Great Canadian Skyline Thread II - Page 45

Calgarian · #**881** Posted **Jun 30, 2016, 6:43 PM**

Quote:

Originally Posted by Daveography

There are always rumours about buildings getting capped in a market downturn. Very few have ever come to pass.

Exactly. Telus likely signed the paperwork on the lease and has likely given notice for their current space, so why would they panic and try to back out potentially facing litigation? Especially if the developers are in good shape.

MonkeyRonin · #**882** Posted **Jun 30, 2016, 7:33 PM**

https://www.flickr.com/photos/kevincabralstudios/27339273604/

Monolith · #**883** Posted **Jun 30, 2016, 7:40 PM**

Found a unique vantage point of the skyline of Vancouver, Canada [8488x3870] [OC] by Patrick Lawe, on Flickr Taken on May 25, 2016

* Interesting infrared below, although slightly vertically elongated.

Skyline from Skytrain 01 by Sharon Tenenbaum, on Flickr https://www.flickr.com/photos/[email protected]

2016-06-20-0049 by Claude Fiset Follow, on Flickr https://www.flickr.com/photos/126232530@N08/27541483750/in/dateposted/

LeftCoaster · #**884** Posted **Jun 30, 2016, 8:47 PM**

Quote:

Originally Posted by Calgarian

Exactly. Telus likely signed the paperwork on the lease and has likely given notice for their current space, so why would they panic and try to back out potentially facing litigation? Especially if the developers are in good shape.

Why? Because they could sign a similar lease for $3.00 per square foot today rather than the $35.00 they signed at during the peak of the market.

If they buyer and seller both have a desire to back out of the deal a chance exists it will happen. I am not saying it will happen, but the circumstances exist to make it an outcome that would not be surprising, wither the building is 1 floor above grade or 10.

I personally love the building, so I hope that it will continue, and continue without major cost engineering, but I certainly wouldn't put a lot of money on it.

Delirium · #**885** Posted **Jun 30, 2016, 9:52 PM**

Vancouver, BC by zxorg, on Flickr

Martin Mtl · #**886** Posted **Jun 30, 2016, 10:06 PM**

Quote:

Originally Posted by LeftCoaster

Why? Because they could sign a similar lease for $3.00 per square foot today rather than the $35.00 they signed at during the peak of the market.

If they buyer and seller both have a desire to back out of the deal a chance exists it will happen. I am not saying it will happen, but the circumstances exist to make it an outcome that would not be surprising, wither the building is 1 floor above grade or 10.

I personally love the building, so I hope that it will continue, and continue without major cost engineering, but I certainly wouldn't put a lot of money on it.

Surely you mean $30 versus $35, not $3 versus $35 ?

LeftCoaster · #**887** Posted **Jun 30, 2016, 10:24 PM**

No I mean $3.00

Net rents are currently near $0 in Calgary, some subleases are going negative.

I don't think people are fully appreciating how bad the office market is right now.

caltrane74 · #**888** Posted **Jul 1, 2016, 12:16 AM**

I need to lease some office space in Calgary all of a sudden. Lol!

O-tacular · #**889** Posted **Jul 1, 2016, 12:34 AM**

Quote:

Originally Posted by LeftCoaster

Why? Because they could sign a similar lease for $3.00 per square foot today rather than the $35.00 they signed at during the peak of the market.

If they buyer and seller both have a desire to back out of the deal a chance exists it will happen. I am not saying it will happen, but the circumstances exist to make it an outcome that would not be surprising, wither the building is 1 floor above grade or 10.

I personally love the building, so I hope that it will continue, and continue without major cost engineering, but I certainly wouldn't put a lot of money on it.

Someone in the Calgary forum a week or two back said they spoke to the site super and it was full steam ahead.