A tower on a forlorn stretch of Bloor Street East is getting a $10-million renovation to liven the place up a bit.
"The building really turned into a bit of a dog," says Chris Fyvie, a broker with
Colliers who's handling the building. "They weren't investing any money into it. It was the last place you would show; you would show it if you had a client with a really limited budget."
Work is already underway, with common areas on the 12th and 19th floors completed to show prospective tenants. According to Fyvie, landlord
Greenwin is looking for tech companies and smaller businesses. They'd also like media companies; Fyvie points out the building's extreme proximity to the Rogers campus. Suites as small as 1,690 square feet are available.
The price will be in the low $30s per square foot.
The 20-storey tower, built in 1972, current has about 80,000 square feet of vacancy out of its total 272,908. Fyvie says there are negotiations afoot with one major potential tenant who might take a sizeable portion of the building, potentially including the lobby.
There's an open house for brokers on March 29 to show them the new 365.
Writer: Bert Archer
Source: Chris Fyvie
Do you know of a new building going up, a business expanding or being renovated, a park in the works or even a new house being built in the neighbourhood? Please send your development news tips to [email protected].