LOL.... I'd say it's impressive
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Well surprising because Toronto has not had a surge in demand for corporate office space, yet investment continues in our commercial real estate market. |
Yeah, how is it not impressive? There are 29 other cities on the list.
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It seems impressive to me that Toronto is in the same ballpark as LA, Chicago, Shanghai, or San Francisco. I would not necessarily have expected any Canadian cities to be near the top in the world -- in past decades they probably were not.
Calgary may be getting more investment per capita but I'm not sure why that means nobody's allowed to mention Toronto. |
Calgary has 1/2 the investment of Toronto, even though it's metro is 1/5 the size.
Toronto has more than 1/3 the investment of New York City even though it's metro is almost 1/4 the size. Now, can't we all get along? :) |
Toronto is exactly 1/3 the size of New York.
So we are not outperforming New York, and no we cannot all get along. :) |
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Calgary top-quality downtown office space heading for zero vacancy
Read more: http://www.calgaryherald.com/homes/C...#ixzz1lit5FtAq Quote:
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Good news for Calgary, I hope Toronto can share in some of the residuals of Calgary's oilsands growth, with investment in office space for 2012 keeping steady with that of Calgary.
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Good news for Calgary.
Curious to see what shakes out for Edmonton given that there are 2-3 players considering a few different options. |
They say a new office development will be announced in the spring. City Center perhaps?
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What are the other likely developments? |
Manu 2 - still being worked on behind the scenes... no hint at release but I am thinking 2012 announcement still.
Stationlands 2 - Qualico showed a rendering and permits are basically in place. Melcor has a 450k tower on an uber prime lot (jasper 102) being marketed that would be ideal for Enbridge Procura still has 2 sites it could move forward, but I dont see it at the moment. Oxford staples lot has a rumoured design done of about 400k... |
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You never know, things could get crazy and Herald Square could also go. |
A nice 300m tower would be good for Cow Town, but I'd hate you guys for it.
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About 30% of O&G energy financing is done by pure-Calgary based companies, about 50% from Canadian companies based outside Calgary (mainly Toronto) and about 20% international based. For Canadian non-Calgary based and international, the much of the work will be local (most Canadian banks have all their energy/O&G groups based in Calgary), but possibly up to half that work would be in Toronto as lots of the capital funds (pensions) are based there. Given that, I think you could say that about 20-30% of the O&G related financial work in Canada is done in Toronto with the rest done through Calgary offices. That said, I have no idea how much that relates to the overall Toronto financial industry. [/Anecdotal] |
I'd be willing to bet Herald Square is gonna be started in a years' time. I think there's already been notices given to some small tennants on that parcel.... I think that's what I heard.
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