Allied and RioCan Provide Office Leasing Update for The Well

Executive Summary

• Allied and RioCan announced a new lease of 124,235 sq ft at The Well (460 Front St. West) through May 31 2037, including exclusive rooftop signage rights.
• The additional leasing reduces sub‑available office space at The Well to approximately 10%, supporting the continued transformation of King West Village into a major downtown office hub.
• Allied now holds over 2.3 million sq ft of office space in King West Village, broken down by modern, heritage, and flex categories, plus more than 323,000 sq ft of retail space.

Key Details

• Lease Terms: Canadian tenant – 124,235 sq ft on floors 3‑6; lease expires May 31 2037; exclusive rooftop signage facing south on 460 Front West.
• Impact on Availability: Office space available for sublease at The Well falls to ~10% following this and other recent leasing activity.
• Allied Portfolio in King West Village:
• Total office: >2,300,000 sq ft
  • Allied Modern: 1,471,555 sq ft
  • Allied Heritage: 594,254 sq ft
  • Allied Flex: 248,916 sq ft
• Retail space: 323,027 sq ft (storefront) plus share of The Well retail.
• Strategic Context: Accelerated lease‑up at nearby Portland Commons and the new tenant will bring thousands of knowledge workers to King West Village, reinforcing its role as a core office node in downtown Toronto.

Notable Quotes

(No direct quotes were provided in the release.)