Brookfield Signs Osler, Hoskin & Harcourt for a 15-Year Lease Renewal at First Canadian Place
19 January 2012 - 9:06AM
Marketwired
Brookfield Office Properties Canada (TSX: BOX.UN) (NYSE: BOXC)
announced today that it executed a lease renewal with Osler, Hoskin
& Harcourt, LLP at First Canadian Place (FCP) in the centre of
Toronto's business district. The 15-year lease agreement, totaling
191,000 square feet, continues Osler's occupancy at FCP since 1977.
"Brookfield and our partners at FCP are proud to continue our
long-standing relationship with Osler, who shares our vision to
redefine sustainability and operational efficiency at this iconic
property," said Jan Sucharda, president and chief executive officer
of Brookfield Office Properties Canada. "First Canadian Place's
renovation will transform this classic Toronto landmark and
redefine its position as the country's premier address for business
and pleasure."
"Osler is very pleased to resume its stay at First Canadian
Place, which has been our home in Toronto for 35 years," said Dale
Ponder, National Managing Partner of Osler, Hoskin & Harcourt,
LLP. "We share the same operational philosophy with Brookfield. It
strives to run its buildings for its clients in the way we strive
to conduct our law practice for our clients -- with innovation,
solution-oriented methods and a cost-effective imperative."
Brookfield is currently investing more than C$100 million to
renovate the exterior and interior of First Canadian Place,
Canada's tallest office tower. FCP's façade has been completely
re-clad with bright white laminated fritted glass and bronze glass
corner panels creating a glimmering new architectural identity. The
newly designed common areas will combine modern aesthetics with
urban elegance. The renovation also includes sustainable elements
that will meet the requirements for LEED certification. The entire
project will be completed by the end of 2012.
First Canadian Place is a 72-storey office and shopping complex
that houses 10,000 office employees and records a daily pedestrian
traffic of 84,000 people. FCP serves as a modern-day town square
for Toronto's downtown business community. It offers the ideal
venue for people to mix business with pleasure.
Brookfield Office Properties Canada owns, manages and operates
nearly 11 million square feet in the Toronto market. In addition to
the 2.8-million-square-foot First Canadian Place, Brookfield's
properties include Brookfield Place and the Bay Adelaide
Centre.
About Brookfield Office Properties
Canada
Brookfield Office Properties Canada is Canada's preeminent Real
Estate Investment Trust (REIT). Its portfolio is comprised of
interests in 28 premier office properties totaling 20.7 million
square feet in the downtown cores of Toronto, Calgary, Ottawa and
Vancouver. Landmark assets include Brookfield Place in Toronto and
Bankers Hall in Calgary. For more information, visit
www.brookfieldofficepropertiescanada.com.
Forward-Looking Statements This press
release contains forward-looking statements and information within
the meaning of applicable securities legislation. Although
Brookfield Office Properties Canada believes that the anticipated
future results, performance or achievements expressed or implied by
the forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
because they involve assumptions, known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the trust to differ materially from
anticipated future results, performance or achievement expressed or
implied by such forward-looking statements and information.
Accordingly, the trust cannot give any assurance that its
expectations will in fact occur and cautions that actual results
may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from
those set forth in the forward-looking statements and information
include, but are not limited to, general economic conditions; local
real estate conditions, including the development of properties in
close proximity to the trust's properties; timely leasing of
newly-developed properties and re-leasing of occupied square
footage upon expiration; dependence on tenants' financial
condition; the uncertainties of real estate development and
acquisition activity; the ability to effectively integrate
acquisitions; interest rates; availability of equity and debt
financing; the impact of newly-adopted accounting principles on the
trust's accounting policies and on period-to-period comparisons of
financial results; and other risks and factors described from time
to time in the documents filed by the trust with securities
regulators in Canada, including in the Annual Information Form
under the heading "Business of Brookfield Office Properties Canada
- Risk Factors," and in the trust's most recent interim report
under the heading "Management's Discussion and Analysis." The trust
undertakes no obligation to publicly update or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, except as required by
law.
Contact: Matthew Cherry Director, Investor Relations and
Communications (416) 359-8593 Email Contact
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