Canadian Tire Corporation announced major retrofit of Canada Square with Oxford Properties Group and CT REIT

The redevelopment represents a combined investment of over $200 million by Canada Square co-owners Oxford and CT REIT. The partnership includes a 550,000-square-foot, 20-year office lease with CTC as the major tenant. The two office towers at 2180 and 2200 Yonge St. will be retrofitted to deliver 680,000 square feet of “highly functional and modernized office space”. The 18-storey building at 2180 Yonge St. will undergo internal upgrades and a complete façade renewal, followed by a full renovation of the adjacent 17-storey tower at 2200 Yonge St. Construction will begin in late 2025.

CTC is a Canadian retail business which operates nearly 1,700 retail and gasoline outlets under a variety of banners including its flagship Canadian Tire, SportChek, Mark’s Work Warehouse and others. CTC is the largest single tenant of Toronto-based CT REIT. CTC holds a majority interest in CT REIT.