The Exchange Lands National Bank As Anchor Tenant

The Exchange is staying true to its financial roots, with Credit Suisse having just secured National Bank as anchor tenant at the uber-green 31-storey downtown office tower, which will incorporate the old stock exchange on Howe Street.

SwissReal Group’s Nadja Gehriger, whose firm is Credit Suisse’s local project partner, tells us the team was in talks with National Bank for months, and the deal was finalized late last year. The bank will occupy 45k SF. “It is symbolic for The Exchange to secure an anchor tenant that is a financial institution,” said Nadja’s father, Franz Gehriger, head of SwissReal and the project mastermind (the pair are pictured at the site with Nadja’s daughter Ella). Franz also noted the green ties shared by The Exchange, set to be Canada’s second-tallest LEED Platinum office tower, and National Bank, ranked one of the world’s top 20 sustainable banks.

The Exchange, a $240M development, broke ground a year ago. It’s the first major project in North America that Credit Suisse has built “from the ground up,” managing director Rainer Scherwey says. Nadja says they’re in the midst of renovating and restoring the stock exchange building (circa 1929)—Canada’s first LEED Platinum heritage conversion—and excavating next to it for a seven-floor underground garage. Construction on the tower, with space for 1,700 workers, is slated to be complete by spring 2017. The building will have retail in the podium.

The deal with National Bank demonstrates confidence in The Exchange's “forward-thinking, next generation office space,” says Nadja. The 370k SF tower will have a stormwater retention system, radiant cooling/heating, and occupancy sensors, reducing energy costs by 45%, consumption by 60%, and carbon emissions by 85% versus conventional buildings, according to SwissReal. And with a raised-floor plenum distributing fresh air throughout, says Nadja, “employees should be excited to come to work.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Vancouver Newsletters
Related Stories

Drawbridge Realty Acquires 180K SF Office Building In Sunnyvale For $219M

Downtown Los Angeles Retail, Office Hub The Bloc Up For Sale

Distress Divide: How Private vs. Institutional Investors Are Thinking About D.C. Office

Interest Rate Hike Douses Outlook For Atlanta Developers

Chicago Office Deals Feature More Scrutiny, Added Tenant Protections

Tishman Speyer Retakes Chrysler Building, Plans $235M Renovation

Activist Investor Buys Stake In Empire State Building Owner

San Francisco Office Market Climbs, Fueling Demand For Large Blocks, Luxury Space

Affinius Relinquishes Big Office Building Next To Capital One Arena

One Thomas Circle, The Elevated Workplace For The Way D.C. Works

Hedge Fund Breaks NYC Record With $375-Per-SF Office Lease

Renewals Dominate In Years-Low Office Leasing Quarter