MEG energy Corp. needs less than 1/2 the office space it is
at the hook for in downtown Calgary after it paused its formidable increase
plan ultimate year.
MEG, which currently moved its headquarters into a newly
constructed office tower, has hired JLL business real property to sublet
307,000 rectangular ft of space it not needs. the gap is unfold between its new
office, in which MEG is trying to sublease six flooring, and its vintage
workplace, where the company is seeking to sublet nine floors.
The oilsands manufacturer did now not reply to a request for
remark, but the move follows similar attempts by using competing electricity
groups to dump useless office area and the city’s downtown emptiness price has
now jumped to 19.5 per cent, consistent with Barclay road real property
estimates.
more and more office space in Calgary is sitting empty as
oil and gas agencies lay off body of workers to survive the continued oil rate
fall apart.
Cenovus strength Corp. president and CEO Brian Ferguson
showed to the economic put up within the first quarter that the employer is
weighing its alternatives and trying to sublease area it doesn’t need downtown.
Cenovus is poised to move into a new office tower called
Brookfield region, so that it will eclipse the Bow, Cenovus’ current
headquarters, because the tallest in Calgary whilst it is entire. The agency
also has rentals at different office towers downtown.
MEG had signed a lease for more or less 300,000 rectangular
toes earlier than oil expenses had collapsed, whilst the company became still
growing its headcount every yr. among 2010 and 2014, the employer greater than
doubled its headcount from 270 employees to 685 personnel.
The organization laid off approximately 70 people over the
direction of the oil charge rout in 2015, and is now seeking to cut back its
workplace area again to the scale it become, about 197,000 square feet, before
the fall apart commenced.
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