dahusbandofbath
Active Member
So Colliers is the source! Thanks for the info, Taal!
For direct comparisons among major cities in Canada and USA, here's an interesting link:
http://www.colliers.com/Country/UnitedStates/content/Colliers_officenahighlights2010Q1_d.pdf
wow. it looks like for combined downtown/suburban office space, we're number 2 in north america for total inventory. behind nyc, but ahead of dc and chicago. way ahead of boston, philly, san francisco, and houston.
According to this report, the total office inventory in downtown + midtown, which together matches your definition of "downtown", is about 81 500 000 square feet.
Hmmm.
With the currently under construction office space, Toronto would be almost identical to San Francisco, at least for downtown office inventory.
Colliers have been producing reports like this for years and years (decades!) as do the other commercial brokerage houses. If they were dramatically miscounting the size of the Toronto office market (as suggested here), someone would have called them on it years ago.
Unless we assume that no one is as smart as the people on Urbantoronto.ca!!?
Their definitions (in terms of geography and what constitutes office) might differe from what is perceived here but, that aside, if they say Toronto has 180 million s.f. of office space....I am inclined to believe it.
I agree, but according to certain forumers on UT ..it cant be true, the office vacany rate is skyrocketing here in Toronto, and there is no way more office space can be built on spec without securing tennants... blah blah blah
I was not aware that downtown was "eroding" and that it was "all" becoming condos......BayAddlaide 1.1million s.f., Union Tower 800k s.f., 1.2 million s.f., Maple Leaf Square, 200k s.f., 800k s.f......what is that 4 million new s.f. of office space....without losing any buildings and without counting the second building of SouthCore!
I only suggested one possible reaction from Lanterra/CF to this new building....did not say it would be successful nor did I say it was good....but to counter me with some sort of "downtown eroding as everything turns to condo" argument is, frankly, laughable.