toronto Southcore Financial Centre & Delta Toronto | 159.71m | 45s | GWL | KPMB

Filip said:
It's not a bank.
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To me the important questions questions are, they're fairly generic so I'd think you could answer (if you know of course):

1) Where is the company currently located ? In the core, somewhere else in the 416, or 905 ?

2) Is it an expansion / relocation only / relocation downsizing.

My main concern is a lot of companies are simply relocating in the core (no growth). Clearly that's not entirely the case currently, if it were vacancy rates would be much higher, as new space is added yet no extra new space is being full, which isn't the case today.
 
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It's foreign, it's not a bank, and they're consolidating offices from around the core. There must be some expansion involved because there's no way they currently have the equivalent of a third of Bremner tower spread around.

You won't guess this one that easily. I have seldom heard of this company before even though they're quite a juggernaut in their industry.
 
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In other news, two of our big banks are shopping for significant office space. The days of big office towers are dawning again and the pension funds are very optimistic.
 
I kind of hope it's something not directly in finance. Maybe a Google or a Microsoft? Even something biotech would be nice, but I presume they're more likely to set up outside of the city or even in the Discovery District. Be nice to see some diversity in all these office workers coming into the city
 
Google is moving in to the Peter Dickinson building at 111 Richmond Street West, which is being renovated currently.
 
Filip said:
In other news, two of our big banks are shopping for significant office space. The days of big office towers are dawning again and the pension funds are very optimistic.
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In the core I hope ? i.e. they plan on staying put location wise. This is probably relocation not space increase ?
 
taal said:
In the core I hope ? i.e. they plan on staying put location wise. This is probably relocation not space increase ?
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They wouldn't have it any other way. This is pure expansion. The banks are in dire need of space.

Anyway, this will be public soon enough, I'm sure it'll be a nice surprise.:)
 
Filip said:
In other news, two of our big banks are shopping for significant office space. The days of big office towers are dawning again and the pension funds are very optimistic.
Click to expand...

One other thing, I've noticed banks like to take smaller space in multiple buildings a.k.a RBC ? So does it necessarily mean larger office buildings again, or more smaller ones. By small I mean 700K range, so pretty big in GTA terms still :)

I guess the hope as well as the older buildings will be able to attract a lot of smaller tenants to fill all the vacated space (I'm thinking about the TD complex / BMO building, I don't think the other big bank buildings are really mainly occupied by banks anymore).
 
Filip said:
They wouldn't have it any other way. This is pure expansion. The banks are in dire need of space.

Anyway, this will be public soon enough, I'm sure it'll be a nice surprise.:)
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That's funny though we keep hearing talks of banks wanting to downsize a little in Canada over the next couple of years no ?

I think it the key take away is businesses that are already in the core are staying put ... that's great. I don't think we're seeing a lot of relocation from 905 to the core though.
 
taal said:
One other thing, I've noticed banks like to take smaller space in multiple buildings a.k.a RBC ? So does it necessarily mean larger office buildings again, or more smaller ones. By small I mean 700K range, so pretty big in GTA terms still :)

I guess the hope as well as the older buildings will be able to attract a lot of smaller tenants to fill all the vacated space (I'm thinking about the TD complex / BMO building, I don't think the other big bank buildings are really mainly occupied by banks anymore).
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BMO is close to 80% of FCP. I'd say Scotiabank and BMO are the ones most committed to their head office building, mostly because it's just such a huge amount of space.
 
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