MISSISSAUGA, ON, Aug. 27 /CNW/ - Bentall Capital, on behalf of its
client, the British Columbia Investment Management Corporation (bcIMC), has
announced the successful completion of a long term lease agreement with Maple
Leaf Foods for the development of a second new office building and Food
Innovation Centre in Meadowvale North Business Park.
Mayor Hazel McCallion stated, "We at the City of Mississauga are thrilled
that Maple Leaf has chosen to continue to grow in Mississauga for this
first-class office and food innovation centre. The City of Mississauga is a
terrific place to live and work and we are excited to see that the Meadowvale
North Business Park continues to attract and grow with strong, high profile
companies like Maple Leaf."
Located on Financial Drive, the project will consist of a five-storey,
150,000-square-foot office building and will also be the location for a new
Food Innovation Centre, which Maple Leaf announced in April 2007. The food
centre will help accelerate Maple Leaf's leadership in innovation, which is
fundamental to broadening and deepening its customer relationships and
achieving its financial goals. It will provide a powerful catalyst to drive
new product development, resulting in a focused and profitable stream of
innovations that build on the company's strengths as a value-added meats and
meals and bakery company. Maple Leaf plans to invest approximately $12 million
in the food centre.
The building has been registered under the USGBC LEED(TM) certification
program for Core & Shell and is expected to be certified at the Silver Level.
The Leadership in Energy and Environmental Design (LEED) Green Building Rating
System(TM) is the nationally accepted benchmark for the design, construction,
and operation of high performance green buildings. Construction will commence
immediately with completion scheduled for early 2009.
"We are very happy to have been able to accommodate the office growth and
this mission critical use in the Meadowvale North Business Park. The
combination of ease of access to their initial facility, excellent overall
park location and amenities for employees and visitors, and the complete
satisfaction with the landlord and Bentall as their current property manager
and developer, led to Maple Leaf growing again with us, almost 2 years to the
day from our last successful design build lease," said Stuart Wanlin,
Bentall's EVP for Eastern Canada.
Chuck Swanson, bcIMC's Vice President of Real Estate commented, "We take
pride in securing the lease agreement with Maple Leaf Consumer Foods as well
as the fact that this building will be developed according to LEED Silver
standards, ensuring the promotion of sound environmental practice and
The project is designed by Adamson Associates Architects from Mississauga
and will be constructed by Ellis-Don. JJ Barnicke provided consulting and
brokerage services on behalf of Maple Leaf Foods for this transaction. Bentall
Real Estate Services LP and TAC Project Management played an integral role in
the completion of this transaction and Bentall Real Estate Services will be
the development manager for the project and the property manager upon
Maple Leaf Foods Inc. is a leading Canadian food processing company
committed to delivering quality food products to consumers around the world.
Headquartered in Toronto, Canada, the Company employs approximately 24,000
people at its operations across Canada and in the United States, Europe and
Asia. For more information, visit www.mapleleaf.ca.
Bentall Capital LP is the leading real estate advisory and property
services organization in Canada, with significant and growing operations in
the US Pacific Northwest, Midwest, and Southern California.
Bentall serves major institutional and private investors - supplying a
range of asset management, property management, leasing and development
services to over 100 clients representing $15 billion currently invested in
real estate. This portfolio of more than 600 buildings consists of over
79 million square feet of office, industrial and retail properties, as well as
approximately 5,000 multi-family residential units.
Bentall is jointly owned by senior management, bcIMC and SITQ, an
affiliate of CDP Capital. For more information, visit www.bentall.com.
British Columbia Investment Management Corporation (bcIMC) is an
investment management corporation based in Victoria, BC. With over $85 billion
in assets under administration with global exposure, and supported by
industry-leading investment expertise, bcIMC offers fund management services
for all major asset classes, including currency and infrastructure investment.
bcIMC's clients include public sector pension plans, provincial government,
public trusts, and insurance funds. For more information, visit www.bcimc.com.
For further information:
For further information: Stuart Wanlin, Executive Vice President,
Bentall Real Estate Services LP, Toronto, (416) 674-3576, email@example.com