Toronto’s CIBC Square development has added the Boston Consulting Group as a second major tenant.
The development at 81 and 141 Bay, which broke ground in June, will have two towers of 49 and 50 storeys (2.9M SF) completed in 2020 and 2023.
BCG, a global management consulting firm with 90 offices in 50 countries, is set to be part of CIBC Square’s first phase, occupying 85K SF of office space over two floors and one partial floor in CIBC Square’s south tower. More than 300 employees are expected to move from BCG’s current Toronto offices at Brookfield Place.
“We are confident that this new development will serve our sizable firm presence in Toronto and support our growing office of the future,” Cliff Grevler, senior partner and the managing partner for BCG in Canada, said in a release from building co-owners Ivanhoé Cambridge.
CIBC will serve as the project’s anchor tenant with 15,000 employees occupying approximately 1.75M SF. BCG is scheduled to start leasehold improvements at CIBC Square in 2020 with a move-in date set for mid-2021.
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