CIBC SQUARE's 141 Bay Street Achieves Full Lease-Up in Downtown Toronto

TORONTO — The 50-storey office tower at 141 Bay Street in downtown Toronto has reached full occupancy, La Caisse and Hines announced, completing the two-tower CIBC SQUARE campus.

The 1.5-million-square-foot tower is now fully leased to a roster of tenants including CIBC, Business Development Bank of Canada, AGF, Boston Consulting Group, and Microsoft.

CIBC SQUARE Campus

The CIBC SQUARE campus, developed by La Caisse — the investment arm of the Caisse de dépôt et placement du Québec — and global real estate firm Hines, comprises two towers totaling 3 million square feet at the corner of Bay and Front Streets, adjacent to Union Station. The first tower, 81 Bay Street, opened in 2021 and is also fully leased.

The National Pension Service of Korea (NPS) holds a 45% equity stake across both CIBC SQUARE towers.

Otera Capital

Otera Capital is La Caisse's real estate debt subsidiary and is among the entities connected to the broader La Caisse real estate platform that encompasses CIBC SQUARE.

Transit Connectivity

CIBC SQUARE has a direct, enclosed connection to Union Station and integration with Toronto's underground PATH network. The complex also features The Park at CIBC SQUARE, described as Toronto's only elevated park built on public infrastructure, along with conference facilities and fitness centers.

No financial terms, including transaction price, loan amounts, or rental rates, were disclosed in connection with the lease-up announcement.

Sources

La Caisse — CIBC SQUARE's 141 Bay Street achieves full lease-up in downtown Toronto (Feb. 15, 2026)