B6 (1090 W Pender) | 123m | 31Fl | U/C

[thefly]

Originally Posted by Metro-One

Is it a very famous tenant that one can search for easily on the internet? (Read between the lines)

Taking around the same amount of space as WeWork, around 10 floors?

[officedweller]

Originally Posted by Metro-One

Is it a very famous tenant that one can search for easily on the internet? (Read between the lines)

https://www.google.ca/

[jollyburger]

?

[Metro-One]

Originally Posted by officedweller

https://www.google.ca/

Well it ain’t Yahoo, haha. Just a hunch.

[SFUVancouver]

Ask Jeeves joke.

[rofina]

Calm down yall, its obviously HotBot.

[mcminsen]

The tower continues to spew it's guts out that hole in the side. Once it's gutted I wonder how they'll bring it down.



July 17 '19, my pics

[LeftCoaster]

Originally Posted by Prometheus

Is this the tenant that according to rumour will be "very surprising," if it comes true?

Yep this is the surprising tenant, and no, it's not Google... Even though yes they are in the market for a decent chunk of space.

[Prometheus]

Originally Posted by LeftCoaster

Yep this is the surprising tenant...

Thanks. I guess we will have to wait and see why this tenant is so surprising for Vancouver.

[trofirhen]

Kind of a shame saying goodbye to this one. It had rather a "presence" downtown. The curving corner of new 1090 is great, but precludes any design inclusion here, such as The exchange.
(Not that that is necessarily what the majority would want)

[officedweller]

It would be a surprise if it were


https://www.huawei.com/en/

[osirisboy]

Huawei wouldn't be much of a surprise

[Hourglass]

^^To coincide with the release of Meng Wangzhou, no doubt...

Doesn't Huawei already have an office in Burnaby? By reputation, I hear they're quite stingy when it comes to office space (have a real estate contact who was involved in the search for their office in Markham) so I'd be (pleasantly) surprised if they went for a location in downtown Vancouver.

[mcminsen]

Glass getting removed.



Aug.7 '19, my pics

[SpongeG]

BentallGreenOak tower set to rise in Vancouver’s business district
Grant Cameron August 16, 2019


BENTALLGREENOAK - An aerial rendering of the 32-storey office tower being built in downtown Vancouver.

A large excavator claws at a pile of grey rubble on a muddy parcel of land at 1090 West Pender Street in downtown Vancouver. A seven-level parkade at the site has been reduced to ground level and work has begun on the tear-down of an 11-storey tower that has been at the location for nearly five decades.

By the end of the year, demolition work at the site will be completed and operators will begin excavating six levels below street level for a parking garage and base of a new 32-storey, 534,000-square-foot office tower.

“It’s good soil,” says Tony Astles, managing partner and head of Canadian real estate services at BentallGreenOak. “We’ll just excavate and shore the sides to make sure it’s all tidy. It’s pretty straight-forward work for us.”

The new $300-million commercial development, dubbed B6, will be the third largest office tower in Vancouver. Co-owners of the building are OPTrust and BentallGreenOak Prime Canadian Property Fund. The building has been designed by Vancouver-based Musson Cattell Mackey Partnership and the general is Calgary-based Graham Construction.

Demolition work at the site began earlier this year. The new tower is expected to take just over three years to build and should be completed in early 2023.

For the underground walls, Astles said the developer will likely use shotcrete rather than formwork.

“We’ll wait until we get into the hole to see what soil conditions we have but probably we’ll use shotcrete.”

The building itself will have a unique shape, with the office tower larger at the top than the bottom, a design that passively reduces the solar load on the building.

The tower starts above a two-storey podium and expands from about 15,000-square-feet at the lower levels to 21,000-square-feet at roof level.

“Because it slopes from the top inward down it reduces the angle of incidence of the sun,” said Astles. “It reduces the solar effects on the inside of the building which reduces the mechanical equipment required to cool which also reduces the energy and reduces the cost.”

...

BentallGreenOak has already secured a large tenant for the building. New York-based WeWork Cos. Inc. , which offers shared office space and services for a fee, has inked a deal to be the anchor tenant in the building and will occupy 10 floors spanning 170,000-square-feet in the lower part off the building.

...

https://canada.constructconnect.com/...iness-district

[logan5]

Because it slopes from the top inward down it reduces the angle of incidence of the sun,” said Astles. “It reduces the solar effects on the inside of the building which reduces the mechanical equipment required to cool which also reduces the energy and reduces the cost.

Using a dark tinted glass would also reduce "solar effects". Is tinted glass that much more expensive? This is another green tinted tower for dt Vancouver.

[osirisboy]

Ugh we work? Huge disappointment. Wait is that the big mystery tenant?

[jollyburger]

Originally Posted by osirisboy

Ugh we work? Huge disappointment. Wait is that the big mystery tenant?

No that was announced earlier in the thread

[truenorth44]

I blinked, and all the cladding disappeared. At least that's what it seemed - I ride by every day, and yesterday I was surprised to see it naked. I'll try wander over at lunch for photo proof.

[SFUVancouver]

The disappointment with WeWork is surprising to me. While I appreciate that there would be far greater excitement for a marquee anchor tenant taking 10 floors, WeWork isn't exactly going to be putting in 10 floors of hot desks and foosball tables. That's just part of their business model, the far larger element is that of flexible commercial leasing agent.

Think of them as something like GE Capital Aviation Services, Aercap, or Air Lease Corporation (some of the world's largest commercial airline leasing companies, which buy airplanes from the factory and lease them out to airlines, small and large, for as short or as long as needed). Boeing and Airbus are perfectly happy selling new aircraft in tremendous quantities to these leasing companies, which in turn are more likely to be placed with major airlines than a start-up.

It shifts risk from the airlines (or companies in the case of WeWork) to the leasing company and sheds responsibility for major capex in exchange for somewhat higher operating costs. If things hit a downtown, the airline can shed metal, taking a hit on breaking the lease but far less than the cost of owning idle aircraft, while the leasing company can scour the world for opportunities to place aircraft, and since they buy in bulk from Boeing and Airbus, their per unit cost was originally lower than even the major airlines would have been likely to get. Airlines get the benefit of flexibility and lower capex while the leasing companies effectively buy wholesale and are the major short-term beneficiaries of growth in the global air travel sector.

WeWork takes this a step further by not owning the buildings themselves. It uses its financial resources to secure space in new and desirable office product in just about every major market and rides the rising tide of any sector that requires office space while falling back on their sweetheart anchor tenant leases and financial clout to weather downturns and shed space as required, all without being left holding the bag on owning empty bricks and mortar buildings with property taxes and bank loans circling like sharks.

If it makes sense for a company in WeWork space to buy out their lease and be direct tenants of the building, they'll do so, but staying within the WeWork leasing ecosystem may be more advantageous as WeWork can likely shuffle its tenants more easily than the building owners and with substantial space in multiple buildings in the city, WeWork can provide overflow and swing space to accommodate growth and relocation.

Anyway, for this project, having WeWork take 10 storeys is better than WeWork not having taken 10 storeys. And some of the companies sub-leasing space may well grow to the point where they're the anchor tenant in B7, B8, or B9, etc. Just my two cents.