The office market is no where near to dead or dying. Reason being is that there are so many people scamming companies it is not funny. I know of numerous people doing two jobs who have been caught and fired. This is why companies are pushing for back to work. And there is a lot more of this crap going on than you are aware of. We are ticking back up to normal sooner than you think.

GO trains are more packed and the TTC is back too or close to 2019 levels. Next year will be a game changer in terms of back to work. The only bad thing is the economy and the slowdown/correction in the stock market.
 
Well..............you all want a tease................here's one from the horse's mouth:

err.....Oxford Properties vice-president and head of eastern Canada office Kevin Hardy.........

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The above, from this article over at Renx: https://renx.ca/oxford-and-ey-sign-long-term-lease-renewal-toronto-ey-tower
 
If anyone ever wants to explore data about this stuff, CBRE does great reports:


As has been pointed out in the thread, there's no current market push to build more office space because there's an enormous amount of office space that started construction before the pandemic that is just now getting finished. So it is unlikely that Oxford will start construction on a purely office building any time soon.

BUT the market is recovering - there is a lot of leasing activity going on. So whether or not people think the office is dead, there's plenty of organizations that are putting down a lot of money for new office space in the year Twenty-Twenty-Four.
 
UtakataNoAnnex said:
Welp. I'll forgive you for bumping this...it's new news! Though I am not sure it's "I'll hold my breath" news...but it's news none of the less. 🙀
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If JP Morgan ends up purchasing space in this project with the standard they have set at Park avenue this could be one of the nicest buildings built in Toronto
 
This confirms what I heard. JPM is knocking the doors around here. Like Citi with their office in Mississauga, JPM is potentially looking to do the same. Already looking at potential data centre space. The big French banks did the same thing in Montreal (SocGen, BNP and now Credit Agricole). Even Morgan Stanley has a substantial office presence there too.
 
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innsertnamehere said:
I somehow doubt JPMorgan is just going to sign a lease in Toronto for a 1+m sf office block on a whim to enter the market.
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A full 1M ? No.

But they are one of several large companies that have been scouting Toronto since prior to the pandemic. While some can-kickers are looking at smaller spaces......others are looking at several hundred thousand ft2.

Looking, and signing a deal aren't the same.

But Toronto carries huge advantages for some large players in financial and tech that are difficult to ignore.
 
This is clearly a message to one of Canada's Big Banks (not JPM). I.e. Look what JPM is doing in NYC, you need to be doing this in Toronto. Which Big Bank in Toronto needs to consolidate their old space and build a new tower? My thinking the clear leader is RBC, and possibly BMO. Count out TD (new tower), CIBC (new towers), and Scotiabank (new tower).
 
urb@ndweller said:
This is clearly a message to one of Canada's Big Banks (not JPM). I.e. Look what JPM is doing in NYC, you need to be doing this in Toronto. Which Big Bank in Toronto needs to consolidate their old space and build a new tower? My thinking the clear leader is RBC, and possibly BMO. Count out TD (new tower), CIBC (new towers), and Scotiabank (new tower).
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hahaha! I just posted the exact same thing and then deleted it because I started to doubt my thought on it.
 
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