Ivanhoe Cambridge increases office and retail leasable area at
MONTREAL, March 14 /CNW Telbec/ - Driven by the success of the office component of Centropolis, Ivanhoe Cambridge, the owner, developer and manager of this prime commercial destination, is pleased to announce it is adding 50,000 square feet of office space, most of which has already been leased, to the property. TD Insurance Home and Auto will be setting up its customer service centre in a 33,000-square-foot space in October. This extra square footage brings the leasable area of the office component of Centropolis to roughly 130,000 square feet. Moreover, Ivanhoe Cambridge will also be expanding the retail leasable area by some 150,000 square feet, in response to the interest expressed by retailers in Centropolis.
"We are very happy with the success of Centropolis. The upcoming arrival of TD Insurance Home and Auto, which will be joining a lineup of renowned companies, confirms Centropolis's appeal among businesses seeking value-added space in Laval. We are particularly proud of the popularity this complex enjoys among retailers, consumers and business tenants alike," stated Jean Laramée, Senior Vice President, Eastern Region, at Ivanhoe Cambridge.
"In addition to offering our employees a pleasant workplace, our Centropolis offices will feature a range of employee-friendly facilities, including ergonomic workstations, an outdoor patio and game, lounge and exercise rooms, " said Henry Blumenthal, Vice President, Client Services, of TD Insurance Home and Auto. "This location will also provide us with access to a large pool of potential employees on the North Shore to accommodate our ongoing growth."
TD Insurance Home and Auto joins the ranks of TD Canada Trust, Invessa, Neptune Technologies, RBC Investments and other business tenants, all of which have chosen to set up operations at Centropolis.
A shopping, dining, entertainment and lifestyle destination
In addition, the vitality that has been demonstrated by Centropolis's retail component has greatly surpassed the goals set by Ivanhoe Cambridge and retailers themselves. In the coming months, Clément, Hugo Boss Woman and TD Canada Trust will complement the existing mix of retailers and businesses.
The office and retail employees benefit from the undeniably urban, dynamic and exceptional workplace and lifestyle. The site is enhanced by a magnificent central square, where the fountains that enliven the summertime atmosphere are replaced by a spectacular outdoor skating rink in the winter for people of all ages to enjoy. All in all, those who work or spend their leisure time at Centropolis can find everything they need to meet their shopping, dining and entertainment needs, as well as an ultra-modern workplace - all of which help make it a true lifestyle centre in the heart of Laval.
The next few months will see an expansion of Centropolis's parking facilities, enhancements to the site's main thoroughfare and access points and the installation of wayfinding signage intended to give Centropolis an even more user-friendly, downtown feel - thus further reinforcing the distinctiveness of this destination in its market. In addition, Ivanhoe Cambridge is currently negotiating an agreement to sell a portion of the land to a third party for the purposes of building a hotel.
Once completed, the site will boast some 800,000 square feet of leasable area and will have required a total investment of over $200 million.
Since it was opened in 2000, Centropolis - which is owned, developed and managed by Ivanhoe Cambridge - has been a vibrant, bustling complex 24/7, with a unique mix of specialty stores and businesses, exclusive restaurants, a movie theatre, a fitness centre and offices occupied by a number of high-profile tenants. The complex's magnificent central square features fountains that enliven the summertime atmosphere and a spectacular outdoor rink in the winter, where people of all ages can skate to their hearts' content. Occupying some 3.5 million square feet in the heart of Laval's thriving economic hub, Centropolis is a truly unique shopping, dining, entertainment and lifestyle destination. Its anchor tenants include Cineplex's Colossus movie theatre, Énergie Cardio and La Cordée. The Centropolis Website is at www.centropolis.ca.
About Ivanhoe Cambridge
Ivanhoe Cambridge is a pre-eminent Canadian-based global property owner, manager, developer and investor, focusing on high-quality shopping centres located in urban areas. Beyond its strong Canada-wide presence, the Company is also active in the United States, Brazil and Europe, where it owns a number of properties either by itself or through joint ventures with prominent real estate partners. Abroad, Ivanhoe Cambridge also holds an interest in several shopping centre development and management companies and maintains offices in Europe and Asia.
Its real estate portfolio consists of almost 46 million square feet of retail space and includes some 70 regional and super-regional shopping centres. As at December 31, 2006, the market value of Ivanhoe Cambridge's assets reached CAD $12.2 billion.
Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is a principal real estate subsidiary of the Caisse de dépôt et placement du Québec, one of the largest institutional fund managers in Canada. Amongst its shareholders, the Company also counts four prominent Canadian pension funds. The Company's Internet address is www.ivanhoecambridge.com.
SOURCE Ivanhoé Cambridge
For further information: For further information: Nancy Defoy, Senior Advisor, Communications and Public Affairs, Ivanhoe Cambridge, (514) 841-7792, email@example.com