sunnyraytoronto
Senior Member
AutomationGallery,... come on,... like I said,... let's make a bet,.... I win, you stop posting on urbantoronto.ca for a year,.... if you win, I stop posting on urbantoronto.ca for a year,.... deal?
- Thread starter Automation Gallery
- Start date
Miscreant
Senior Member
AutomationGallery's unmitigated enthusiasm for density and height at virtually all costs is nothing short of heroic. Few can sustain that kind of passion.
drum118
Superstar
Still doesn't means there are or will be jobs there and will be class as empty.
You can't force companies where they must operate since they will want to operate where it will benefit them the most.
North York Centre area will not be employment area for decades, considering it was supposed to happen decades ago. Until free surface parking in the outer 416 and 905 is remove, you are not going to get companies to relocate to there.
Who would thought the area south of Front Street would be an employment generator decades ago. It only happen because business couldn't attracted employees to travel long distance outside the core.
TTC is willing to wait for an office tower for the Sheppard Terminal even if it takes 50 years, considering a condo could go up within 10 years on that land now. The plan to go condo in place of office was rejected by TTC almost a decade ago to what is there now.
You may get the same space in the new tower that exist today, but how long will it take to full fill it??
TTC lands are supposed to be reserved for an office tower, but may not be there come 2022 when the land will be available for redevelopment.
What has happen for the additional floors for Eglinton Centre for more office space??
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Automation Gallery
Superstar
Hahaha, no thanks.....i'd rather take care of the tab at a North York bar than not post on UT for a year
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taal
Senior Member
I know before I've told you hullmark managed to sell just about all the office inventory; But I agree that in way it implies they're occuiped and that not 100% of the space is for sublease.
With that said:
I find this site is fairly accurate; Before they listed 100% for the development but now you can see that # shows more direct available / sublset space, but still a small fraction:
http://www.altusinsite.com/index.ph...ng_name=Yonge&searchbyabldgbtn=Find+Buildings
Leasing District North Yonge
Building Name Hullmark Centre
Office Class --
Total Office Area 165,000 (sq. ft.)
Number of Floors 12
Typical Floor 15,000 (sq. ft.)
Year Built 2014
Parking Ratio (1 per) nd
Number of Parking Stalls nd
Direct Available Area 6,922 (sq. ft.)
Sublet Available Area 1,000 (sq. ft.)
Total Available Area 7,922 (sq. ft.)
U
Urban View
Guest
The design here looks promising!
Automation Gallery
Superstar
Thanks for the link taal, in other words its the other way around from what sunnyray stated.... so 80% leased or sold, and 20% vacant, interesting
taal
Senior Member
Generally I find that site accurate but given its a "condo office" may that's not really the case; Usually most of leasing activity in a building is driven by a single leasing company (e.g. colliers, cushman and wakefield, ...) for some larger buildings downtown there can be multiple ones.
But in a condo office how does it work ? Is it up to each individual to go out and find a company to attempt to sub-lease the space assuming that's what they want to do.
So it's quite possible those stats aren't very accurate for condo-offices, so sunnyray's anecdotal observations that they look very empty may not be far off base.
sunnyraytoronto
Senior Member
AutomationGallery,... as I've stated many times,... about 80% of the condo offices at HullmarkCentre are EMPTY,..... come on,.... like I said before,... let's make a bet,.... let's make this interesting,.... I win, you stop posting on urbantoronto.ca for a year,.... if you win, I stop posting on urbantoronto.ca for a year,.... deal?
AutomationGallery,.... you obviously don't want to trust me, the local North York Centre guy who walks by HullmarkCentre multiple times almost every single day, but you want to trust some office space for sale/lease/sublet website most folks aren't familiar with,.... come on, make the bet,... it'll be fun!
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Please, no more of these "jokes" about not posting on the Forum for a year.
This is not the Hullmark thread. We have no idea if these will be office condos. The only evidence being presented re: office condos is anecdotal. We get it, move on.
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This is not the Hullmark thread. We have no idea if these will be office condos. The only evidence being presented re: office condos is anecdotal. We get it, move on.
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sunnyraytoronto
Senior Member
My observation from HullmarkCentre is "office condos" are basically a scam,.... developer sells office condo out,... but buyers don't fill them up,.. the vast majority of "office condo" remain empty,.... I'll post more about it in the next few days on the HullmarkCentre thread,....
So why do developer build office condo,.... it satisfy the office "space" requirement they need to get approval from city planning especially at prime locations along Yonge Street at and with direct connections to TTC Subway Stations,... site like HullmarkCentre,.... EmeraldPark,..... 4050 Yonge (see taal's link - those office condo on pre-construction sale now),.... and 1 Eglinton East,...
Huh? But we don't know whether 1 Eglinton East will get office condo or regular large offices,.... what we do know is there's no market for large office space outside the downtown core,.... and we do know 1 Eglinton East is being forced by the city to at least match the office space that's currently there at that site,..... and the developer will easily sell out office condos,.... office condos that will mostly remain empty,.... and empty office condos don't provide local office jobs,..... and that's how the office condo scam works,.... the key is who is really buying the office condo,... and why? Go through Taal's link,.. and that'll give you a bit of a hint,... compare that to others buildings at that site and there's an interesting trend,... and if you figure this out, you'll know why office condo didn't work at HullmarkCentre and why office condo won't work at 1 Eglinton East,... office condo are really just smoke and mirrors because the vast majority of office condo remains empty and don't provide any office jobs,...
4789 Yonge Street, North York, Ontario
MapFile Library
Managed By Tridel, 416-733-2883 Leasing Contact Juliana Tsui, 416-733-2883 Muxia Hao, 416-491-4002 Li Fei Qu, 416-490-0880
4789 Yonge Street, North York, Ontario
Leasing District North Yonge
Building Name Hullmark Centre
Office Class --
Total Office Area 165,000 (sq. ft.)
Number of Floors 12
Typical Floor 15,000 (sq. ft.)
Year Built 2014
Parking Ratio (1 per) nd
Number of Parking Stalls nd
Direct Available Area 6,922 (sq. ft.)
Sublet Available Area 1,000 (sq. ft.)
Total Available Area 7,922 (sq. ft.)
Direct AvailableDirect Available Verification Date: Sep 17, 2015
Space Available Area sq. ft. Space Type Contact
403 844 Office Gigi Xu
508 927 Office Ya Mary Tang
902 738 Office Juliana Tsui
916 1,365 Office Juliana Tsui
1005 943 Office Juliana Tsui
1006 2,105 Office Philip Garratt
Sublet Available
Space Available Area sq. ft. Space Type Contact
605 1,000 Office Li Fei Qu, Aimhome Realty
Available for Sale
Space Available Area sq. ft. Space Type Contact
5 C&D 1,690 Office Andrew Meanchoff
512 1,048 Office Adam Dauphinee
513 928 Office Adam Dauphinee
514 899 Office Adam Dauphinee
515 927 Office Adam Dauphinee
5N 733 Office Andrew Meanchoff
Sunnyray, you are going on vacation from UrbanToronto for a while, as you have ignored a request to stop posting off-topic in this thread.
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WislaHD
Superstar
I don't know how anyone would agree to that bet; the stakes here are too high.
maestro
Senior Member
Not sure being allowed to build taller than proposed is much an incentive to a developer to build more office space.
UrbanAffair
Senior Member
Nice to see the office space will still exist here at the 1 Eglinton East proposal.