[CoryB]

^^ The challenge is 201 Portage already has some decent sized spaces available and that is before the whole tenant shuffle to True North Square starts. True North Square is bring a sizable mount of new office space on the market but demand is fairly stagnant. The stories have already been out for a few years that some tenants have found when their class B leases come up for renewal the ask to stay put is actually higher than moving to a class A space like 201 Portage. Downtown Winnipeg office space has definitely shifted to a buyers market. That is why the suggestion that Portage Place further get into that market seems ill timed to me. Once the newer spaces like True North Square come online a 30 year old class B space like Portage Place is going to become even more undesirable.

I also don't think that Portage Place itself is hurting for parking for its own tenants. One sure sign would be if they started limiting monthly parking to only tenants. But as was mentioned earlier on this thread Portage Place does not directly control the parking they sit on. Similar to the idea of building on the surface lot, they likely do not control that property.