Voisin Capital and Brick by Brick Developments Acquire 8 Queen

WATERLOO, ON--(Marketwired - June 02, 2015) - Cushman & Wakefield Waterloo Region is excited to announce the acquisition by Brick by Brick Developments and Voisin Capital of 8 Queen Street North in Kitchener, Ontario. The property is a stunning 40,000 square foot Brick & Beam building originally constructed in 1925 as the Goudie's Department Store and offices. The developers are undertaking an ambitious renovation plan for the property, transitioning it to Class A Office Space. Part of the undertaking will be to research and pay tribute to the Goudie's family with historical articles and memorabilia put on display throughout the building for the public to relive their childhood memories.

"Steve and I are excited for the opportunity to redevelop this celebrated building in the heart of Kitchener into the most attractive large block of office space in the Region. Increasing the supply of brick and beam office space will help foster the downtown tech community and add to our Region's prosperity," says Frank Voisin, President, Voisin Capital.

"It is great working with my brother on this project; Frank brings his financial and legal expertise and I bring my construction background. Together we feel we can contribute something of value that the community can be proud of and continue our family's long history as developers in the Region," says Steve Voisin, President, Brick by Brick Developments.

Over 33,000 square feet of Class A Brick & Beam office space will be available for an occupier, representing the largest block of Class A Brick & Beam office space available for lease in Kitchener's vibrant core. Downtown Kitchener has become a hotspot for high tech companies, creating a unique entrepreneurial ecosystem, fueling creativity, and driving the regional economy.

"With the continued growth of the Waterloo Region tech sector, there is strong demand for Brick & Beam space in the urban core. It is great to see local developers responding with such a large block of space close to the Tannery and other firms in the ecosystem," says Iain Klugman, CEO of Communitech.

"Downtown Kitchener continues to attract investment and new developments, which grow our local economy," says City of Kitchener's Mayor Berry Vrbanovic. "I'd like to welcome Voisin Capital and Brick by Brick Developments to the downtown to bring additional Brick & Beam space to meet the needs of interested partners. This great project will no doubt see more great innovation coming out of Kitchener and Waterloo Region."

8 Queen features open concept floor plates, soaring ceilings, character features like original brick walls, hardwood floors, exposed structural beams and HVAC ductwork, all in a central urban location that promotes a Live-Work-Play lifestyle. In addition to being close to multiple transit options, 8 Queen benefits from being connected to the City of Kitchener parking garage at Duke and Ontario, as well as having secure bike storage on site.

"As we fulfill our goal of attracting foreign investment to Waterloo Region, it's extremely valuable to have available such attractive Brick and Beam space in the core and in such in close proximity to the other innovative firms and organizations which make our local ecosystem so unique," says John Jung, CEO of Canada's Technology Triangle Inc.

The developers were represented in the off market acquisition by Benjamin Bach of Cushman & Wakefield Waterloo Region, who has also been appointed to handle the leasing of the premises.

"We are proud to have assisted Brick by Brick Developments and Voisin Capital with this acquisition, and to have been appointed as the exclusive leasing agent. Increasing velocity of the office leasing market in downtown Kitchener, combined with the complete lack of large blocks of Brick & Beam space available, has made it challenging for users looking to secure quality creative space in the core; I'm looking forward to seeing which firms emerge to take advantage of this rare opportunity," says Benjamin Bach, Associate Vice President, Cushman & Wakefield Waterloo Region.

Brick by Brick Developments and Voisin Capital look forward to providing the next generation of business leaders with desirable, innovative workspaces where their ideas can succeed. Future tenants and the public can get more information about the development at www.8Queen.com.

ABOUT BRICK BY BRICK DEVELOPMENTS

Brick by Brick Developments Ltd. is a real estate development company founded by local real estate developer Steve Voisin. Steve graduated from the University of Guelph with a B.Sc. (Engineering) (Hons.) and obtained the P.Eng. designation before joining Voisin Developments Ltd. Steve is the Construction & Engineering Manager for Voisin Developments and has been part of the family team that is most notable for developing the Sunrise Shopping Centre and The Boardwalk on Ira Needles. He sits on the Board of Directors and is the Treasurer for the local, non-profit Community for Renewable Energy of Waterloo (CREW).

ABOUT VOISIN CAPITAL

Voisin Capital Inc. is a real estate investment company founded by local entrepreneur Frank Voisin. Frank holds a BA (Hons.) from Wilfrid Laurier University, as well as a JD and MBA from the University of Western Ontario. He has completed the three CFA exams and provides financial and strategic consulting for several local companies. Frank also advises at Conestoga College's Centre for Entrepreneurship. He sits on the Board of Advisors at Waterloo Region's Small Business Centre and the Board of Directors for the 10,000 Trees Project.

ABOUT CUSHMAN & WAKEFIELD

Cushman & Wakefield Waterloo Region Ltd was originally established as Primus Realty Ltd. As a market leader, Cushman & Wakefield Waterloo Region Ltd. offers a full range of commercial real estate brokerage services to property owners, investors, tenants and buyers. Professionals in our office, industrial, retail, investment and specialty practice groups excel in today's dynamic and complex marketplace.

Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 256 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, click HERE.

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