Shopify, the Ottawa-based e-commerce platform has abandoned its plans to move into offices at The Well, a high-profile mixed-use complex in Toronto.
The e-commerce platform has a lease on 254K SF of office space at the retail, office and residential building at King Street West and Spadina Avenue—with an option to occupy an additional 434K SF—in a lease deal that runs until March 2037.
According to a report in the Toronto Star, Shopify—like several US-based tech giants—is adjusting its office footprint as economic headwinds intensify.
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