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You do understand there is a paradigm shift going on in computing at this very minute?
They way you compute and the devices you use to get on the Internet are changing. My company is on the cutting edge of this new frontier. Worldwide Financial Crisis would allow me to get back in the selling game, which I am unable to do now due to too much business. |
Calgary magnet for big players
Claudia Cattaneo, Financial Post; Western Business Columnist ยท Sept. 26, 2011 | Last Updated: Sept. 26, 2011 7:19 AM ET http://www.financialpost.com/news/Ca...226/story.html Like the rest of the country, Calgary has seen its ups and downs over the past decade, but what hasn't changed is its ability to attract corporate headquarters. The latest one landed last week, when Aecon Group Inc., the largest publicly traded construction and infrastructure development company in Canada, opened a co-head office in Calgary to support activity in Alberta, British Columbia and Saskatchewan. It mirrors its long-standing legal headquarters in Toronto. Each office will employ 15 to 20 people. The move, announced in the middle of another scary week in the markets, reinforces a trend that, if it continues, could see Calgary surpass Toronto in the next 10 years in terms of the number of headquarters, said Wilf Gobert, chairman of Calgary Economic Development (CED). |
Just read an article about 5 new office towers for Vancouver. The latest being built by Credit Suisse. It also states that according to cushman wakefield Vancouver has the lowest office vacancy rates in the Americas. (too old to know how to post the article).
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I'm dying to find out of which 60 International companies headquartered in Toronto now, plan on moving or closing up shop in the next 10 years. |
Some of these guys like Wilf Golbert, while well intentioned, get a little carried away with their predictions. Like all these companies are gonna pack their bags and move to Calgary! They're glorified cheerleaders.
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Construction starting on new office tower in Toronto in November
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http://urbantoronto.ca/news/2011/09/...harbour-street |
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The significant trend is that more and more multi-national corporations see Calgary as the place to manage their Canadian presence. In the past, Toronto was almost always the default choice. There has also been a rush of new consulates opening/expanding in Calgary, not so much to service the needs of expats but to establish business links. For example, http://www.vancouversun.com/business...990/story.html |
DOUG: I'll buy that. Probably grow much faster than TO.
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I agree with Toronto no longer being the default choice and that's a good thing however, Toronto will remain the first consideration for the vast majority of international corporations unless Calgary manages to add two million people over a night.
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Toronto Office Market is Booming!
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DT Toronto's office market is healthy, it isn't booming... and right now that is probably a good thing.
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400,000 sq feet of absorption per month, every month in the last quarter was something that hadn't been accomplished in over 11 years. Even with new space coming online in Toronto, office vacancy fell to 5%.
Therefore, it is fair to say for Toronto, this is a boom! |
Did you even read the report? It was 400k per quarter up to Q4-2010. Q4 actually saw negative absorption of nearly 200,000sf in the financial core, with fringe absorbtion taking greater downtown to a barely positive number. Q1 and Q2 of 2011 saw absorption rates returning to healthy levels but showing a declining trend. Cushman's own predictions are that absorption will remain positive but moderate and that vacancy will likely rise over the rest of the year.
http://www.cushwake.com/cwmbs2q11/pd...ronto_2q11.pdf Like I said, healthy but not booming. The office market was booming, and that's why you saw BA, RBC, Telus, etc... It has since returned to a healthy rate and as well like I said, that is probably a good thing for the time being. |
ok, but still....
Vacancy is only 5.3%, so it's a little over half of Calgary's, which means we should be getting some more office towers action and leasing shortly. |
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The report I quoted had Calgary's vacancy at 9.1 and Toronto at 5.3 for the end of Q2 - 2011. An apples vs apples situation.
The report your quoting has Toronto at 2% vacancy in the CBD. |
Calgary's vacancy rate is only 9% if you include empty parks and industrial tracts.
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Guy show'em how it's done! lol! |
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