What Does Microsoft's New Toronto Headquarters Mean For Commercial Real Estate?

Toronto continues to grow its portfolio of innovative tech companies, quickly becoming one of the most technological based epicentres on the planet. With Google creating a neighbourhood, and Amazon considering the GTA a potential new home for its next headquarters, it is no surprise that Microsoft has decided to open up its new headquarters in the heart of the city.

The new base of Canadian operations will be housed in CIBC Square, spanning 132,000 square feet over four floors, with a move-in-date of September 2020.

Microsoft’s addition to the downtown Toronto core will bolster the already strong city’s reputation as a technology hotspot, certain to add more merit to the city’s commercial real estate.

It should also impact the GTA’s residential real estate market, as staff at the current Mississauga headquarters will seek a shorter commute and more jobs are created in the downtown centre.

"This announcement by Microsoft offers yet more evidence of the strength of Toronto as a global technology centre, and as a desirable home for major corporations. By choosing South Core as its new home, Microsoft is embracing one of the hottest new areas of downtown and Toronto welcomes them with open arms," said Toronto Mayor John Tory.

Along with its Canadian headquarters relocation, Microsoft is also planning the relocation and expansion of its research and development lab in Montreal, relocation of its Vancouver sales office, and renovation and redesign of its Ottawa, Calgary and Montreal sales offices.

For more information on shortening your commute through finding homes closer to your occupation, or if you have a business and are looking for a location, Millennial’s Choice can help you. Please give us a call or send us an email at info@millennialschoice.com for more information.