Quote:
Originally Posted by WhipperSnapper
Toronto is building condos with larger floor plates than MNP. It's far from an efficient plate either. Developers are coping but, at the same time, the restrictive zoning must be hampering efforts in attracting tenants with requirements beyond boutique buildingsl.
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The MNP floorplate is a response to the Vancouver market. It has actually been very successful and I would expect to see more buildings mimic it.
The tower would never work in Toronto or Calgary but in Vancouver it is a thoughtfully tailored offering to the needs of the tenants. There are a number of smaller mining companies who have the image need for a whole floor but not the demand for 15,000-25,000sf of space. This suits their needs perfectly.
Look at the most efficent floorplate building in Vancouver, the Nordstrom building, with 60,000SF floor plates, two light wells and prime downtown location. In Toronto this building would be a hot commodity for trading floors etc... but in Vancouver their size is actually a detriment.
It's a weird market.