Core Insights - Allied Properties Real Estate Investment Trust and RioCan Real Estate Investment Trust provided an office leasing update for The Well in Toronto, highlighting a significant leasing agreement and the overall health of the office market in the area [1][2]. Leasing Activity - A Canadian company has agreed to lease 124,235 square feet of office space at The Well, specifically on the third through sixth floors, with the lease term expiring on May 31, 2037 [2]. - The office space available for sublease at The Well has decreased to 10%, indicating a tightening market for office space [3]. Market Transformation - The leasing activity at The Well, along with the lease-up of modern office space at nearby Portland Commons, is expected to bring thousands of new knowledge workers to King West Village, enhancing its status as a core office node in downtown Toronto [3]. - King West Village is characterized as a mixed-use, amenity-rich urban neighborhood, bounded by Front, Spadina, Richmond, and Bathurst [3]. Company Profiles - Allied Properties is a leading owner-operator of distinctive urban workspace in major Canadian cities, focusing on sustainable and wellness-oriented work environments [5]. - RioCan focuses on meeting the everyday shopping needs of Canadians through the ownership and management of necessity-based and mixed-use properties, with a portfolio of 178 properties totaling approximately 32 million square feet of net leasable area as of June 30, 2025 [6].