Business
Morguard Completes Acquisition of Premier Class A Office Complex in Downtown Ottawa, Ontario
Morguard Completes Acquisition of Premier Class A Office Complex in Downtown Ottawa, Ontario ...
About this update from Morguard Corporation
[{"type":"text","content":"\n \n \n \n Morguard Completes Acquisition of Premier Class A Office Complex in Downtown Ottawa, Ontario\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Morguard acquired a 50 percent freehold interest in 215 Slater, built in 2007 to house the\n \n Ottawa\n \n headquarters for Telus Communications Inc.\n \n \n \n \n \n MISSISSAUGA, ON\n \n \n ,\n \n \n Jan. 9, 2023\n \n \n /CNW/ - Morguard Corporation (TSX: MRC) (\"Morguard\") recently acquired a 50 percent interest in a Class A office building located at 215 Slater Street from a Canadian institutional investor. The property is situated in a high profile, prominent, corner position in\n \n Ottawa's\n \n central business district.\n \n \n \"\n \n Downtown Ottawa\n \n is one of\n \n Canada's\n \n most stable office markets thanks to the large presence of the federal government, combined with a sizable yet growing technology sector and limited future supply of new office construction,\" said\n \n Michael Swan\n \n , Assistant Vice President, Property Management and Leasing Office & Industrial,\n \n Ottawa\n \n . \"This is a highly coveted property with an exceptional tenant in a premium location. 215 Slater will provide additional stability and upside to our already expansive\n \n Ottawa\n \n portfolio.\"\n \n \n Purpose built in 2007 to house the\n \n Ottawa\n \n headquarters for Telus Communications Inc., the nine-storey, 109,208 square foot building features an attractive design, high quality construction materials and finishes, and modern efficiencies with LEED-Gold certification. The property is situated within a short walk to Parliament Hill and\n \n Ottawa's\n \n transportation network. In addition to acquiring a joint venture ownership interest in 215 Slater, Morguard assumes asset and property management, adding to its Class A office assets in\n \n Ottawa's\n \n central business district, which includes 150 Elgin Street. This investment represents the continued expansion of our office portfolio.\n \n \n Morguard's total office portfolio includes 12.0 million squ...