Toronto The HUB | 258.46m | 59s | Oxford Properties | Rogers Stirk Harbour

Dreambig1 said:
oh god, watch the flood of hate come now. lol
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Maybe I'll get a courtesy call from Homeland Security. 🆘 I'll sing the praises of this democratic meeting place known as UrbanToronto. 🤕
 
ChesterCopperpot said:
It's 3D's *thing* - he does silly little photoshops from time to time
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It's fun, however, in reality I still hope for one of the following: a BMO, Bell, National Bank Financial, Manulife, or Desjardins tenancy and logo, whether any of these firms become the major tenant or get there signange put up on the Hub is a whole other thing. But I can keep dreaming and wishing.
 
rdaner said:
^Is Rogers in a position to consolidate?
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Not sure, but they do have several offices across the GTA, which could or maybe should be considered to be rolled into one large building. I don't see the efficiency of any company having multiple locations within a single area. In this case i am referring to the GTA. I know there is a campus in Brampton, there is an office complex near the 401/404/DVP interhcnage and then there's a smaller office across the street from their main offices near Bloor St. Not sure if there are any other locations. The NATO bank would be good as well.
 
I remember taking note of the pattern that started when the large accounting firms and banks started popping up large office towers in the downtown core. It was basically one accounting firm would pop up, followed by another, then another, then another, until all the major ones had a large visible presence in the downtown core. The second pattern or trend I noticed was the large banks at least doubling their office tower presence. The only one that seems to defy this at this point is BMO. In the last 15 or so years, every major bank has or has at least 2 or more major towers built. When Sunlife got their tower i was hoping for a trend with the other major insurance companies popping up towers, but that never seemed to happen. Same with Telus after Telus tower went up i was hoping maybe Bell and Rogers would follow suit, I still hope one day to see the major insurance and telecom companies erect towers with their names on it downtown. And I hope the Hub is one of those towers.
 
rdaner said:
^Is Rogers in a position to consolidate? Also might be a good fit for the NATO defence bank if Toronto gets it.
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Rogers (and the other telcos) wouldn't consolidate into trophy space like this - they maintain expensive downtown offices for execs and show, but won't pay for that for the rest of their workforce.

Their real estate model relies on having multiple satellite offices.

Dreambig1 said:
Not sure, but they do have several offices across the GTA, which could or maybe should be considered to be rolled into one large building. I don't see the efficiency of any company having multiple locations within a single area. In this case i am referring to the GTA. I know there is a campus in Brampton, there is an office complex near the 401/404/DVP interhcnage and then there's a smaller office across the street from their main offices near Bloor St. Not sure if there are any other locations. The NATO bank would be good as well.
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The efficiency is that they're paying north of ~$60 PSF for that Class AAA space downtown versus paying >$20 PSF in satellite markets. The cost savings are immense, not for nothing the convenience offered in having a multi-site network of offices for employees to work from. It works for the likes of Rogers, Bell, and Telus because they are culturally similar organizations with little competition for talent. The banks have to attract talent from all walks of finance, including American firms who can pay top dollar for space, so they're more motivated to spend on expensive financial core real estate.
 
Vanalla said:
Rogers (and the other telcos) wouldn't consolidate into trophy space like this - they maintain expensive downtown offices for execs and show, but won't pay for that for the rest of their workforce.

Their real estate model relies on having multiple satellite offices.


The efficiency is that they're paying north of ~$60 PSF for that Class AAA space downtown versus paying >$20 PSF in satellite markets. The cost savings are immense, not for nothing the convenience offered in having a multi-site network of offices for employees to work from. It works for the likes of Rogers, Bell, and Telus because they are culturally similar organizations with little competition for talent. The banks have to attract talent from all walks of finance, including American firms who can pay top dollar for space, so they're more motivated to spend on expensive financial core real estate.
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very in formitive and I understand your point about costs for space downtown vs elsewhere. What are your thoughts on the idea of the other firms I mentioned, a 2nd BMO Manulife, Desjardins Group?
 
I believe it's been mentioned here that the HUB has some leases already secured, but not an anchor tenant. Does anyone know who the leases are, and if they are able to share that information?
 
Dreambig1 said:
very in formitive and I understand your point about costs for space downtown vs elsewhere. What are your thoughts on the idea of the other firms I mentioned, a 2nd BMO Manulife, Desjardins Group?
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BMO could be a good thought but I'm not familiar with their CRE strategy or financials as of late so can't speak to them. Manulife from what I can tell is consolidating around their campus at Bloor/Yonge. Desjardins is interesting, as they're currently in Telus Tower, but from what I understand they prefer to keep their footprint mostly in Montreal. They'd have to capture large market share to expand significantly in Toronto.

A potential dark horse here could be Chinese firms seeking to expand under new trade agreements we're negotiating, or other global firms unhappy with American instability that want to capitalize on cheap Canadian labour. I doubt either of those options are looking for trophy space in anchor quantities though.

Again, this is all wild speculation and I am not a part of any of these tenant teams who would make moves like this, nor do I know actual details about their real estate strategies.
 
I am not going to identify exactly who is talking to whom about what.

I will say, international banks and fintechs are in play, as are mainline tech firms, and yes, domestic banks too.

There's enough interest to easily fill The Hub, but it's a big commitment, years out, and everyone (including Oxford) wants the best deal they can get. We'll see how it all comes together in due course.
 
Vanalla said:
Rogers (and the other telcos) wouldn't consolidate into trophy space like this - they maintain expensive downtown offices for execs and show, but won't pay for that for the rest of their workforce.

Their real estate model relies on having multiple satellite offices.
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Plus in the case of Rogers, they own 1 Mt Pleasant. There's basically no chance they decide to replace a building they own with renting one from Oxford.
 
Northern Light said:
I am not going to identify exactly who is talking to whom about what.

I will say, international banks and fintechs are in play, as are mainline tech firms, and yes, domestic banks too.

There's enough interest to easily fill The Hub, but it's a big commitment, years out, and everyone (including Oxford) wants the best deal they can get. We'll see how it all comes together in due course.
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Manulife consolidating from around the city into a new tower and then having their beautiful building on Bloor converted into an upscale hotel, like a Woldorf Astoria or a Plaza Hotel type, would be a great fit not only for that building but for "Mink Mile" Bloor St., which has very nice hotels in the area as it is.
 
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