Toronto 1303 Yonge | 43.3m | 10s | Aspen Ridge | BDP Quadrangle

Whoever ends up picking up this site should shoot for something in the 20+ storey range, which is the precedent set by the apartment tower at 7 Jackes Ave. Those south facing views are going to be some of the best in the city.
 
Yeah it's still their HQ, I wonder where they plan to move, assuming they will still exist in the future :)

I'm sure this is an attempt to raise funds anyway possible.
 
taal said:
Yeah it's still their HQ, I wonder where they plan to move, assuming they will still exist in the future :)

I'm sure this is an attempt to raise funds anyway possible.
Click to expand...

Ideally, they should lease space directly over one of their cinemas.

It's a really good idea for anyone in retail to keep management close to an actual 'store' or in this case 'cinema' so they can see how ideas work out in practice.

One of the biggest problems in retailing is when management becomes disconnected from the on-the-ground/in-store experience.

They only come by for pre-arranged visits which rarely represent reality.

When you have that footprint right by the office, you can literally walk in/out at random and see how ideas/products etc are working out.

****

Though, I have to add here............a certain supermarket executive likes to wander by his local store (local to where he lives); he does not experience reality in that store.

The staff genuinely dislike this person.

When he randomly walks in, instantly everyone's duties change to accommodate his whim.

Can't say more than that publicly.......

Just that it defeats the point if you do that.
 
Northern Light said:
Though, I have to add here............a certain supermarket executive likes to wander by his local store (local to where he lives); he does not experience reality in that store.

The staff genuinely dislike this person.

When he randomly walks in, instantly everyone's duties change to accommodate his whim.
Click to expand...

Sounds very like the executive of a certain bookstore chain I once worked at.
 
Northern Light said:
Ideally, they should lease space directly over one of their cinemas.

It's a really good idea for anyone in retail to keep management close to an actual 'store' or in this case 'cinema' so they can see how ideas work out in practice.

One of the biggest problems in retailing is when management becomes disconnected from the on-the-ground/in-store experience.

They only come by for pre-arranged visits which rarely represent reality.

When you have that footprint right by the office, you can literally walk in/out at random and see how ideas/products etc are working out.

****

Though, I have to add here............a certain supermarket executive likes to wander by his local store (local to where he lives); he does not experience reality in that store.

The staff genuinely dislike this person.

When he randomly walks in, instantly everyone's duties change to accommodate his whim.

Can't say more than that publicly.......

Just that it defeats the point if you do that.
Click to expand...
Now imagine if there were a Canadian Tire retail location at Yonge at Eglinton very close to HQ.
 
The listing notes it is a sale-leaseback. So clearly Cineplex is not in a hurry to leave. But definitely get some much-needed money.
 
Current condition of the site:

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Cineplex sells Toronto head office, aims to pay debt amid COVID-19 challenges

December 22, 2020

Cineplex Inc. says it is selling its head office building in Toronto for $57 million as it looks for cash to pay down its credit facilities.

The theatre chain says it will continue to lease back its Toronto office for up to a decade, but plans to consolidate its office space in the city.

Cineplex has been hit hard by the COVID-19 pandemic, and said last month that 91 per cent fewer moviegoers came to theatres this summer compared to summer 2019.

Chief executive Ellis Jacob says he has high hopes for next year's movie slate, predicting that there will be pent-up demand for social activities after the rollout of the COVID-19 vaccine.

Jacob says the $57 million gross proceeds from the sale of Toronto head office, combined with a recent agreement from Scotiabank, will provide $117 million to tide Cineplex over.

The company says that once the sale of the building closes in January, about half of the proceeds from both deals will go toward paying down existing credit facilities.

“We are confident in our response to COVID-19 and the actions we have taken to stabilize our financial position,” Jacob said in a statement.

ca.finance.yahoo.com

Cineplex sells Toronto head office, aims to pay debt amid COVID-19 challenges

TORONTO — Cineplex Inc. says it is selling its head office building in Toronto for $57 million as it looks for cash to pay down its credit facilities. The theatre chain says it will continue to lease back its Toronto office for up to a decade, but plans to consolidate its office space in the...
ca.finance.yahoo.com ca.finance.yahoo.com
 
Interesting pickup, although it does come together since Aspen Ridge completed the Jack Condos project just north of here on Yonge. Wonder if it'll be Quadrangle again to form a relation to Jack. It's pretty open ended right now since they use a variety of architects.
 
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