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[dmacc]

I wonder the progress they've made on the apartments, sure seems like a number of lights are on first thing in the morning on the south side.

[Wpg_Guy]

Originally Posted by dmacc

I wonder the progress they've made on the apartments, sure seems like a number of lights are on first thing in the morning on the south side.

The apartments are done they came to market late June early July lots of residents in there now.

[trueviking]

just over 50 apartments are rented.

[bomberjet]

Seems skip would be on floors 5-9 in 242 Hargarve. Approx. 100,000 sq ft.

Or floors 4-8. Floors 4 and 9 are the half floors.

[trueviking]

good news is TNS is now full, so we won't see any other big companies moving and having impact on other areas of downtown. Wawanesa leaving Broadway and SKIP leaving the Exchange will both create challenges elsewhere.

[bomberjet]

I find it interesting/funny looking at the floor plans. They used hard imperial to metric conversions. 9144mm spacing between columns. That's 30'.

Just because or is there a reason for material supply?

[Wpg_Guy]

Originally Posted by trueviking

good news is this will be the last group moving to TNS that could make transformational impact in other areas of downtown. Wawanesa leaving Broadway and SKIP leaving the Exchange will both create challenges elsewhere.

You say challenges I see new opportunities for these area.

[optimusREIM]

Originally Posted by trueviking

just over 50 apartments are rented.

how many units total? Not quite a hundred or so?

[bomberjet]

Somewhere around 200. Looks like 11 units per floor. Penthouse level having less units. Residences are floors 7 to 24 I believe.

[esquire]

Originally Posted by trueviking

good news is this will be the last group moving to TNS that could make transformational impact in other areas of downtown. Wawanesa leaving Broadway and SKIP leaving the Exchange will both create challenges elsewhere.

There is a bit of a domino effect...

TDS to TNS, Taylor McCaffrey to TDS' old space, that leaves Taylor McCaffrey's old space at 400 St. Mary Ave. vacant. Nice relatively modern building that has had trouble filling space in recent years.

MNP to TNS, has there been any word yet on their old space at 201 Portage?

Scotiabank to TNS, their space at Winnipeg Square is now being redeveloped but no announcements re: tenants?

Skip the Dishes to TNS, are they vacating mainly 423 Main Street? If so, that's a large chunk of space that will hit the market.

Ceridian to TNS, that leaves some space open at the Western Canada Lotteries Building.

So TNS has basically resulted in significant vacancies directly or indirectly at 201 Portage, 400 St. Mary Ave., Winnipeg Square, 423 Main and the Western Canada Lotteries Buildings. Basically all 80s/early 90s buildings except for 423 Main which is older. It will be interesting to see how those spaces get filled.

[Wpg_Guy]

Originally Posted by optimusREIM

how many units total? Not quite a hundred or so?

There are 194 units.

[optimusREIM]

Originally Posted by Wpg_Guy

There are 194 units.

More units per floor than I expected then haha

[buzzg]

Skip is currently on 2 floors of 423 Main, so it’s not that big of an impact there overall. They have 3 floors out of eight at 138 Market - also not overly bad. But they own and use 95% of 140 Bannatyne... that will be very interesting to see what happens with it. Them moving out would leave just Indigo on half of the second floor. Even the article said three, they actually have four buildings - they also have the lease on the entire building at 214 McDermot. Currently only using half the top floor, they've been trying to sublease the rest for most a year now with no luck. Top two floors are beautiful, bottom two are... Not.

I’m not overly concerned with the space that will be vacated (there is still soooo much empty space in the Exchange above ground level), but I am certainly concerned what 2,500 less workers in the Exchange will mean for some businesses. Especially since most in the Exchange are local, vs mostly chain in and around TNS.

[borkborkbork]

do you think the glut of class B/C space downtown created by TNS will start to pull some businesses currently in suburban office parks downtown by making downtown office space more affordable relative to the suburbs?

or do are those businesses largely located where they are because the staff prefer to be in the burbs/dont want to deal with parking/etc?

[The Jabroni]

Originally Posted by borkborkbork

do you think the glut of class B/C space downtown created by TNS will start to pull some businesses currently in suburban office parks downtown by making downtown office space more affordable relative to the suburbs?

or do are those businesses largely located where they are because the staff prefer to be in the burbs/dont want to deal with parking/etc?

One can only hope.

If each of the respective landlords in each of those downtown properties can make it attractive to the suburban based companies located at industrial parks around the city, then by all means.

But since Winnipeg has a significant economy based on transportation, warehouse space is essential to those businesses. Throw in CentrePort into the mix, and you have competition to attract various companies tailored to their needs.

[Winnipegger]

Originally Posted by borkborkbork

do you think the glut of class B/C space downtown created by TNS will start to pull some businesses currently in suburban office parks downtown by making downtown office space more affordable relative to the suburbs?

or do are those businesses largely located where they are because the staff prefer to be in the burbs/dont want to deal with parking/etc?

It should also be noted that out of major Canadian cities, Winnipeg has the highest percentage of it's office space located in the downtown area. The whole "all our offices are going to the suburbs!" narrative doesn't jive with the data - check out office space statistics by CBRE for the data. The city produces a graph on this data on page 2-12 of this document.

[bomberjet]

I know we talked about this recently. Winnipeg seems to have a higher number of businesses who locate their offices in the warehouse or manufacturing facility. Where as other cities will get office space somewhere else, such as downtown. I have no numbers on that, just something at was discussed.

[oftheMoon]

The street presence Skip employees brought to the East Exchange will be missed. While it was not hundreds of people on the street at any given time, there were always bodies moving from one place to another at all times. This 'vibrancy' will be hard to replace.

[plrh]

Originally Posted by oftheMoon

The street presence Skip employees brought to the East Exchange will be missed. While it was not hundreds of people on the street at any given time, there were always bodies moving from one place to another at all times. This 'vibrancy' will be hard to replace.

That's funny, I thought they would just get their food delivered right to their offices.

[Wolf13]

Originally Posted by Winnipegger

It should also be noted that out of major Canadian cities, Winnipeg has the highest percentage of it's office space located in the downtown area. The whole "all our offices are going to the suburbs!" narrative doesn't jive with the data - check out office space statistics by CBRE for the data. The city produces a graph on this data on page 2-12 of this document.

This stat is not untrue (well, I have no basis to challenge it, but I believe it also), but it deals with a percentage.

Relative to the size of our city and the size of our downtown, we don't consume that much office space. It makes sense that in a city of only so few towers, that all those towers take the greatest chunk, obviously at portage and main and surrounding area.

Other cities may have comparable office vacancy, but also a much larger office building market. Until now, there has been little desire for growing companies to come to downtown. It's been steady and/or stagnant for a long time.

While TNS is essentially eating its own market, they at least are the newest and charge the most. That should indicate a medium term desire for downtown office space, as ultimately companies are upgrading into another downtown location, likely encouraging other companies to eventually upgrade into downtown... hopefully in those vacated spaces.