Allied Leases Up CBC Broadcast Centre
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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.
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“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.