TORONTO--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that it recently brokered
Shopify’s lease of up to 433,752 square feet in downtown Toronto’s new
development, The Well. Michael Scace, Alan Rawn and Lauren Luchini of
Cushman & Wakefield were the exclusive representatives of Shopify who
agreed to a long-term lease of 15 years commencing in 2022.
“Having Shopify commit to such a significant amount of space at Allied
REIT and RioCan’s latest project The Well is not only a great Canadian
story, but a true testament to Toronto’s desirability for world-class
tenants,” said Michael Scace, Senior Vice President, Cushman & Wakefield.
The Cushman & Wakefield team has been the representative of Shopify
since 2013, helping find the e-commerce company office space to
accommodate its rapid pace of growth in Toronto over the past five
years. The team first secured a space at 80 Spadina Avenue in 2013 and
then later secured a new headquarters lease of 158,520 square feet that
launched King-Portland Centre in 2016. This most recent transaction at
The Well development commits to an initial 254,000 square feet with
unprecedented expansion rights for the remaining square footage.
The commercial component of The Well is a joint venture between Allied
REIT and RioCan. It is a mixed-use project that includes residential,
commercial and retail that will bring more than 3 million square feet to
the city, of which Shopify has made a significant investment. This Class
AAA office building design is targeting LEED Platinum certification and
is scheduled for completion in 2022.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services
firm that delivers exceptional value for real estate occupiers and
owners. Cushman & Wakefield is among the largest real estate services
firms with 48,000 employees in approximately 400 offices and 70
countries. In 2017, the firm had revenue of $6.9 billion across core
services of property, facilities and project management, leasing,
capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or
follow @CushWake on
Twitter.
Source: Cushman & Wakefield
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181219005538/en/
Edna Canning-Park
Communications Manager
+1 416 359 2581
edna.canning@cushwake.com
Source: Cushman & Wakefield