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Did you forget what site you're on??!!!
I agree. We should not get ahead of ourselves. It would be unwise to make investments in another major oilsands project as much as Alberta could use it. IF oil flirts at $100/barrel again it will be brief. All it would need to collapse again is for OPEC to ramp up production.
Rogers isn't known for going full on Class A, nor developing its own projects. Decidedly Class B-ish - and at least for sites where they are the primary or only office tenant they've been buyers, not renters. They bought their headquarters from a bankrupt insurance company, and their main back office in the GTA from Nortel.
I believe HP was in the former Norcen tower. I recall that building being Sun Oil, and then Suncor , before having no logo for a while, and then Rogers.
I see a lot of comments like this, I bet people were saying the same things during previous downturns.
When in the previous downturns did we have nearly 15 000 000 sqft of empty office space?
Past downturns were mostly cyclical, this one is structural, where a one-off shift changes the playing field completely from the existing paradigm. We had a structural shift with the adoption of multi-stage fracking, first in gas, then oil. We are likely on the cusp of another with the deep decline in renewable installation and battery prices. There will likely be short boomlets - where you can make a lot of money if you've timed your peak production of your tiny firm with peak prices. But is a bank going to bet on a project being profitable from just the boomlets over a 20 year payoff period? And who is going to back that tiny firm to expand when it might have been 4, 5 years from the last peak profit time, and it is not predictable when it will come.
