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Core Issue with New Wave of Space

Toronto
Core Issue with New Wave of Space

COREISSUE

With 16.9% more Class-A core and South core office space expected to open by 2016, this theory that businesses are migrating back downtown en masse will be tested. Smith Co president Paul Smith says internal growth by existing core firms will help absorb space vacated by tenants going to new towers. Thats what happened in recent years when a similar percentage opened up, Paul says, highlighting the work of Tony Hamilton on Smiths stacking plans. Lots of space comes online in late 2015 and 2016 and it will get attention, but the real story will be in re-absorption rates at older buildings, he says, adding that tales of companies moving back from the suburbs might be overblown. There'll be room for firms to grow at older buildings, and that would be good.

Lacklustre effort the other night by our hockey Leafs. Is another great crash upon us? Emailmark.keast@bisnow.com

Related Topics: Paul Smith, Smith Co, Tony Hamilton