Shopify to Anchor Upcoming King-Portland Centre in Downtown Toronto

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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.

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