Canadian Office Space Market

[Spring2008]

Originally Posted by Chinook Arch

The figure of 17 Million for the burbs includes 6.5 million from the Beltline. so the total would actually be around 11 million for the burbs.

17 million sq feet in the burbs, without counting the Beltline. The number has been steadily increasing. See below for example(again this is without the Bow). Page 3...

http://www.barclaystreet.com/library...ary_office.pdf

[whiteford]

^^^bravo! now thats the way to post the facts. no bs just real numbers. thanks

[SFUVancouver]

Telus has also been successful in nailing down a first tenant for the office component of the Telus Gardens project. The law firm of Bull, Housser and Tupper has committed as a tenant. That means 70 per cent of the office space, which will include Telus’s head office, is now leased.

Ms. Goertz said the company is negotiating with several other interested tenants and will be releasing details about those leases shortly.

http://www.theglobeandmail.com/news/...rticle2388764/


Photographer: BuiltForm
Source: http://forum.skyscraperpage.com/show...&postcount=690


Photographer: BuiltForm
Source: http://forum.skyscraperpage.com/show...&postcount=690

The 428 unit, 53-storey/135 metre condo tower sold out in a day, too. Demolition and site prep is currently under way.

[Innsertnamehere]

wait, didn't telus just build a new head office in Toronto?

[Coldrsx]

No. Their HQ is moving from Burnaby to downtown.

[Andrewjm3D]

Originally Posted by SFUVancouver

http://www.theglobeandmail.com/news/...rticle2388764/


Photographer: BuiltForm
Source: http://forum.skyscraperpage.com/show...&postcount=690


Photographer: BuiltForm
Source: http://forum.skyscraperpage.com/show...&postcount=690

The 428 unit, 53-storey/135 metre condo tower sold out in a day, too. Demolition and site prep is currently under way.

The residential component, and the lower office sections are great. I love the section with the "V" support beams running through the Telus building. I can't say I'm a fan of the Telus roof though. It looks a little messy. It may work better in person when completed but on the model it looks cheap.

[SFUVancouver]

^ The roof is a giant photovoltaic solar power array. The project is LEED Gold (and possibly Platinum).

[caltrane74]

Originally Posted by Innsertnamehere

wait, didn't telus just build a new head office in Toronto?

Telus just has naming rights on the tower, its not their head office.

Actually its the head office of Kinross Gold.

[taal]

Originally Posted by caltrane74

Telus just has naming rights on the tower, its not their head office.

Actually its the head office of Kinross Gold.

The term 'head office' really doesn't mean much now a days.

While its not the official head office they relocated many employees to this location and occupy a significant portion of the building.

So a lot of the GTA based employment is located here now. I think the Toronto location will be larger (employment # wise) then the new Vancouver headquarters, but that's only because Telus will still retain many other sites in the Vancouver area ... there is of course more employment out west.

[Surrealplaces]

17Million is a good size number for burbs only. Calgary must be the top or rank up near the top when it comes to square feet of office space per person.

With 50 odd million square feet of office space, there is roughly 50 square feet for every person in the city.

Originally Posted by Spring2008

17 million sq feet in the burbs, without counting the Beltline. The number has been steadily increasing. See below for example(again this is without the Bow). Page 3...

http://www.barclaystreet.com/library...ary_office.pdf

[WhipperSnapper]

What is needed is for a Toronto development proposal and a Vancouver development proposal to have a baby as one city's vernacular is a bit too minimalistic while the other tries a bit too hard.

[LeftCoaster]

Haha that's actually quite true. Vancouver could use some Toronto design and vice-versa.

[Vaillant]

Originally Posted by SFUVancouver

http://www.theglobeandmail.com/news/...rticle2388764/


Photographer: BuiltForm
Source: http://forum.skyscraperpage.com/show...&postcount=690


Photographer: BuiltForm
Source: http://forum.skyscraperpage.com/show...&postcount=690

The 428 unit, 53-storey/135 metre condo tower sold out in a day, too. Demolition and site prep is currently under way.

this is quite beautiful project, congrats to Vancouver

[Surrealplaces]

From the Calgary construction thread

Originally Posted by Bigtime

Calgary City Centre development moving forward
36-storey office skyscraper planned

CALGARY — Phase 1 of the Calgary City Centre development site in the downtown is moving forward with a planned 36-storey office skyscraper.

Cadillac Fairview Corporation Limited said the first phase of the downtown project will include the tower comprising 853,032 square feet with a retail podium, and five levels of underground parking with 632 stalls.

The building will be complete for the first tenant occupancy by March 2016.

The Phase 1 office tower is part of a larger mixed-use development which incorporates office, retail, a five-star hotel and luxury condominium residences.

-------------------------------------------------------------------------

Phase 1 highlights include: the second floor of the office tower will be connected to the Plus-15 walkway system via three bridge connections across 2nd (to Livingston Place) and 3rd Streets S.W. (to the Devon Tower) and 3rd Avenue S.W. (to Jamieson Place); an expansive two-storey office lobby will run along 2nd Street S.W. with a landscaped courtyard extending from the lobby to 3rd Street; the typical floor plate size is 26,782 square feet, providing for efficient office areas and the potential for eight corner offices per floor; and five levels of underground parking with 632 stalls will be available, including bicycle lockers and showers located at grade and on level P1.

The office tower has been designed by Zeidler BKDI Architects and the prime contractor is PCL Constructors Inc.

Construction is scheduled to begin in May.

Read more: http://www.calgaryherald.com/Calgary...#ixzz1r4u6pWOQ

[ssiguy]

The Telus complex is very handsome.

[caltrane74]

Downtown office space selling for premium in Toronto

TORONTO, Ont. - It's not just the residential real-estate market that's having a good year around the Greater Toronto Area, with office space selling and renting at premium prices.

With the condo boom taking up precious downtown space, the demand for office space in the downtown core is growing rapidly.

As more people choose downtown living, businesses are taking advantage of the profits of setting up shop within close proximity.

The latest Colliers International office-market report shows vacancy rates down and lease prices up.

"Toronto is an anomaly in North America in its resiliency through the downturn, and its ability to recover and rebuild," said John Arnoldi, Managing Director of the Toronto Region of Colliers International.

Read here:

http://www.680news.com/business/arti...ium-in-toronto

[davidivivid]

Article published in french business weekly Les Affaires which states that Montreal's downtown office vacancy rate is down to 5,4% and is expected to be around 5% very soon. This news bodes well for new office building construction in Montreal in the near future!!

Montréal a besoin de nouvelles tours à bureaux

Le taux d'inoccupation des espaces à bureaux a de nouveau diminué au centre-ville de Montréal, au point où la construction de nouvelles tours à bureaux est devenue une nécessité.

Si les projets de condominiums sont nombreux à Montréal, la situation est fort différente pour les tours à bureaux.

Dans son rapport de marché du printemps, le courtier immobilier Colliers International affirme que si les projets de condominiums sont nombreux à Montréal, la situation est fort différente pour les tours à bureaux.

À la fin du premier trimestre, le taux d'inoccupation des espaces à bureaux au centre-ville s'est situé à 5,4% et si la tendance se maintient, il devrait bientôt atteindre 5%.

«À ce stade, l'érection de nouvelles tours sera nécessaire pour accommoder l'absorption, sur¬tout lorsqu'on considère que les espaces de catégorie AAA les plus récents au centre-ville ont déjà vingt ans», souligne Colliers.

Deux édifices en construction, soit l'Altoria et l'îlot 10 de Griffintown, offriront de grandes superficies de bureaux, mais aucun ne sera terminé avant 2013. Or, la tendance actuelle au centre-ville semble indiquer que dès qu'une superficie importante est mise sur le marché, elle est aussitôt louée.

[...]

http://argent.canoe.ca/lca/affaires/...s-bureaux.html

[caltrane74]

http://www.newswire.ca/en/story/9583...nancial-centre


TORONTO, April 19, 2012 /CNW/ - British Columbia Investment Management Corporation (bcIMC) announced today that approximately one-third of the office space at Bremner Tower, Southcore Financial Centre (SFC), has been leased to professional services firm Marsh & McLennan Companies.

Marsh & McLennan Companies is a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. The company's wholly owned subsidiaries—Marsh, Guy Carpenter, Mercer and Oliver Wyman—will relocate their Toronto operations to Bremner Tower in May 2015.

Encompassing a full block from York Street to Lower Simcoe Street, SFC is a mixed-use complex under development in Toronto's southcore financial district. When complete, the complex will offer 1.4 million square feet of office space in two towers and a premium 45-storey hotel, the Delta Toronto. Bremner Tower, the second phase of the SFC complex, is a 30-storey, 700,000 square foot tower. The first phase of the complex, PwC Tower, a 26-storey, 680,000 square foot tower, was completed in 2011 and is now fully leased.

[suburbia]

Originally Posted by taal

I think the Toronto location will be larger (employment # wise) then the new Vancouver headquarters, but that's only because Telus will still retain many other sites in the Vancouver area ... there is of course more employment out west.

Don't know if that is true, but don't forget they have towers in Calgary and Edmonton also.

Originally Posted by Surrealplaces

With 50 odd million square feet of office space, there is roughly 50 square feet for every person in the city.

Yeah - by normalizing for population, Calgary is on a league of its own.

[caltrane74]

I think this thread needs a better name?

Great Canadian Office Development and Leasing thread??

Or does the first page article prevent that?