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TORONTO, April 29, 2020 /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the "REIT") is pleased to announce it has been awarded the BOMA 360 Performance Certification at 101 McNabb Street, Markham, Ontario ("101 McNabb"), an office property comprising approximately 315,000 rentable office square feet.
BOMA 360 Performance Program sets the standard worldwide for operational best practices in the commercial real estate industry. Earning the prestigious BOMA 360 label demonstrates that a building is outperforming its competition across all areas of operations and management. The BOMA 360 program evaluates buildings against industry best practices in six major areas of building operation: building operations and management; life safety, security and risk management; training and education; energy and environmental/sustainability; and tenant relations/community involvement.
The REIT, together with its asset manager, Starlight Investments, undertook several initiatives including:
- improving indoor air quality ("IAQ");
- conducting I-BEAM audits which included several no-cost or low-cost measures which were identified and implemented; and
- incorporating an IAQ management program as part of preventative maintenance.
The outdoor air ventilation at 101 McNabb also met ASHRAE 62.1-2007 requirements and all cleaning equipment and products used on-site satisfied the green cleaning requirements. This certification represents the culmination of the REIT's efforts to improve tenant experience with an environmental focus.
"Management of the REIT is committed to reducing the carbon footprint of our buildings for the benefit of both the environment and our tenants," said the REIT's President and Chief Executive Officer, Daniel Drimmer. "We appreciate the assistance from our property management team, Crown Property Management Inc., in order to attain the BOMA 360 Performance Certification at 101 McNabb which reflects our commitment to sustainability and tenant satisfaction."
About 101 McNabb
101 McNabb is a state-of-the art office campus comprised of two connected three-storey office buildings. 101 McNabb has achieved LEED Gold, BOMA Best Platinum and BOMA 360 certifications and is the recipient of the 2019 TOBY Award for The Outstanding Building of the Year in the Renovated Building category. 101 McNabb has approximately 315,000 rentable square feet and has a market-leading parking ratio of 5.1 parking stalls per 1,000 square feet with 1,609 parking stalls. Situated on 29.1 acres, 101 McNabb is ideally located between Highway 407 and Steeles Avenue and offers excellent access via Highways 7, 404 and 407 as well as direct bus access to the GO train and subway systems. 101 McNabb is surrounded by numerous retail amenities, including restaurants, grocery stores, and shopping malls. 101 McNabb offers additional distinct amenities including a full-service kitchen, fitness centre and an outdoor lounge area. With a weighted average remaining lease term of 6.4 years, the building is 100% occupied by The Toronto-Dominion Bank and General Motors of Canada Company.
About the REIT
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 49 properties consisting of approximately 4.8 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.
SOURCE True North Commercial Real Estate Investment Trust
For further information: Daniel Drimmer, President and Chief Executive Officer, (416) 234-8444 or Tracy Sherren, Chief Financial Officer, (416) 234-8444