Avigilon To Buy 555 Robson From Telus For $42M
Security solutions provider Avigilon Corp said Friday that it's agreed to buy Telus Communications Co’s nine-storey, 135k SF office building at 555 Robson St for $42M. Avigilon CEO Alexander Fernandes called it a sound investment that will serve as its global HQ. The buy will enable the firm, cited by Deloitte as one of the world's fastest-growing tech companies, to support a “rapidly expanding workforce.”
The building is adjacent to Telus Garden, a new $750M mixed-use office development slated to open next quarter. The older Telus building at 555 Robson has been updated in recent years and outfitted with the latest technology infrastructure, Avigilon notes, which should allow for a “seamless transition” for its employees. The deal is expected to close in October, and Avigilon plans to move in come 2016.