True North Commercial REIT has inked a 273k SF lease renewal with the Government of Canada at 340 Laurier Ave W in Ottawa. The government, the largest tenant in the REIT’s 1.54M SF national portfolio, is the building’s anchor, leasing 98% of the rentable area. The REIT has put 340 Laurier through extensive capital upgrades, including installing high-efficiency chillers and upgrading to LED lighting systems, retrofits that are expected to reduce energy consumption by more than 10% and earn the building LEED EB Gold certification.
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