Shopify will invest up to $500-million in new Toronto office

Posted : October 5, 2018

Fast growing e-commerce platform Shopify Inc. says it will invest as much as half-a-billion dollars into its forthcoming Toronto office, in a large downtown development where it plans to house thousands of new employees.

The Ottawa-based company’s neon-green shopping-bag beacon is expected to top the 38-storey skyscraper at the corner of Front Street West and Spadina Avenue when The Well complex, jointly owned by Allied Properties REIT and RioCan REIT, opens in 2022. Shopify’s investment and its anchor-tenant logo rights are part of a 15-year deal that Michael Scace, who brokered the transaction, said is one of the biggest-ever completed in the King West market on the edge of Toronto’s downtown core.

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Shopify will invest up to $500-million in new Toronto office
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