The 31k SF of heritage space at QRC West occupied by Arc Productions—which went into receivership this month—has been assigned to the subsidiary of a global content creator, says building owner Allied Properties REIT. The assignee is obligated to reassign the lease to Allied next July, which in turn expects to reassign the lease to multiple tenants—including an at-grade retailer—at higher rents than currently stipulated in the lease. Allied also plans to assign the lease of Arc’s non-heritage space at 134 Peter St (26k SF) to “one or more” of the interested replacement tenants, maintaining current rent levels. QRC remains 97% leased.
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