123 James St North | ? | ? | Complete

[arch100]

The crane is being delivered right now.

[Jon Dalton]

Looks like work is finally starting. The crane is on site unloading steel beams from a truck.

[drpgq]

Pic, source me.

[Katrillion]

Finally! It's starting to be built! But even though I wish to see this building sprout up ASAP and hopefully it'll rise as quickly as McMasters new building is! DAMN!

[oldcoote]

price per square foot is annual.

So 1000 sq feet at 22.50 is $22,500 per year or $1875/month

TMI (Taxes, Maintenance, Insurance) might be added to this figure as well.

It might be on the high side for the neighbourhood, but it is a new build. Be interesting to see who they sign, aside from Subway.

[movingtohamilton]

More on the story here. http://www.raisethehammer.org

[thistleclub]

Via Judy Marsales:

Second Floor: 5,000 sf @ $22.50/sf
"A Class Amazing Office Space in this new build... Fully accessible building. Underground parking. Elevator access to roof top terrace. Occupancy May 2014."

Ground Floor: 1,000-5,000 sf @ $22.50/sf
"Retail space available below 20,000 sq. ft. of office space. Terrific location on James North between Cannon & Wilson."

[thistleclub]

Originally Posted by thistleclub

Via Judy Marsales:

Second Floor: 5,000 sf @ $22.50/sf
"A Class Amazing Office Space in this new build... Fully accessible building. Underground parking. Elevator access to roof top terrace. Occupancy May 2014."

Ground Floor: 1,000-5,000 sf @ $22.50/sf
"Retail space available below 20,000 sq. ft. of office space. Terrific location on James North between Cannon & Wilson."

Both listings were dropped to $18 per square foot in August but it may have been in error: The ground floor listing is back to $22.50 per square foot.

[Jon Dalton]

$18 per square foot is pretty cheap. I wonder what the catch is.

[movingtohamilton]

^ lack of interest @ $22.50/sq. ft ??

[oldcoote]

Originally Posted by Jon Dalton

$18 per square foot is pretty cheap. I wonder what the catch is.

lack of character

[mattgrande]

I don't know much (anything) about commercial real estate. Is $22.50/sq ft reasonable, and is that per month? Year? Something else?

[ScreamingViking]

Originally Posted by mattgrande

I don't know much (anything) about commercial real estate. Is $22.50/sq ft reasonable, and is that per month? Year? Something else?

$13.25 for Jackson Square's office space
http://www.realpropertieslimited.com...ilability.html (same rate for all 4 towers)

I figured that would be per month, but it's probably annual. When you do the math: if someone leased an entire floor of 100 King W. it would cost them about $225k.

This site notes that Robert Thomson is Class C... I imagine it's the same in the other buildings too, based on the rates being the same.

[Jon Dalton]

Originally Posted by mattgrande

I don't know much (anything) about commercial real estate. Is $22.50/sq ft reasonable, and is that per month? Year? Something else?

$ / ft^2 / year is the standard measure for commercial real estate. That is high for the area, but not unreasonably high considering this is new construction. It also depends what is included in the rent as taxes and utilities can be huge.

I'm sure there are businesses that can afford and are willing to pay that rent, particularly chains with more capital to throw at a new location. They tend to prefer new or extensively renovated spaces.

[SteelTown]

Subway is one tenant signed up.

[Katrillion]

Originally Posted by steeltown

subway is one tenant signed up.

nooooooooo!!!!!!!1

[sil]

Originally Posted by Katrillion

nooooooooo!!!!!!!1

a little dramatic arent we katrillion

[ScreamingViking]

Originally Posted by sil

a little dramatic arent we katrillion

I tend to agree with Katrillion. I've got nothing against Subway, in fact I prefer their fast food to others, but there's something good about keeping James N. free of the big chains (though it's probably inevitable that we'll see some of them)

[ihateittoo]

subway, in my travels, seems to be the most proliferated of fast food chains... so if a subway happens to come to james north I hope its not at the expense of the subway on King St E. Even though an anchor tenant raising the average rent may be a plus to making development attractive in downtown but for this to be a step forward we don't want to just shuffle the businesses we already have in the core.

[Jon Dalton]

Subway just opened at York and Bay. Maybe they plan to move once 123 James North is built. It sure seems like nothing can survive long at that awful strip plaza anyway.

I was also hoping the Subway rumour was false, as I'd like to see something better. Still, they have a different customer base and will bring exposure to the other businesses on the street. There's still all the other ground floor units to fill.