Canadian Office Space Market - Page 5

Doug · #81 Posted **Sep 24, 2011, 2:23 PM**

Quote:

Originally Posted by caltrane74

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.

You do realize the tech biz is volatile and impossible to predict? Nortel doubled its office space in the late 90s.

caltrane74 · #82 Posted **Sep 24, 2011, 2:31 PM**

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.

Doug · #83 Posted **Sep 27, 2011, 1:13 AM**

Calgary magnet for big players

Claudia Cattaneo, Financial Post; Western Business Columnist · 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).

Denscity · #84 Posted **Sep 27, 2011, 1:27 AM**

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).

caltrane74 · #85 Posted **Sep 27, 2011, 1:27 AM**

Quote:

Originally Posted by Doug

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).

.

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.

TallBob · #86 Posted **Sep 27, 2011, 4:27 AM**

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.

caltrane74 · #87 Posted **Sep 27, 2011, 2:41 PM**

Construction starting on new office tower in Toronto in November

Quote:

Construction on the Oxford Properties' owned property will actually start at the beginning of November when sidewalks on Harbour and Queens Quay will be closed for construction. Work is expected to be completed in October 2014. Word is RBC will be the main tenant of the project.

http://urbantoronto.ca/news/2011/09/...harbour-street

Doug · #88 Posted **Sep 27, 2011, 5:23 PM**

Quote:

Originally Posted by TallBob

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.

Probably more like companies in Calgary will grow faster and bump ones HQ'd elsewhere out of the ranking.

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

TallBob · #89 Posted **Sep 28, 2011, 4:01 AM**

DOUG: I'll buy that. Probably grow much faster than TO.

WhipperSnapper · #90 Posted **Sep 28, 2011, 7:13 PM**

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.

Doug · #91 Posted **Sep 28, 2011, 10:24 PM**

Quote:

Originally Posted by WhipperSnapper

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.

Population is only relevant to certain types of business. For example, a business that sells to consumers would likely wish to locate close to large population centers. For companies that sell to other businesses, they would likely want to locate close to the decisions makers for those businesses. Calgary's economy is very capital intensive meaning that the magnitude of the purchasing decisions being made is far higher than would be expected.

caltrane74 · #92 Posted **Sep 30, 2011, 6:35 PM**

Toronto Office Market is Booming!

Quote:

Originally Posted by Grump

Hi I found this article with the latest facts and figures of Toronto's office market from Cushman and Wakefield.

http://www.jacquespilondesign.com/Streetsmarts/links/C&W%20Special%20Research%20Report%20Toronto's%20Downtown%20Q2%202011.pdf

It goes over the reasons why the market is booming and compares it with other cities in Canada and the US on page 3. It shows how the gap is closing with Chicago but still has a long way to go to catch up with New York.

If you want make this into its own thread. (I dont have enough posts to do so) Thanks.

LeftCoaster · #93 Posted **Sep 30, 2011, 6:39 PM**

DT Toronto's office market is healthy, it isn't booming... and right now that is probably a good thing.

caltrane74 · #94 Posted **Sep 30, 2011, 6:45 PM**

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!

LeftCoaster · #95 Posted **Sep 30, 2011, 8:11 PM**

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.

caltrane74 · #96 Posted **Sep 30, 2011, 9:39 PM**

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.

ibz · #97 Posted **Oct 2, 2011, 10:12 PM**

Quote:

Originally Posted by caltrane74

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.

Calgary's vacancy rate is 6.8%, not over 10

caltrane74 · #98 Posted **Oct 2, 2011, 10:19 PM**

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.

freeweed · #99 Posted **Oct 5, 2011, 12:51 AM**

Calgary's vacancy rate is only 9% if you include empty parks and industrial tracts.

caltrane74 · #**100** Posted **Oct 5, 2011, 12:44 PM**

Quote:

Originally Posted by freeweed

Calgary's vacancy rate is only 9% if you include empty parks and industrial tracts.

You need to set up your own global real estate brokerage and services company. Obviously Cushman & Wakefield have no idea what they were talking about when they stated that number in their report.

Guy show'em how it's done! lol!