Google is in talks to sign a lease at a new office development located in downtown Toronto, as reported by the Financial Post.
The site, owned by Carttera Private Equities, is located at 65 King St. East and is near the financial district. The location features 400,000 square feet of working space, and overlooks Lake Ontario.
It is still unclear how much of the space the company will use. The leasing agreement is currently being handled by CBRE Group Inc.
As financial services firms and tech companies make their way into Toronto, office markets are in high demand, according to the Financial Post.
In the first quarter of this year, there was a 1.9 percent vacancy rate in the downtown Toronto office market, according to real estate company Avison Young.
Source: Financial Post