Toronto EQ Bank Tower | 105.18m | 23s | First Gulf | Sweeny &Co

Tent was where the action was....

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btw in the states that's so much more the norm ! But there's a good reason as to why, it's not "Cohones" :) per say but rather there is a lot more competition developer wise, so there's always a race to go ahead with building. Whereas Canada generally has had just a handful of office developers that said race isn't there, so there's never a panic: "If I don't built it first others will get the tenants!" As a result Canada (the major cities) has always had generally lower office vacancy even though the states has a statically speaking, significantly lower unemployment rate ... again because of this conservative nature they can afford. If you control everything, you do ideally want low vacancy rates, building just enough to meet the demand halfway so folks don't completely relocate, but you keep rents high.

I wonder if there are slightly more players in Toronto now "great gulf" really only started building offices ? What about "QuadReal Property Group" ?


Who's the 20% tenant for this project btw ?
 
taal said:
btw in the states that's so much more the norm ! But there's a good reason as to why, it's not "Cohones" :) per say but rather there is a lot more competition developer wise, so there's always a race to go ahead with building. Whereas Canada generally has had just a handful of office developers that said race isn't there, so there's never a panic: "If I don't built it first others will get the tenants!" As a result Canada (the major cities) has always had generally lower office vacancy even though the states has a statically speaking, significantly lower unemployment rate ... again because of this conservative nature they can afford. If you control everything, you do ideally want low vacancy rates, building just enough to meet the demand halfway so folks don't completely relocate, but you keep rents high.

I wonder if there are slightly more players in Toronto now "great gulf" really only started building offices ? What about "QuadReal Property Group" ?


Who's the 20% tenant for this project btw ?
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AHK said:
Think Research Expands Footprint in Toronto

The Company will be an anchor tenant at the innovative 460,000+ square foot development at 25 Ontario Street.
  • This relocation and expansion is necessary as a result of the Company's rapid growth to over 220 employees and hundreds of clients worldwide.
  • Prior to Think Research's occupancy at 25 Ontario, the Company will be expanding its office size and relocating to the Globe and Mail Centre at 351 King Street East.
TORONTO, Oct. 25, 2018 /CNW/ - Think Research (the "Company"), a leading digital healthcare platform provider, today announced the location of the Company's new headquarters in downtown Toronto. To accommodate the Company's rapid growth, Think Research is poised to become the anchor tenant at 25 Ontario Street ("25 Ontario"), one of the most anticipated commercial developments in the city.


25 Ontario Street will be a defining piece of the growing development and vibrant technology scene happening in the east end of Toronto's downtown core. The building, which is currently under development, will be 18-storeys and 460,000 square feet once completed. Think Research will serve as an anchor tenant and occupy nearly 90,000 square feet in the new building.

"Think Research has undergone extensive growth over the past few years, expanding from a handful of employees to over 220, with plans for over 500 staff by the time we move in to 25 Ontario. This growth has been fueled, not only by national projects, but also by international growth – with presence in 27 states in the U.S.A., and the recent launch of our two GDPR-ready data centres in Europe. The benefits of being based in Toronto has helped make this growth possible," said Sachin Aggarwal, CEO of Think Research.

"First Gulf was an essential partner to help us solve our real estate needs, and we're proud to be an anchor tenant in the latest of their much-lauded development projects here in the city," continued Mr. Aggarwal. "Canada's, and specifically Toronto's, vast talent pool is part of the reason the city is undergoing the tech-renaissance that has seen so many firms expanding or even locating here."

"Think Research is the ideal partner to serve as an anchor tenant for 25 Ontario," said Brian Harrison, Sr. VP of Business Development at First Gulf. "The eastern part of Toronto's downtown core is quickly becoming the new hotspot for Toronto's technology firms, and Think Research planting its flag at 25 Ontario will only serve to further that development."

Prior to Think Research's occupancy at 25 Ontario, the Company will be expanding its office size and relocating to the Globe and Mail Centre at 351 King Street East.
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Thanks ! Ironic they're moving into First Gulf's earlier project first :) Interesting negoration that must have transpired.
 
Quadreal is owned by BCIMC which previous employed Bentall Kennedy and GWL manage its assets. They are new but not new competition. The US is grossly overbuilt and it's not a good thing. It's wasteful to have so many quality buildings rotting away The community also suffers through reduced property values and higher taxes. It's also likely the community originally contributed to the construction of those now shuttled buildings.
 
renx.ca

Spaces to open 4 new Toronto, Ottawa locations | RENX - Real Estate News Exchange

Co-working and flexible workspace provider Spaces will add more than a quarter-million square feet to its portfolio in Ontario in 2019, opening four new sites in Toronto and Ottawa. The 75,000-square-foot Ottawa location, in the heart of the city’s Elgin
renx.ca renx.ca
In Toronto, the company will open three locations in the east end, west end, and financial core. The buildings are First Gulf’s latest King Street East neighbourhood development The Shift (25 Ontario Street), the Royal Bank Plaza(200 Bay Street) in the heart of the financial district, and a heritage building in The Junction (1655 Dupont Street).

In total, the three Toronto sites will add more than 195,000 square feet of co-working space to the city’s inventory:

Spaces The Shift: Spaces The Shift, at 25 Ontario Street, is a First Gulf development coming to Toronto’s trendy King Street East neighbourhood. It will occupy over 105,000 square feet on six floors of the 24-storey LEED Gold office building. The new location features an exclusive 2,200 square foot terrace for Spaces members, the latest SMART building technology, and a dedicated stairwell for Spaces members from the main lobby. Spaces The Shift is slated to open in 2022.
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