Allied Leases Up CBC Broadcast Centre
Allied Properties REIT has finalized three new deals at the Canadian Broadcast Centre comprising 68k SF, bringing the total leased area at 250 Front St W to 150k SF (86%). And Allied says it’s negotiating four additional leases that would take the building's leasing to 100%. The REIT, which occupies the broadcast centre under a long-term lease from owner CBC, said it’s also “evaluating the possibility” of expanding its own premises at 250 Front.
“We’re now at the point where our development pipeline is built and primed,” Allied chief Michael Emory said in a leasing update. The firm’s architecturally awesome QRC West Phase 1—which integrates two restored buildings with a striking new LEED-certified glass structure above—is 93% leased, after tenants Givex and Sweeny &Co Architects expanded their initial requirements. At 460 King St W (the former backpackers' hostel it acquired last summer and is restoring), Allied has leased just under 17k SF to tech firm Konrad Group.