Ivanho Cambridges announcement this week that ING DIRECT Canada had not only re-upped their lease in the office space in the Steeles Technology Campus, but added another 83k SF, caught us a bit by surprise. Scotiabank recently purchased ING and the big banks congregate in the downtown core. Steeles Technology Campus is well north of the downtown area--Steeles Avenue, southeast of Highway 404. However, for ING DIRECT Canada CEO Peter Aceto the company, invests in our customers, not in expensive rent and premises, so being downtown did not make sense 16 years ago [ING has been based in North Toronto since 1997] and makes less sense today. Plus theres the fact they will be able to consolidate Canadian operations in the same building. This all made the decision to sign a new 10-year lease a straight-forward one, Peter adds. ING now has 193k SF, floors five to 11. Fit out at the new space starts this year.
ING Canada Goes Big at Steeles Location
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