IanO
Superstar
Pretty sure something is in the works there.
The meter shop or ops yard being empty wouldn’t really affect their office building plans. What I did know is that they’ve made a decision but it wasn’t public yet. Not saying they are going to Connect, I mean they could go suburban for all we know, but something will occur.My friend at Atco said he’s heard nothing and they have a half empty office on the west end, so he’d be surprised if they had any changes.
They’re pushing $300/share….getting bigger every day via acquisitions….akin to Stantec….hmmmmm…..I wonder^that is in the works, but it would not be 170k.
Maybe the old ATCO building?Or possibly for WSP moving off 109 and into the financial district?
The change is set to start in 2028 and will involve around 1,200 employees.
Atco said the decision was driven by a desire to stay connected to other businesses, help with the revitalization of the Downtown core, and give its employees good access to amenities.
“We think it’s important for the development of Downtown,” Jason Sharpe, Atco’s chief operating officer said. “If there’s people Downtown, then businesses will locate Downtown and it kind of builds off each other.”
Shaikh said the building at 105 St. ATCO leaves behind could potentially be a candidate for conversion, possibly to residential.
Taylor Riar, vice president, office brokerage with Colliers also worked on the lease. He said a major commitment like this by a large organization signals to other companies in the market that downtown is the place to be.
"It will only benefit your retail amenities, your foot traffic, your safety around the area long term — and in turn — it will also benefit the leasing market in the area,” Riar said.
Overall office vacancy in the downtown core has remained elevated, but is inching down. Riar said it now sits around 19 per cent, but will likely drop a bit more in the near future.
Shaikh said suburban office has been a relative strength in Edmonton with many tenants flowing from the downtown core to points beyond.
“But over the last several quarters, and actually, I would say a couple of years, we've actually seen that slow down... and almost stop. And we're now seeing the trend slowly reverse a little bit.”




