TORONTO, Jan. 17, 2017 /CNW/ - Indigo (TSX:IDG) today announced they've signed a long term commitment to lease with Allied Properties REIT and RioCan REIT for the relocation of their Corporate Home Office to an exciting mixed-use development currently under construction at King Portland Centre, located at 602-620/642 King Street West, Toronto.
Located less than half a kilometre west of the Company's current corporate office, the Indigo Home Office will comprise close to 80,000 square feet over four floors of the new development, enhancing their current Indigo Corporate Office space by close to 15,000 square feet, with an expected occupancy in early 2019.
According to Heather Reisman, Indigo's Founder and CEO, "Indigo has been located at King and Spadina since April of 1999 and we've enjoyed our many years as a tenant of Allied Properties. We look forward to our continuing relationship as we move to a larger space in what will be an outstanding new building. We're happy to be able to stay in this burgeoning, creatively driven, and energetic neighbourhood."
The office and retail components of King Portland Centre have been designed to a LEED (Leadership in Energy and Environmental Design) CS (Core & Shell) Platinum standard and will include best-in-class operational, environmental, life-safety and health and wellness systems. Construction commenced earlier this month with site mobilization and preparation for excavation.
Statements contained in this news release that are not historical facts are forward-looking statements which involve risk and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements. Among the key factors that could cause such differences are: general economic, market or business conditions in Canada; competitive actions by other companies; changes in laws or regulations; and other factors, many of which are beyond the control of the Company.
About Indigo Books & Music Inc.
Indigo is a publicly traded Canadian company listed on the Toronto Stock Exchange (IDG). As the largest book, gift and specialty toy retailer in Canada, Indigo operates in all provinces under different banners including Indigo Books & Music; Indigo Books, Gifts, Kids; Indigospirit; Chapters; and Coles. The online channel, indigo.ca, offers a one-stop online shop with a robust selection of books, toys, home décor, stationery, and gifts. To learn more about Indigo, please visit the Our Company section at indigo.ca.
SOURCE Indigo Books & Music Inc.
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