Large Office Tenants on Toronto’s North Yonge Corridor

Office Buildings on Yonge Street between Lawrence and Finch
A large proportion of large office tenants on North Yonge are public sector uses

The North Yonge Corridor is an office sub-market within the Toronto North market that is one of the five major office markets in the Greater Toronto Area. Also sometimes called simply “North Yonge”, it is the strip of Yonge Street that stretches from Lawrence Avenue up to just north of Finch Avenue in North York.

In the major office buildings in the North Yonge Office Node there are 724 separate tenants that occupy office space. There is a huge range of size of office tenants on North Yonge from less than 100 square feet up to more than 300,000 square feet. A company in a business centre on the North Yonge Corridor might occupy even less than 100 square feet. The average size of office tenant in a mainstream office building on this part of Yonge Street is approximately 10,000 square feet, which is larger than the typical size of office tenant in the Toronto area overall of closer to 7,000 square feet.

It might not be a surprise to learn that the largest tenants of office space are in the following industries and occupying approximate total area of office space (rounded to the nearest 50,000 square feet of office space):

Office Tenant Industry: Government
Office Space Occupied: 1,450,000 square feet of office space
Office Spaces >30,000 sf: 12

Office Tenant Industry: Financial Services (Insurance, Banking, and Investments)
Office Space Occupied: 1,450,000 square feet of office space
Office Spaces >30,000 sf: 15

Office Tenant Industry: Consumer Products
Office Space Occupied: 350,000 square feet of office space
Office Spaces >30,000 sf: 4

Office Tenant Industry: Business Services
Office Space Occupied: 350,000 square feet of office space
Office Spaces >30,000 sf: 5

Office Tenant Industry: Education
Office Space Occupied: 250,000 square feet of office space
Office Spaces >30,000 sf: 15

Office Tenant Industry: High Tech / Computer
Office Space Occupied: 200,000 square feet of office space
Office Spaces >30,000 sf: 4

Office Tenant Industry: Media
Office Space Occupied: 150,000 square feet of office space
Office Spaces >30,000 sf: 2

Office Tenant Industry: Transportation
Office Space Occupied: 100,000 square feet of office space
Office Spaces >30,000 sf: 1

Office Tenant Industry: Energy
Office Space Occupied: 100,000 square feet of office space
Office Spaces >30,000 sf: 2

Office Tenant Industry: Real Estate
Office Space Occupied: 50,000 square feet of office space
Office Spaces >30,000 sf: 1

Office Tenant Industry: Health
Office Space Occupied: 50,000 square feet of office space
Office Spaces >30,000 sf: 1

This suggests that the amount of office space occupied by large Government tenants is equal to that amount of office space occupied by large financial tenants on the North Yonge Corridor. However, if the
two public school boards (Toronto District School Board and the Toronto Catholic District School Board), the Toronto Transit Commission, and Toronto Hydro (a utility heavily regulated, controlled by government) are added to the amount of office space, then government and government-controlled office uses represent the greatest number of major office tenancies in the North Yonge Market. And, public sector office space is about 42% of office space occupied by the largest 50 office tenants in office buildings on Yonge Street from Finch Avenue to Lawrence Avenue.

The 50 largest office tenants on North Yonge are clustered around the intersections of main surface roads over subway stations as follows:

Intersection: Yonge Street and York Mills Road
Subway Station: York Mills Station
Office Tenants: KPMG, RBC Financial Group, Ontario Lottery and Gaming Corporation, SFBC Anafarm, NexJ Systems Inc., SAP Canada Inc., Voxdata
Office Buildings: 4100 Yonge Street, 4120 Yonge Street (Yonge Corporate Centre), 10 York Mills Road, 20 York Mills Road, 4101 Yonge Street (York Mills Centre)

Intersection: Yonge Street and Sheppard Avenue East/West
Subway Station: Yonge-Sheppard Interchange Station
Office Tenants: Eckler Ltd., Intercon Security Limited, Proctor & Gamble Inc., Nestle Canada Inc., Cadbury Adams Canada Inc., H.J. Heinz Company of Canada Ltd., Toronto Catholic District School Board, Shell Canada Limited, Transamerica Life Canada, Bank of Montreal, AON Hewitt, Franklin Templeton Investments, BMO Financial Group, Standard Life Assurance Company, Canadian Government, Government of Ontario, Alcohol & Gaming Commission of Ontario, Canadian Mortgage & Housing Corporation, Transcontinental Media Inc., Warner Brothers Canada, Minto
Office Buildings: 110 Sheppard Avenue East, 40 Sheppard Avenue West, 4711 Yonge Street (P&G Building), 25 Sheppard Avenue West (Nestle Building), 5000 Yonge Street (Transamerica Life Building), 90 Sheppard Avenue East, 80 Sheppard Avenue East, 2 Sheppard Avenue East, 4881 Yonge Street (Sheppard Centre), 100 Sheppard Avenue East, 47 Sheppard Avenue East

Intersection: Yonge Street and Empress Avenue
Subway Station: North York City Centre Station
Office Tenants: Deloitte & Touche LLP, Toronto District School Board, Invesco, Capital One, RBC Financial Group, Tarion, Financial Service Commission of Ontario, Ontario Government Ministry of Children, Youth and Social Services, Toronto Transit Commission
Office Buildings: 5140 Yonge Street, 5160 Yonge Street, 5 Park Home Avenue (North York City Centre), 5050 Yonge Street, 5255 Yonge Street

Intersection: Yonge Street and Finch Avenue East/West
Subway Station: Finch Station
Office Tenants: PricewaterhouseCoopers, Toronto Hydro Corporation, Ontario Teacher’s Pension Plan Board, CIBC, Manulife Financial, intact, Government of Ontario, Xerox Canada Inc.
Office Buildings: 5650 Yonge Street, 5700 Yonge Street (North American Centre), 5775 Yonge Street, 5800 Yonge Street

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