print header

# 1 Commercial Real Estate Information Company

  • Find Properties 
  • Market Properties 
  • Analyze Properties 
Products
Commercial Real Estate News

Microsoft Canada Moving National Headquarters to CIBC Square in Downtown Toronto

Technology Giant Investing $570 Million in Canada With Plans to Hire 500 More Full-Time Employees
September 11, 2018
Microsoft Canada is moving its national headquarters to downtown Toronto's CIBC Square, a move the company says is part of an overall expansion in the country.

Montreal-based Ivanhoé Cambridge and Houston-based Hines said Tuesday they had signed Microsoft to a 132,000-square-foot lease covering over four floors at 81 Bay St. with the technology giant taking occupancy in September 2020.

Comprising three million square feet of office space, the complex in the south core will be made up of two towers. The first at 81 Bay St. will total 1.6 million square feet over 49 stories, and is scheduled to deliver in the first half of 2020.

Microsoft, which has maintained a headquarters in Canada since 1985, will be joined by CIBC and The Boston Consulting Group, a management consulting firm that signed a lease last July to occupy 85,000 square feet in the tower for its Canadian corporate offices. Microsoft Canada currently has its headquarters in Mississauga, Ontario.

"The facility is just one of a series of significant investments Microsoft is making. These investments will enable an expansion of Microsoft's Canadian operations, including increasing staff, modernizing its real estate and growing its research lab in Montreal that is focused on artificial intelligence," the company said in a release.

"By relocating our headquarters to 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," said Kevin Peesker, president of Microsoft Canada, in a statement.

Microsoft said it employs more than 2,300 people across Canada and intends to grow its staff by more than 500 full-time employees, with an additional 500 co-ops/internships by 2022.

The company will invest more than $570 million in the next three years in fixed assets in Canada, including the relocation and expansion of its research and development lab in Montreal, relocation of its Vancouver sales office, renovation and redesign of its Ottawa, Calgary and Montreal sales offices, and the relocation of its Canadian headquarters.

Garry Marr, Toronto Market Reporter  CoStar Group   

GET IN TOUCH        Contact CoStar News Team:   News@CoStar.com

 Find us on 

Welcome To CoStar's
Industry-Focused,
Award-Winning News

Winner of three Journalism Awards from the National Association of Real Estate Editors (NAREE)

Award-Winning News