Quote:
Originally Posted by esquire
MNP to TNS, has there been any word yet on their old space at 201 Portage?
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Agricore and Global both pulled operations out of Winnipeg leaving sizable spaces in 201 Portage before the whole TNS thing happened. I also know TD pulled out their operations there with IG Financial currently in some of those spaces while their new offices are built outside of downtown.
I heard that one business which had space in 259 Portage (Paris Building) actually moved to 201 Portage when their lease came up as they were able to get more favorable terms.
Also keep in mind Goodlife Fitness currently has a floor is 201 Portage Ave and is likely leaving once their Winnipeg Square location is ready.
Commercial leasing is kept pretty quite in the general public view but the reality is 201 Portage has been struggling for some time to fill its space and TNS isn't making that any easier.
Simply put 201 Portage is going to need to start chasing the smaller fish, like the tenant that relocated from 259 Portage. That will end up pushing smaller buildings into tough spots. For example, I have heard the building on the corner of Portage and Donald net to MTS Centre is mostly vacant. I have also heard some buildings are renting what should be prime downtown office spaces out to non-profits for significantly below market rates just to have some income rather than having spaces sitting empty.
I would guess buildings off Portage or Broadway and those with limited accessing to parking and ones that haven't keep up to date with modern accommodations are going to be at risk of being boarded up are essentially abandoned.
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Speaking of boarded up buildings downtown, anyone know what is happening at the St Regis? Saw some large commercial refuse bins on the southeast corner of the building, a port-a-potty and what looked like a trade truck at the site. Seems to all point to something happening on the site but it was tied up in the whole SkyCity mess last I heard.