These 7 Toronto Projects Just Won NAIOP REX Awards
NAIOP handed out the hardware at its Real Estate Excellence Awards gala Monday night, spotlighting these top GTA developments and deals:
1. Sheridan Park
Award: Office Lease Of The Year
Developer: Slate Office REIT
Deal architects: Jones Lang Lasalle, Arcturus Realty Corp
Details: The biggest suburban office deal of 2015, Slate inked SNC-Lavalin Nuclear to a 10-year, 215k SF extension at Mississauga’s Sheridan Park, where it plans a $46M redevelopment.
2. Queen Richmond Centre West
Award: Office Development Of The Year
Developer: Allied Properties REIT
Details: Designed by Sweeny &Co Architects, a tenant alongside anchor Entertainment One, the much-lauded QRC West preserved heritage structures and vaulted an 11-storey glass tower above them.
3. Escarpment Way Business Park
Award: Industrial Lease Of The Year
Developer: HOOPP
Deal architects: CBRE; Real Facilities Inc, now Savills Studley Canada (VP Paul Kay and founder and Canada lead Stan Krawitz are seen above)
Details: Real Facilities worked with Savills Studley (which acquired it earlier this year) to help US healthcare supply maker Medline Industries (expanding north), secure 250k SF at 8690 Escarpment Way in Milton.
4. 460 King St W
Award: Retail/Mixed-Use Development Of The Year
Developer: Allied Properties REIT
Details: Digital tech services firm Konrad Group has taken over the former backpackers hostel at King and Spadina, which Allied transformed into a lovely brick-and-beam tech hub. It includes Quantum Coffee.
5. 201 Westcreek Blvd
Award: Industrial Development Of The Year
Developer: Artis REIT
Details: The 301k SF industrial building, with 71k SF of office, is 100% leased to ABB Inc, the world’s largest organization of electrotechnical companies. The 31-acre site has 10 acres for additional development.
6. 70 York St
Award: Investment Deal Of The Year
Buyer: Anbang Insurance Group
Seller: Brookfield Property Partners
Deal architects: Brookfield Financial, BMO Capital Markets Real Estate Group
Details: Anbang, which has reportedly taken a stake in Vancouver’s iconic Bentall Centre, paid $110M for a land lease interest in this 17-storey LEED Gold tower, aka the HSBC Building.
7. Pan Am Games Athletes’ Village
Award: Green Development Of The Year
Developer: Dundee Kilmer Developments (a JV between Dream Unlimited and Kilmer Van Nostrand Co)
Details: The LEED Gold village, nearly complete in its conversion into mixed-use Canary District, has green roofs, electric-car charging stations and car-sharing. It also boasts Corktown Common, an 18-acre park.
