Toronto Flooded With Workplace Spurs Concerns Of New Bust - Bloomberg

Toronto Flooded With Workplace Spurs Concerns Of New Bust - Bloomberg They may build eventually, but weve got a lot to absorb, Caplice said. Scotia Plaza Some real estate companies already are taking a hit. Dream Office REIT, majority owner of the Scotia... More

Toronto Flooded With Workplace Spurs Concerns Of New Bust - Bloomberg They may build eventually, but weve got a lot to absorb, Caplice said. Scotia Plaza Some real estate companies already are taking a hit. Dream Office REIT, majority owner of the Scotia Plaza Tower, is down 2.8 percent this year, compared with an 11 percent advance for the Standard & Poors/TSX Composite Index. Law firm Borden Ladner Gervais LLP is among tenants defecting from the REITs pink-tinged glass Scotia Plaza, bought for a record C$1.3 billion in 2012, to the new buildings opening in the area. Allied Properties REIT, owner of about 3.6 million square feet of office space in Toronto, has gained 4.7 percent this year. Blanchaer, a lead architect at his firm for three decades, has observed Toronto through several booms and busts. Hes prepared to take on more work for condominium developers and for projects abroad if the office market cracks. We live it and breathe it but we know it goes in cycles and weve been on Less