A new building is proposed by Toronto Board of Trade and real estate firm CBRE Canada as part of the Board’s vision to position Toronto as Canada’s global champion.
“Canada and the Toronto region are capturing the world’s attention. This iconic building will provide a gathering place for international business, connecting buyers and sellers, investors and leaders, to take the Toronto region to the world,” said Jan De Silva, President & CEO, Toronto Region Board of Trade.
The plan is to attract tenants including consulates, government trade and funding organizations, corporate and professional services providers; those who support Canada’s trade services.
“Toronto is currently experiencing one of the most dynamic office markets in history, and this project will add to the impressive growth of recent years,” said Werner Dietl, Executive Vice President and GTA Regional Managing Director of CBRE Canada. “Our downtown office market has become a global standout with the lowest vacancy rate of any major North American city.
In the second quarter of 2017 the vacancy rate in Toronto dropped below 4% for the first time ever with a rate (3.8%) well below the second-lowest vacancy rate in North America (6.7%) recorded in San Francisco.
More market update:
New York, Bahrain, Shenzhen and Sao Paulo all have World Trade Centres and Toronto could soon be added to the list of cities to embrace the iconic name.