- What The consumer goods company is leaving 4711 Yonge Street
- Why The 90,000 sq ft block is available in February 2025
- What next CBRE has the marketing assignment
Procter & Gamble is vacating its namesake Toronto office building.
The consumer goods company is downsizing from its 90,000 sq ft office at 4711 Yonge Street. CBRE is marketing the concourse, ground floor and second floor block at the Yonge and Sheppard tower, which is owned by Menkes. P&G declined to comment on its move.
While pricing for the P&G office space was not available, the asking net rent for the 15th floor is $21/sq ft, on par with the average for the North Yonge submarket. Additional rent for the 23,000 sq ft space is $23.61/sq ft. Suite 902, at 17,000 sq ft, asks the same.
As of the end of Q1, the office vacancy rate in the North York submarket was 24.7%, higher than the Toronto North average of 19.3%.
The P&G block is available as of Feb, 1, 2025, and podium signage is offered. The space is being marketed towards life sciences companies and data centre operators. It offers 25 watts of power per sq ft.
The 16-storey, Class-A office tower was built in 1987. It’s LEED platinum certified and has seven elevators, car-charging stations and a café.
One underground unreserved parking space is available per 1,000 rentable sq ft. Highway 401 and six GO Bus routes are nearby, and there is direct underground access to the Yonge-Shephard subway station.
Procter & Gamble owns home, health and personal care brands including Tide, Gilette and Pantene. Geraldine Huse is the president of P&G Canada.
