Just west of Toronto’s financial district, King Street will in three years be home to an office, retail, and residential site known as King-Portland Centre.
Ottawa-based ecommerce titan Shopify has committed to being the anchor tenant, taking up more than 100,000 square feet—or over 40% of the centre’s total space—according to CTV News.
Two Toronto-based real estate trusts, Allied Properties and RioCan, are redeveloping the property.
Shopify, which went public last year, is rumoured to be a target of Google.
For the full year 2016, Shopify currently expects revenues in the range of $320 million to $330 million and a GAAP operating loss in the range of $36 million to $42 million.