Toronto Flooded With Office Space Spurs Fears Of New Bust - Bloomberg
(SLF) , the countrys third-largest life insurer, will have a new
home at One York Street by late 2016. The majority of buildings that are planned or under
construction are outside the...
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Toronto Flooded With Office Space Spurs Fears Of New Bust - Bloomberg
(SLF) , the countrys third-largest life insurer, will have a new
home at One York Street by late 2016. The majority of buildings that are planned or under
construction are outside the citys financial core, a five-block stretch of Bay Street thats home to
the countrys biggest banks. While landlords will have to lower their rent expectations, the new
towers will fill up as the expanding economy creates more jobs, boosting demand for updated
offices, Michael Caplice, senior managing director of office leasing for Cushman & Wakefield in
Toronto, said in an interview. Strong Growth We take confidence with the strong growth weve
seen through the last cycle, he said. Every single Canadian financial institution seems to be
looking for space. Additional projects are planned. City officials last month approved rezoning
applications for three office buildings, including a 54-story, 126,570-square-meter property
proposed by Cadi
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