Posted May 24, 2017, 5:45 PM
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Registered User
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Join Date: Mar 2012
Posts: 6,192
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I heard from someone that the Tuxedo Business Park has as a similar amount of office space to 201 Portage Ave.
The opening of TNS could make for some interesting times though. TNS is largely going to be a relocation of office space from within downtown, mostly Class A buildings. This is going to put a general pressure on downtown office leases rates across the board as landlords are going to have empty space and be searching for people to fill it. Some might go the Sterling route and convert to residential but others might start aggressively chasing those office type tenants that are currently out in the suburbs. The lure of free parking could be difficult to overcome though but the lease rate on the financial statement could definitely help especially when its the employees not the employer that end up picking up the cost of downtown parking.
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