July 25, 2017

The Boston Consulting Group to move into CIBC Square

BCG to take approx. 85,000 ft2 (8,000 m2) in Phase 1 at 81 Bay Street with move-in planned for summer 2021

Ivanhoé Cambridge, Hines and The Boston Consulting Group (BCG) announce that global management consulting firm BCG, has chosen CIBC Square for its future Canadian headquarters, at 81 Bay Street, in downtown Toronto. BCG will occupy approximately 85,000 ft2 (8,000 m2) of office space. With a move planned for the summer of 2021, well over 300 employees will move into a new work environment featuring state-of-the-art amenities, collaborative spaces, and extensive views of Lake Ontario and Toronto’s skyline.

“We are confident that this new development will serve our sizable firm presence in Toronto and support our growing office of the future. 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. We’re confident that the new space will encourage innovative ways of teaming and collaboration for our most valuable asset, our employees,” said Cliff Grevler, Senior Partner and the Managing Partner for BCG in Canada for the Toronto, Montreal and Calgary offices.

“We are delighted to welcome The Boston Consulting Group to CIBC Square. Finalizing a lease with a tenant of this calibre is something of which we are extremely proud. Having another first-class tenant choosing to relocate its Canadian head office to this transformative project is a clear endorsement of CIBC Square as the new pre-eminent business address in downtown Toronto,” said Jonathan Pearce, Senior Vice President, Office Leasing, North America at Ivanhoé Cambridge.

“Hines is thrilled to now have BCG as an anchor tenant in Toronto at CIBC Square. With BCG leases at five other properties over the past decade, we have had a long-standing relationship with BCG and are looking forward to working with them to create best-in-class office premises that will support their global business and brand,” commented Tom D’Arcy, Senior Managing Director at Hines.

CIBC Square broke ground in June 2017. In April 2017, CIBC announced that it was becoming CIBC Square’s anchor tenant. The bank’s 15,000 employees will be moving to approx.1.75 million ft2 (163,000 m2) in the two Class AAA buildings that will total 2.9 million ft2 (270,000 m2) in 2020 and 2023.

About CIBC Square: Delivering a new international standard to Toronto
CIBC Square epitomizes the best of the “transit-oriented development” (TOD). Comprising two highly innovative office buildings on a 2.9-million-ft2 (270,000-m2) downtown urban campus, the project will offer cutting-edge office and collaborative spaces. At 49 and 50 storeys, it will offer expansive views of Lake Ontario and Toronto’s skyline. CIBC Square will complete downtown Toronto’s Union Station campus master plan by delivering a world-class 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 (Union Pearson) Express. As part of the project, the Bay East Teamway will be renovated to first-class standards and will provide direct immediate access to the GO Train platforms.

The signature amenity of CIBC Square is a one-acre elevated park, spanning one of North America’s busiest railways to connect the two buildings at the 4th floor level. The project was designed by architect firms WilkinsonEyre and Adamson Associates to exceed mechanical, electrical and security expectations. The complex will attain LEED® Platinum Core & Shell certification, WELL Certification and WiredScore Platinum accreditation.

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