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Downtown Toronto Transit Developments
go-train-flickr-dave~


With vacancy so tight in the central downtown area and employers looking to attract talent at a lower cost, the development success of the south core of Toronto, “south of the tracks”, has developers looking across the entire GTA for prime development sites close to major transit.  With space density and securing talent with the “new worker”, companies are being strategic with their corporate real estate strategy and looking for the next best area to stay competitive. These trends have a direct impact on the corporate real estate world for owners and developers.  First Gulf, Menkes and GWL are landlord owner/developers that carved the path for new office development by Union Station, which created a lot of buzz in the media.  First Gulf is leading the way across the entire GTA from the South Don Lands (east end) to Oakville and Meadowvale (west end), with major redevelopment sites along Go Transit to offer an easier commute and access to large talent pool in central Toronto. Even though the occupancy costs are greater than 2nd and 3rd generation office, big corporations are now able to justify higher occupancy costs because of transit amenities and talent recruitment.

 

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Posted: Saturday, July 20, 2013 12:21 PM by Sutton Realty
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