taal
Senior Member
Your 2 cents consists of the projects we've heard the most about over the lats year
Not really a prediction .. just sayin.Pick the first 2 or 3 to go up if you want to have real fun.
Toronto Bay Adelaide Centre | 217.92m | 51s | Brookfield | KPMB
- Thread starter yyzer
- Start date
Your 2 cents consists of the projects we've heard the most about over the lats year
Not really a prediction .. just sayin.Pick the first 2 or 3 to go up if you want to have real fun.
Automation Gallery
Superstar
gristle
Senior Member
Now all you need to do is to acquire the land, retain an architect, develop the building and lease the space.
taal
Senior Member
Well, i think the first two are a shoo-in to get built.
I hope, but negative spin on the first two (I'm referring to the 'they'll get build now'):
1) We've heard rumor after rumor regarding this, wasn't there suppose to be an announcement about this this month, or was that March.
2) I think they're behind there schedule i.e. they planed to have an anchor tenant secured by now and there's no sign that it's happened yet.
Time will tell.
canarob
Senior Member
Lots of companies looking for space in the next little while.
Canada’s predictability a hit with foreign companies
TAVIA GRANT
From Thursday's Globe and Mail
Published Wednesday, Feb. 16, 2011 7:04PM EST
Last updated Wednesday, Feb. 16, 2011 7:31PM ES
When Bangalore-based technology giant Wipro Ltd. (WIT-N13.000.040.31%) was laying out its global growth plans, the stability of Canada’s economy stood out in a sea of turmoil.
That predictability is largely why India’s third-largest software services provider decided to open a Canadian headquarters, with initial plans to hire at least 100 people in computer science, analytics and software development.
The company officially opened its doors on Wednesday in Mississauga, becoming the latest in a string of foreign companies to bolster its presence in Canada.
As debate rages over foreign bids involving Canadian companies – from Potash Corp. of Saskatchewan Inc. to the Toronto Stock Exchange – Wipro’s expansion reflects a quieter trend. Foreign direct investment in Canada – a measure of lasting investment – has ballooned 42 per cent over the past five years, according to Statistics Canada. And that growth spans sectors – from Barclays Capital in finance, to Google Inc. in tech, to Target Corp. in retail.
Long overlooked on the world stage, many companies are singling out Canada as the financial crisis subsides, drawn by the appeal of a stable economy, a diverse, well-educated population and a solid financial system that’s underpinned with commodities that the world wants.
“It’s very stable, and growing. It produces oil, which helps today in terms of having solid growth,†said Azim Premji, Wipro’s chairman, in an exclusive interview with The Globe and Mail at the company’s new office. Sales in Canada more than doubled in the past year, even before the company ramped up plans.
“We’re taking it seriously now,†Mr. Premji said.
In an unstable post-recession world, Canada’s very boringness – its predictability – is now viewed as a prize asset.
The attraction is clearly reflected in the number of foreign takeover offers in recent months, particularly in the mining and energy sectors. But takeovers aside, many firms just want to build their reach in Canada.
Google Inc. told The Globe and Mail this week that the company boosted its Canadian work force by 50 per cent last year, to about 200 people, and that it expects at least the same increase this year. Global executive search firm DHR International is adding to its head count this year, and plans to open a Calgary office. Chinese telecom maker Huawei opened Canadian headquarters last month in Markham, Ont., and plans to add 280 more jobs in Canada over the next two years.
London-based Barclays Capital opened a new office in December and is bolstering its advisory business in mergers and acquisitions. California-headquartered LinkedIn launched a Canadian office last year.
The list goes on. For many companies, it’s part of a global expansion after companies retrenched during the recession. But Canada seems to be getting more than its fair share. Deloitte, for example, a global accounting firm, wants to boost its global payrolls to 225,000 from 170,000 in the next five years. In Canada, though, it’s aiming for much larger percentage growth – adding 5,000 new people to its head count from 8,000 currently, according to Su Grant, senior manager of recruitment strategy.
Growing interest in Canada from U.S. firms is showing up in help-wanted ads. Workopolis, Canada’s largest online job board, says the number of billings from U.S. companies that advertised on its site rose 27 per cent last year from 2009.
Economists and currency strategists, too, are taking a closer look at Canada as investors become more interested. Tokyo-based Nomura Securities, for example, began covering Canada last spring. It cites Canada’s relatively strong fiscal position and diverse commodities base as reasons for its increased scrutiny.
With files from reporters Iain Marlow and Omar El Akkad.
Canada’s predictability a hit with foreign companies
TAVIA GRANT
From Thursday's Globe and Mail
Published Wednesday, Feb. 16, 2011 7:04PM EST
Last updated Wednesday, Feb. 16, 2011 7:31PM ES
When Bangalore-based technology giant Wipro Ltd. (WIT-N13.000.040.31%) was laying out its global growth plans, the stability of Canada’s economy stood out in a sea of turmoil.
That predictability is largely why India’s third-largest software services provider decided to open a Canadian headquarters, with initial plans to hire at least 100 people in computer science, analytics and software development.
The company officially opened its doors on Wednesday in Mississauga, becoming the latest in a string of foreign companies to bolster its presence in Canada.
As debate rages over foreign bids involving Canadian companies – from Potash Corp. of Saskatchewan Inc. to the Toronto Stock Exchange – Wipro’s expansion reflects a quieter trend. Foreign direct investment in Canada – a measure of lasting investment – has ballooned 42 per cent over the past five years, according to Statistics Canada. And that growth spans sectors – from Barclays Capital in finance, to Google Inc. in tech, to Target Corp. in retail.
Long overlooked on the world stage, many companies are singling out Canada as the financial crisis subsides, drawn by the appeal of a stable economy, a diverse, well-educated population and a solid financial system that’s underpinned with commodities that the world wants.
“It’s very stable, and growing. It produces oil, which helps today in terms of having solid growth,†said Azim Premji, Wipro’s chairman, in an exclusive interview with The Globe and Mail at the company’s new office. Sales in Canada more than doubled in the past year, even before the company ramped up plans.
“We’re taking it seriously now,†Mr. Premji said.
In an unstable post-recession world, Canada’s very boringness – its predictability – is now viewed as a prize asset.
The attraction is clearly reflected in the number of foreign takeover offers in recent months, particularly in the mining and energy sectors. But takeovers aside, many firms just want to build their reach in Canada.
Google Inc. told The Globe and Mail this week that the company boosted its Canadian work force by 50 per cent last year, to about 200 people, and that it expects at least the same increase this year. Global executive search firm DHR International is adding to its head count this year, and plans to open a Calgary office. Chinese telecom maker Huawei opened Canadian headquarters last month in Markham, Ont., and plans to add 280 more jobs in Canada over the next two years.
London-based Barclays Capital opened a new office in December and is bolstering its advisory business in mergers and acquisitions. California-headquartered LinkedIn launched a Canadian office last year.
The list goes on. For many companies, it’s part of a global expansion after companies retrenched during the recession. But Canada seems to be getting more than its fair share. Deloitte, for example, a global accounting firm, wants to boost its global payrolls to 225,000 from 170,000 in the next five years. In Canada, though, it’s aiming for much larger percentage growth – adding 5,000 new people to its head count from 8,000 currently, according to Su Grant, senior manager of recruitment strategy.
Growing interest in Canada from U.S. firms is showing up in help-wanted ads. Workopolis, Canada’s largest online job board, says the number of billings from U.S. companies that advertised on its site rose 27 per cent last year from 2009.
Economists and currency strategists, too, are taking a closer look at Canada as investors become more interested. Tokyo-based Nomura Securities, for example, began covering Canada last spring. It cites Canada’s relatively strong fiscal position and diverse commodities base as reasons for its increased scrutiny.
With files from reporters Iain Marlow and Omar El Akkad.
Automation Gallery
Superstar
Yeah very positive and healthy market, Considering it takes 3-5 years to build them, it wont be long before we hear news about a couple more office towers going foward..
Greater Toronto Area investment market bounces back strongly in 2010 as buyers and sellers converge on pricing
Office
Office property transactions amounted to $710 million in the second half of the year, down from a strong first half which saw $992 million in sales - a drop of $282 million or 28%. Despite lower investment volumes, 2010 was a breakout year for the office sector with total sales reaching just over $1.7 billion. Downtown core office trades remained scarce. In 2010, seven office buildings sold for a total value of $456 million. This number of transactions is up from five in 2009, but down from 13 and 14 in 2007 and 2006, respectively.
http://www.newswire.ca/en/releases/archive/February2011/16/c3158.html
Greater Toronto Area investment market bounces back strongly in 2010 as buyers and sellers converge on pricing
Office
Office property transactions amounted to $710 million in the second half of the year, down from a strong first half which saw $992 million in sales - a drop of $282 million or 28%. Despite lower investment volumes, 2010 was a breakout year for the office sector with total sales reaching just over $1.7 billion. Downtown core office trades remained scarce. In 2010, seven office buildings sold for a total value of $456 million. This number of transactions is up from five in 2009, but down from 13 and 14 in 2007 and 2006, respectively.
http://www.newswire.ca/en/releases/archive/February2011/16/c3158.html
taal
Senior Member
Yeah very positive and healthy market, Considering it takes 3-5 years to build them, it wont be long before we hear news about a couple more office towers going foward..
Greater Toronto Area investment market bounces back strongly in 2010 as buyers and sellers converge on pricing
Office
Office property transactions amounted to $710 million in the second half of the year, down from a strong first half which saw $992 million in sales - a drop of $282 million or 28%. Despite lower investment volumes, 2010 was a breakout year for the office sector with total sales reaching just over $1.7 billion. Downtown core office trades remained scarce. In 2010, seven office buildings sold for a total value of $456 million. This number of transactions is up from five in 2009, but down from 13 and 14 in 2007 and 2006, respectively.
http://www.newswire.ca/en/releases/archive/February2011/16/c3158.html
Not to down play things but; You need to be careful when you read such articles that refer to the entire GTA (unless that's what you were doing). I'm not saying this is the case now, or anything specific about the article above but recall say 6-10 years ago Toronto had just about no construction on the office front, this was when the 'everyone is moving to the suburbs - from a commercial tenant point of view' attitude was in full swing i.e. not a great time - yet, most articles about Toronto (aka the GTA) were extremely positive saying how we were seeing unprecedented growth even when Toronto was seeing just about 0 to negative growth. Anyway, my point is - in Toronto (due to tax imbalances and a bunch of other reasons) Toronto != GTA - in the sense that if the GTA is doing well does not mean Toronto is doing well.
Clearly Toronto is a big part, so Toronto can't be doing terrible and rest great and a conclusion reached that the GTA was growing extremely quickly. No, it was more along the lines of the 416 was stagnant and the rest of the GTA was growing extremely quickly (referring to offices again here) - so in such an environment, Toronto (aka the GTA) is performing 'well'.
The point is, 99% of articles that refer to 'Toronto's' market outlook / performance (even by local companies) always refer to the entire GTA, not just the city.
Last edited:
yyzer
Senior Member
article from today's Globe & Mail.....nothing specific about locations, but contains the following quote:
rest of the article here....
http://www.theglobeandmail.com/news/national/toronto/marcus-gee/the-manhattanization-of-downtown-toronto/article1981037/
rest of the article here....
http://www.theglobeandmail.com/news/national/toronto/marcus-gee/the-manhattanization-of-downtown-toronto/article1981037/
yyzer
Senior Member
Yet Another positive article in the Globe!! couple of quotes....
http://www.theglobeandmail.com/news/national/toronto/vacancy-rate-down-as-office-real-estate-recovers-from-recession/article1981900/
Wonder which one will be the first to announce?
http://www.theglobeandmail.com/news/national/toronto/vacancy-rate-down-as-office-real-estate-recovers-from-recession/article1981900/
Wonder which one will be the first to announce?
maestro
Senior Member
The time to get excited is when you start seeing RFPs for large blocks of space and the exisitng inventory has few continuous blocks available.
Take a look at just FCP,
http://www.brookfieldofficeproperties.com/content/first_canadian_place/availabilities-5576.html
This availablity hasn't been seen since the dark days of the early nineties. I wouldn't get my hopes up.
Take a look at just FCP,
http://www.brookfieldofficeproperties.com/content/first_canadian_place/availabilities-5576.html
This availablity hasn't been seen since the dark days of the early nineties. I wouldn't get my hopes up.
taal
Senior Member
ha ... you probably know I'd be the one to agree with you but that's a bad example
FCP has always had a high ammount of avaible space, even in 2006/7 at the height of the boom, it had around 200K, now it's around 350K. btw this sounds huge but % wise it isn't, still high but it's just 14.5% roughly, this is a giant tower.
Anyway, better examples would be: Commerce Court (http://www.realinsite.com/index_en....rt&locationc=&searchbyabldgbtn=Find+Buildings) which is about 40% empty now.
A couple of the TD towers as well.
I'll tell you something though, I keep an eye out on some of these buildings for fun and to my suprise some of the space is indeed geting leased out. There used be a lot more space in the TD complex all together but some of that has been taken. RBC is another good example, very little space available in the older towers even though RBC moved quite a bit space, it got leased.
There's another point as well here ... the new buildings, all have less then 15% space left (some even less then this) what this means is there may be a demand for new space even if the older towers aren't full.
Automation Gallery
Superstar
More positive news on the office front from Colliers International
He pointed out that three new office buildings – the Telus tower, RBC tower, and the Bay And Adelaide centre – that have cropped up in the city are full.
“The city waited nearly 14 years for a new tower and these came up during the recession and were still occupied,†Mr. Arnoldi said. “Toronto’s skyline has been changing dramatically and there are definitely more on the horizon.â€
“What’s really neat is this is Canada-wide story,†said Stuart Barron, national director of research at Cushman & Wakefield. “There are rumours on the streets of the new developments in at least four major cities – and in Toronto, you could expect to hear announcements of at least three more developments.â€
http://www.theglobeandmail.com/news...state-recovers-from-recession/article1981900/
taal
Senior Member
I love when the media / economist / whomever / exaggerate to make a point; Even when it's valid on it's own right without their help.
No the new towers aren't 'full', like I said 15% or less - clearly when the overall vacancy rate (this includes sublets) is around the 6-11% range throughout the GTA 15% is significant. Anyway, they will get full, sooner then later.
One thing I find interesting, the claim that the suburbs aren't doing as well, I really wonder if that needs to be looked at in more detail. There are several office developments in the pipeline (i.e. just about to start I believe) in Markham on the Hi-way 7 / 404 corridor; Same goes for the airport west / Mississauga east area ... at least as far as I'm aware (I'm more confident about the Markham district). Anyway, my point is, clearly there's demand there, so what could they be referring too, the outer 416 ?
Maybe, so really it's a tale of 3 cities, downtown / outer 416 suburbs / inner 905 suburbs.
Filip
Senior Member
Well the growing trend is that workers, especially in certain industries (financial, knowledge-based) are not too keen on working in the suburbs. This is forcing a lot of those companies to contemplate moves closer downtown. I think the general trend of hollowing out the core for campus-styled shlock in the suburbs is dead (and thank God for that).
taal
Senior Member
I just don't know ... maybe in the financial industry only sure. Also, Hi-way 7 is getting more and more dense, it hasn't completely moved away from the campus like structures - and the last couple they've built have been more along these lines. I wonder if intensification in downtown Markham will be different.
Also, it seems software companies just love it - large ones, not small ones, as many of those are downtown and have always been.
I guess they key issue isn't downtown verse the rest, it's the rest of Toronto verse the rest.