Ivanhoé Cambridge and Hines are proud to announce that Microsoft Canada is moving its Canadian headquarters to CIBC SQUARE at 81 Bay Street in downtown Toronto. Microsoft will occupy 132,000 ft2 (12 265 m2) over four floors at 81 Bay Street, with move-in scheduled for September 2020.
“This lease agreement with Microsoft confirms CIBC SQUARE as the ideal project for the highest-profile companies that are seeking a next-generation downtown urban experience,” said Arthur Lloyd, Chief Development Officer, Office, North America, and Vice Chairman, Ivanhoé Cambridge. “We look forward to this long-term relationship and are delighted to welcome Microsoft Canada to CIBC SQUARE.” He added: “CIBC SQUARE will provide its occupants with market-leading amenities, an elevated park, and an iconic design, while being strategically located at the confluence of all major transit channels in the heart of downtown Toronto. It is these factors that will set CIBC SQUARE apart as the pre-eminent office complex in Toronto.”
Tom D’Arcy, Senior Managing Director, Hines, commented: “Hines is thrilled to have Microsoft Canada join the tenant roster of CIBC SQUARE. Having another first-class tenant choosing to relocate its Canadian head office to this transformative project is evidence CIBC SQUARE is the new pre-eminent business address in downtown Toronto.”
And Microsoft Canada President Kevin Peesker stated: “Increasingly, Canada is being recognized as a global leader in technology and the investments we are making today and into the future will help ensure Canada continues to be a hotbed of innovation. By relocating our headquarters to CIBC SQUARE in downtown Toronto, we will be able to better serve our customers and attract top talent to continue to drive innovation and growth for our Canadian customers and our large partner ecosystem.”
To learn more about Microsoft’s announcement, please click here.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Ivanhoé Cambridge held more than C$60 billion in assets as at June 30, 2018 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers. For more information: ivanhoecambridge.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About Microsoft Canada
Established in 1985, Microsoft Canada Inc. is the Canadian subsidiary of Microsoft Corporation (Nasdaq “MSFT”) the worldwide leader in software, services and solutions that help people and businesses realize their full potential. Microsoft Canada provides nationwide sales, marketing, consulting and local support services in both French and English. Headquartered in Mississauga, Microsoft Canada has nine regional offices across the country dedicated to empowering innovation, prosperity and security through great software – any time, any place and on any device. For more information on Microsoft Canada, please visit www.microsoft.ca
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