Apparently, when the BC Securities Commission was shopping around to leave 701 West Georgia last year (?) (potentially leaving the CBD), Cadillac Fairview was looking to enforce the "restoration" clause in their lease, so it would have cost them many millions of dollars (I can't recall the figure) to remove their internal staircase if they left. They ended up renewing.
Yeah they said they recently renewed at the end of 2019/2020
Quote:
We will also spend $2.5M on leasehold improvements as we have entered into a new ten year lease for the office premises that we have occupied since November 2000
We run local operations from a downtown Vancouver office to be close to the market participants that we regulate. Our 68,000 square feet of space cost us about $57 per square foot for 2019, under a lease that expires in November 2021.
Our lease ends November 30, 2021. Rent is as follows:
December 1, 2013 - November 30, 2015 $1,665,000 per year
December 1, 2015 - November 30, 2017 $1,725,000 per year
December 1, 2017 - November 30, 2019 $1,815,000 per year
December 1, 2019 - November 30, 2021 $1,910,000 per year
The new parkade seems to encroach on the alley more than the old one did.
If you use the Vancouver House vent structure as a benchmark, the new parkade does extend out a bit farther above grade.
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Three floors (27-29) of this tower have just been put on the sublease market. Avison is the sub-landlord's broker.
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Another concrete pour today.
There are aso 2 crane sections at the lower left corner.
I think they already installed one yesterday or earlier today (saw it sitting on the white insertion part yesterday)
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