Hines, Ivanhoé Sign 85 KSF at CIBC Square
- Jul 28, 2017
After breaking ground last month, Ivanhoé Cambridge and Hines’ CIBC Square office project in Toronto secured The Boston Consulting Group as a major tenant.
Located at 81 Bay St., BCG will occupy 85,000 square feet of office space for its headquarters. The move, planned for the summer of 2021, will bring more than 300 employees to the new building.
“We are confident that this new development will serve our sizable firm presence in Toronto and support our growing office of the future,” said Cliff Grevler, senior partner & managing partner for BCG in Canada, in prepared remarks. “The opportunity to design our workspace in a setting that bridges the gap between the Financial District and the South Core, with amenities like convenient transit, sweeping water views and sizable outdoor space, is truly an opportunity we couldn’t pass up.”
CIBC Square comprises two office buildings on a 2.9 million-square-foot campus. On stories 49 and 50, the project will boast expansive views of Lake Ontario and Toronto’s skyline. CIBC Square will complete downtown Toronto’s Union Station campus master plan by delivering a GO bus terminal and providing direct links to all of downtown’s transit channels, including TTC Subway, GO Train, Via Rail, PATH and the UP Express. As part of the project, the Bay East Teamway will be renovated to provide direct immediate access to the GO Train platforms.
The signature amenity of CIBC Square is a one-acre elevated park, connecting the two buildings at the fourth floor. The project was designed by architects WilkinsonEyre and Adamson Associates. The complex will attain LEED Platinum Core & Shell certification, WELL Certification and WiredScore Platinum accreditation.
In April 2017, CIBC announced that it was becoming CIBC Square’s anchor tenant. The bank’s 15,000 employees will be moving to 1.8 million square feet in the two Class AAA buildings that will total 2.9 million square feet in 2020 and 2023.
Image courtesy of Hines