CN will be relocating its head office to
Kevric's latest redevelopment in downtown Montreal
MONTREAL, May 9, 2024
/PRNewswire/ - CN (TSX: CNR) (NYSE: CNI) and Kevric jointly
announced today that CN will relocate its headquarters to Kevric's
600 DLG project, located at 600 De La Gauchetière West. The 20-year
lease begins in 2028 and covers the building's first 18 floors,
totaling more than 440,000 square feet. CN will start moving
certain departments as of 2026.
''CN has been part of downtown Montreal's DNA for over 100 years. Maintaining
our headquarters' presence in the city's core is integral to our
identity. Our employees are our greatest competitive advantage and
we were careful in choosing our new headquarters. We want to keep
inspiring greater innovation and collaboration in a workplace that
will nurture our employees' growth.''
- Ghislain
Houle, Executive Vice-President and Chief Financial Officer,
CN
''We are proud to welcome CN's head office at 600 DLG. This
commitment by such a large organization confirms the importance of
efficient, central work environments for corporations. We firmly
believe in the crucial role of high-quality downtown office
buildings in sustaining downtown Montreal's role as an economic engine. 600 DLG
is the latest example of this conviction, and its transformation
showcases our proven expertise in executing complex and visionary
projects.''
- Richard
Hylands, President & Founder, Kevric
About 600 DLG
Kevric is undertaking this
transformation by applying the best practices in sustainable
development. From the outset of the design process, the project
focused on its environmental footprint to minimize and ultimately
offset its embodied carbon emissions. The renovation also aims to
reduce the building's annual operational environmental footprint to
deliver a fully carbon-neutral office building in downtown
Montreal. 600 DLG is the prime
address for organizations that have fighting climate change as a
corporate priority.
Located in the Quartier international de Montréal, the tower's
thorough transformation will provide CN employees with a
state-of-the-art, performance-focused work environment. In this
highly sought after downtown business district, CN's head office
will stand alongside those of other major international
organizations, all benefiting from the evolving mixed-use dynamism
of the area. The iconic building north of Square Victoria will
feature the CN logo, and a new name to be chosen by the North
American transportation leader.
The complete redevelopment of the tower will provide a
next-generation work environment to its occupants. Its building
envelope is being entirely replaced to feature larger windows and a
new architectural signature. This will provide the floors with
panoramic views, more natural light and better energy efficiency.
The integration of touchless access technologies, motion-sensing
lighting controls and automated window shades will ensure the
state-of-the-art workspaces allow organizations and their teams to
focus on exceeding their business objectives, developing innovative
new opportunities and nurturing their corporate culture.
The new main entrance, under construction at the De La
Gauchetière W. and Beaver Hall intersection, will be integrated
with a modernized Square Victoria entrance to reconnect the tower
with the surrounding area. Forming a new architectural atrium,
these entrances will add to 600 DLG's unparalleled connectivity,
which includes direct interior access to the Square Victoria - OACI
metro station and to Montreal's
underground pedestrian network (RÉSO), frontage on the Express Bike
Network (EBN), proximity to the REM's Gare Centrale station, and
fluid connections to downtown's main traffic arteries.
The relocation of CN's head office to 600 De La Gauchetière W.,
adds to the building's existing tenants (Raymond Chabot Grant Thornton, Logistec and
Alten Canada), bringing the office
tower's occupancy rate over 80%, leaving only the tower's five
top-floors, known for their panoramic views, as still
available.
About CN
CN is a world-class transportation leader and
trade-enabler. Essential to the economy, to the customers, and to
the communities it serves, CN safely transports more than 300
million tons of natural resources, manufactured products, and
finished goods throughout North
America every year. CN's network connects Canada's Eastern
and Western coasts with the U.S. South through an 18,800-mile rail
network. CN and its affiliates have been contributing to community
prosperity and sustainable trade since 1919. CN is committed to
programs supporting social responsibility and environmental
stewardship.
About Kevric
Over the years, Kevric Real Estate
Corporation has established itself as a leader in the Canadian real
estate sector. Its ever-growing presence in the Montreal, Toronto and the National Capital regions has
positioned it among the top commercial real estate developers,
private owners, and property managers in Canada. Kevric holds solid expertise in
complex and visionary transformation projects: the firm stands out
for its bold and entrepreneurial approach to tackling major
challenges. Kevric's expertise in identifying, acquiring, and
repositioning properties has allowed it to create multiple
first-class assets, thereby generating significant returns for its
partners. Through its iconic projects, notably 600 DLG, the Air
Canada Tower and Place Bonaventure, Kevric is firmly anchored in
the Quartier international de Montréal business district.
Kevric provides specialized services in redevelopment and
ground-up development, property & asset management, leasing,
and project financing. It currently owns and manages properties in
the Greater Toronto Area and
downtown Montreal.
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SOURCE Kevric Real Estate Corporation
