September 22, 2021

81 Bay Street Office Tower at Toronto’s Highly Anticipated CIBC SQUARE is Fully Leased

Toronto’s New 1.5 million-Square-Foot Office Tower will House Canada’s Top Talent

TORONTO, September 22, 2021 – CIBC SQUARE, Toronto’s innovative office complex by Ivanhoé Cambridge and Hines, today announced the 81 Bay Street tower is fully leased. The complex’s world-class office tower has secured final leases with the Business Development Bank of Canada (BDC), Pollara Strategic Insights and CRIMSON Asset Management. When completed, the two 49 and 50-storey class-AAA buildings will total approximately 3 million square feet.

Previously announced 81 Bay Street tenants include CIBC, Microsoft Canada, Boston Consulting Group, AGF Investments, and more. CIBC is the lead office tenant of CIBC SQUARE with a combined approximately 1.65 million square feet across both towers.

“This is an extraordinary milestone for CIBC SQUARE, especially given the unprecedented challenges the COVID-19 crisis has created. We believe it is a true testament to how CIBC SQUARE’s differentiated and highly experiential offering speaks to Toronto’s top-tier companies, and to our shared vision that safe and engaging office space continues to be relevant in a business world where talent engagement, retention and development continue to fuel company growth,” said Jonathan Pearce, Executive Vice President, Leasing & Development, Office, North America at Ivanhoé Cambridge. “We are thrilled to welcome BDC, Pollara Strategic Insights and CRIMSON Asset Management, alongside their employees to CIBC SQUARE where they will enjoy rich amenities and a next-generation environment.”

“Moving to such a cutting-edge and inspiring work environment, we are looking forward to creating opportunities that promote innovation and interaction for our employees and clients. CIBC SQUARE offers great amenities with an array of cultural and business events, easy access to public transit and world-class architecture,” says Paula Cruickshank, Senior Vice President, Ontario of BDC. “This complex was designed with sustainability in mind and is fully in line with our own commitment to reducing our operational footprint to net zero by 2025. Congratulations to the whole project team!”

“With the transition back to office, it is our utmost priority to ensure that our employees and clients have a safe return,” says Don Guy, Chief Strategy Officer at Pollara Strategic Insights. “The move to CIBC SQUARE brings accessibility, with the building being situated in the heart of the Financial District with several transport links ̶ including connection to the Union Station Bus Terminal.”

“Our new home at 81 Bay Street brings an exciting new chapter for CRIMSON Asset Management,” says Anthony Ferrari, Co-Founder and President of CRIMSON Asset Management. “Our employees are looking forward to accessing The Park and the variety of food & beverage options, as it is a unique space between work and home that they can use to socialize, work, host meetings, and escape from the typical office routine.”

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