By Brielle Scott
In the heart of Toronto’s bustling financial district, the Richmond-Adelaide Centre (RAC) has established itself as one of the city’s most significant commercial real estate assets. Owned and managed by Oxford Properties Group, this 2.4-million-square-foot office and retail complex is more than just a workplace – it’s a fully integrated environment that blends modern workspace, retail, wellness and public art into a cohesive destination.
As part of the CRE.Converge conference this week in Toronto, commercial real estate leaders from across North America toured the center, which spans five interconnected buildings – four of which are Class A and one that is considered AAA. The Oxford Properties team shared that the Toronto market enjoys a low office vacancy rate for Class A buildings, under 3%. (Also, the new term du jour for office properties? Some are calling the asset class “workplace” instead to shake some of the negative connotations of the past.)
One of the complex’s most defining advantages is its direct connection to the PATH, Toronto’s 30-kilometer underground pedestrian walkway. This link provides tenants and visitors with all-weather access to retail, dining and transit, while also driving steady daily traffic to the center – approximately 10,000 customers and visitors each day.
Oxford Properties has positioned RAC as more than just a workplace by integrating signature amenities that support productivity, wellness, and community. Among the most notable is LEVEL, Oxford Properties’ premium wellness facility that provides state-of-the-art fitness and lifestyle programming. Designed to meet the evolving expectations of today’s workforce, LEVEL contributes to RAC’s focus on employee well-being, helping to attract and retain talent for tenant companies.
The Terrace, an outdoor event and gathering space, provides a connection to nature in the dense financial core. The Terrace is anchored by Dreaming, Toronto’s largest cast stone sculpture, created by internationally renowned artist Jaume Plensa. This striking installation reinforces the role of public art in placemaking, turning RAC into not only a workplace but a cultural destination.
The Richmond-Adelaide Centre incorporates both heritage buildings and contemporary towers, carefully balancing preservation with modernization. Oxford Properties have invested a total of $650 million over a 12-year period to renovate and expand various parts of RAC, working to ensure that the Centre respects its historic roots while meeting the demands of modern office users. This blending of eras gives RAC a distinctive character in a market where new development often dominates.
In today’s competitive commercial real estate landscape, the Richmond-Adelaide Centre delivers on all fronts: a prime financial district address, direct transit and retail access, highly amenitized offerings, and a vibrant environment that fosters both productivity and community.
This post is brought to you by JLL, the social media and conference blog sponsor of NAIOP’s CRE.Converge 2025. Learn more about JLL at www.us.jll.com or www.jll.ca.
