March 6, 2020

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GTA office building spree to spur major tenant shuffle

May. 26, 2020

EQ Bank Tower

EQ Bank is moving its headquarters from Slate Asset Management’s 16-storey, 180,000-square-foot, class-A building at 30 St. Clair Ave. W. to be the lead tenant with almost 180,000 square feet over eight floors at First Gulf’s 24-storey, 460,000-square-foot development at 25 Ontario St.

The building, formerly known as The Shift, will now be called EQ Bank Tower.

Think Research will occupy nearly 90,000 square feet at the new building after it leaves its space at First Gulf’s 500,000-square-foot 351 King East. EQ Bank Tower is tentatively scheduled for completion in the fourth quarter of 2021.

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GTA office building spree to spur major tenant shuffle

Toronto has 8.7 million square feet of office space under construction and 27.5 million more in the development pipeline. While the COVID-19 pandemic will undoubtedly create some fallout within the sector – a rethinking of office space usage, perhaps some
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Is EQ bank moving all their staff here? Or will they retain some space at their current location?
 
Undead said:
Is EQ bank moving all their staff here? Or will they retain some space at their current location?
Click to expand...

I'm under the impression that they will move the entire workforce into the new space here.

Quote from article:

Equitable Bank Continues to Grow with Plans to Move its Headquarters in Toronto

Today, Equitable Bank, Canada's Challenger Bank™, a wholly-owned subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C), is proud to announce that it has signed a long-term lease agreement...
eqbank.investorroom.com eqbank.investorroom.com

"Our current location has served us well these past few decades but we've taken it as far as we can," said Andrew Moor, President and CEO of Equitable Bank. "The move of our headquarters from midtown Toronto to the developing Downtown East district allows us to leverage new building designs with larger floorplates to accommodate our growing workforce, while keeping the Toronto team together in one space. We considered a number of options, including those in the heart of the downtown financial core, but we've never seen ourselves as a traditional bank, and we believe this building is the most cost-effective path to achieving our long-term goals, while continuing to pass on savings to customers with our branchless digital approach."

By moving to a new building that's being built from the ground up, Equitable will benefit from the opportunity to design and shape the vision of interior workspaces and employee environments across its eight floors, which will allow the bank to increase efficiency and maximize opportunities for collaboration and workflow across the organization.
 
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