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-   -   Canadian Office Space Market (http://forum.skyscraperpage.com/showthread.php?t=192174)

TallBob Sep 17, 2011 6:26 AM

Don't foget in Calgary "Herald Square" I believe just filed a DP last week. 220-230 meters if I'm correct. Of course that does'nt mean it's gonna get built.

Acajack Sep 22, 2011 10:34 AM

Quote:

Originally Posted by Andy6 (Post 5413829)
Where is Quebec City's principal business district - the place where real companies and accounting firms and commercial law firms etc. are concentrated? .

It is very spread out but the biggest area would be along a corridor to the west of the old city on and around boulevard Laurier in the general vicinity of Ste-Foy (former suburb now merged with the city). Laurier changes names a few times along this stretch but there are quite a few businesses located in this area. Mostly in three to five story buildings, though there are taller ones as well.

whiteford Sep 22, 2011 4:53 PM

Quote:

Originally Posted by TallBob (Post 5413965)
Don't foget in Calgary "Herald Square" I believe just filed a DP last week. 220-230 meters if I'm correct. Of course that does'nt mean it's gonna get built.

they mean to build.:yes:

caltrane74 Sep 22, 2011 5:54 PM

Herald Square 230 meters!!

that's crazy.. that would make it almost as big as the Bow!

Oh, I see Calgary wants to play in the big leagues with the tdot. It's all good, we're gonna play hardball forsure!

freeweed Sep 22, 2011 9:09 PM

Quote:

With a central district inventory of just over 42.2 million square feet, Calgary has experienced absorption this year of more than 1.8 million square feet.
We could build another Bow every single year at this rate. In the middle of a huge economic downturn around the world. And considering it will be 3 years before anything substantial comes online, I suspect we'll be back at 1-2% vacancy before anything new opens up. Hell, at current rates we could dip to zero in just over 3 years. We'd have to have 3 Bows built by then just to get back to "healthy" rates of 5-7%.

Insane. Absolutely insane. What happens if the economy actually gets GOOD again??

To answer some of Caltrane's questions about tenants freeing up space - that's not how it's working here. Companies are essentially reserving space even if they don't need it right this instant, so anything that is vacated is already accounted for. The Bow fills up, and all of EnCana/Cenovus's vacated space is already spoken for. Anyone taking that... THEIR vacancy is already spoken for. There simply isn't anything available anymore. Companies are planning for the upcoming crunch and it's rapidly disappearing. Many large companies now have their own "internal" vacancies, yes - but that's not available on the market.

caltrane74 Sep 22, 2011 9:12 PM

That's the thing, the economy won't be good again. EVER!

freeweed Sep 22, 2011 9:20 PM

Quote:

Originally Posted by caltrane74 (Post 5419974)
That's the thing, the economy won't be good again. EVER!

:haha: That's fine, we're doing just fine here the way things are.

caltrane74 Sep 22, 2011 9:31 PM

Yeah, same here. - If Europe and the US go into economic disaster, I'll just put my feet up on my desk and have a good laugh.

(losers)

lol!

caltrane74 Sep 22, 2011 10:17 PM

This thread is interesting for me because....

Toronto was Calgary.

We were the number 2 city, trying to overtake the established metropolis. We use to be all business, all money, going after the culturally refined number one.

Now Calgary is going for the title.

Here's your chance, step into the ring with the big boys. Let's see what you've got. First challenge, let's see who gets the shovel in the ground for the next 500 ft plus office tower.

TallBob Sep 23, 2011 2:37 AM

Heck the only thing I think that keeps Calgary from a couple or more 250+ meter buildings is probably more due to the perception that we're not in Torontos league (even though the amount density is pretty impressive already), so we should probably be a little on conservative side. Sounds a little "naive" but probably does exsist.

LeftCoaster Sep 23, 2011 1:07 PM

Quote:

Originally Posted by caltrane74 (Post 5420053)
This thread is interesting for me because....

Toronto was Calgary.

We were the number 2 city, trying to overtake the established metropolis. We use to be all business, all money, going after the culturally refined number one.

Now Calgary is going for the title.

Here's your chance, step into the ring with the big boys. Let's see what you've got. First challenge, let's see who gets the shovel in the ground for the next 500 ft plus office tower.

Ya except Toronto wasn't 1/5th the size of Montreal when it was competing with it for the title... not to mention that Calgary is growing with completely different jobs. Calgary's growth isn't competing with Toronto but fueling even more growth in Toronto. A vast amount of the banking jobs in Toronto are to service the energy companies in Calgary.

whiteford Sep 24, 2011 3:22 AM

when Calgary business is good Canadian business is good. it all works together. all that oil money flowing from Calgary, flows straight toward Toronto, and Ottawa soon even the BC economy will be largely fueled by oil that has all or most of its operations in good ol Calgary. the future of BC's economy will be largely based in some honken, super-massive skyscraper in downtown Calgary. i really believe that it will reach that level of importance, once the pipelines begun to be built and even after their completion, were-as the taps have been turned on. the BC jobs availability will skyrocket beyond anything it has ever experienced in the past. to a lesser extent, Ontario will experience much the same domino effect. big oil means big money. much bigger than any other type of profit based ventures that Canada has going for it, past, present or future. i have foreseen it. :rainbow:

TallBob Sep 24, 2011 4:57 AM

It'd still be a big plus if Calgary had a couple of large banks and/or other type of financial firms not neccessarily related to the Oil & Gas industry headquartered there.

whiteford Sep 24, 2011 5:24 AM

Quote:

Originally Posted by TallBob (Post 5421635)
It'd still be a big plus if Calgary had a couple of large banks and/or other type of financial firms not neccessarily related to the Oil & Gas industry headquartered there.

well that would be just perfect then wouldent it. then again, no where is perfect. no where! I REPEAT, NO WHERE IS PERFECT. not even New York City, which is as close to the perfect office environment as you can ever hope for, has its shortcomings:shrug:

TallBob Sep 24, 2011 7:40 AM

I hear ya! You can have New York!

caltrane74 Sep 24, 2011 1:07 PM

Oops double post

caltrane74 Sep 24, 2011 1:11 PM

Quote:

Originally Posted by LeftCoaster (Post 5420685)
Ya except Toronto wasn't 1/5th the size of Montreal when it was competing with it for the title... not to mention that Calgary is growing with completely different jobs. Calgary's growth isn't competing with Toronto but fueling even more growth in Toronto. A vast amount of the banking jobs in Toronto are to service the energy companies in Calgary.

Oh geez, that was supposed to be a secret.

Yes, it's true that Oil in Alberta, Diamonds in NWT, Potash in Saskatchewan and Copper in the North of Ontario are fueling hyperactive growth in the banking and financial services sector in Toronto.

Let's see if all this pays off with a nice skyscraper downtown to put all these bankers, lawyers, and accountants in.

WhipperSnapper Sep 24, 2011 1:59 PM

The jobs the banks are currently offering are not something to admire. I don't see them building shiny new towers for people they are unwilling to even hire on.

caltrane74 Sep 24, 2011 2:19 PM

My company is small, but in the past year we've increased our payroll by 50%.

Mobile Apps, e-learning, and online media content are where it's at. I still haven't even started selling mobile apps, or e-learning as of yet. When I do, we'll have to double our office space. It's gonna be crazy, but we can't handle the amount of business we have now. Worldwide Financial Crisis 2 can't come soon enough for me.

Doug Sep 24, 2011 2:21 PM

Eastern Canadian investors, including the big banks, largely missed out on the O&G industry from day one. Most of the original investors after Leduc were American, and German institutions played a big role in the 70s boom. Why do you think there has always been such a push to "Canadianize" the industry? It is because St. James Street and then Bay Street missed out on the action and went whining back to the government. Sure Canadian banks have earned lots of O&G development, but their role is much smaller than it is in other industries in Canada. I would also suspect their roles to be diminishing as evidenced by the huge growth in foreign investment banks (ex. SocGen, Goldman, Macquarie) setting up offices in Calgary.


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