CALGARY, ALBERTA--(Marketwire - Sept. 21, 2012) - The Cadillac Fairview Corporation Limited announced last night the signing of a lease agreement with Inter Pipeline for 140,000 square feet in Calgary City Centre, which recently commenced construction.
"We are delighted that Inter Pipeline has chosen Calgary City Centre as its base of operations," said Wayne Barwise, Executive Vice President, Development, Cadillac Fairview. "This reaffirms our belief that Calgary City Centre will become a pre-eminent address for the energy sector in Western Canada."
Inter Pipeline is a major petroleum transportation, natural gas liquids extraction, and bulk liquid storage business based in Calgary, Alberta. Inter Pipeline owns and operates energy infrastructure assets in Western Canada, the United Kingdom, Denmark, Germany and Ireland.
"Calgary City Centre will provide our employees and corporate visitors with an exciting new office environment," said David Fesyk, President and CEO, Inter Pipeline. "With its innovative design, prime location and leading-edge construction standards, Calgary City Centre will be a welcome addition to the city's downtown skyline."
Cadillac Fairview also recently confirmed that the office tower will be built to LEED® Platinum Core and Shell Certification, making it the first major commercial office tower in Western Canada to be built to this level of certification.
Calgary City Centre is a mixed-use development of approximately 1,620,740 square feet covering a full city block of 3.2 acres, located at 2nd Street SW and 3rd Avenue SW. Phase 1 of the complex comprises premium AA office tower of 853,032 square feet with a retail podium and five levels of underground parking with 632 stalls.
Phase 2 comprises a retail podium, residential, dining, and hotel facilities and is to be developed at a later date. The project integrates four city blocks with three indoor pedestrian bridges (referred to as "Plus-15") which connect Calgary City Centre to Livingston Place, Jamieson, Place, and Devon Tower (formerly Canterra Tower).
With strong interest and demand from oil and gas companies, the demand for AA office space with state-of-the-art technology and efficiencies exceeds the current supply. The Calgary City Centre project reinforces Cadillac Fairview's commitment to expanding and diversifying their tenant base.
About Cadillac Fairview
The Cadillac Fairview Corporation Limited is one of North America's largest investors, owners and managers of commercial real estate. For more than 50 years Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management.
Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $20 billion, Cadillac Fairview and its affiliates own and manage nearly 47 million square feet of leaseable space at 83 properties across North America, including some of Canada's landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre and Chinook Centre.