The Cadillac Fairview Corporation Limited

The Cadillac Fairview Corporation Limited

July 13, 2012 09:00 ET

Construction of Downtown Montreal Office Tower to Commence as Cadillac Fairview and Deloitte Sign Lease Agreement

Twenty-Six Storey Deloitte Tower Marks the First Phase of Bell Centre Area Development

MONTRÉAL, QUÉBEC--(Marketwire - July 13, 2012) -

Editors note: There is a photo associated with this press release.

Attention: business, real estate, assignment editors.

The Cadillac Fairview Corporation Limited today announced the commencement of construction of a 26-storey office tower in downtown Montréal, with the signing of a long-term lease agreement with professional services firm Deloitte as the anchor tenant. The new Deloitte Tower represents the first stage of a comprehensive, multi-year redevelopment of lands surrounding the Bell Centre.

Deloitte will occupy 160,000 square feet of the 514,000-square-foot project, which will be home to premium office space, retail shops and approximately 225 parking spots. The one-acre site is currently occupied by a vacant, seven-storey office building.

"Montréal is ready for a new, first class landmark office building and we're proud to play a major role in revitalizing this prime location in the downtown," said Sal Iacono, Senior Vice President, Development and Portfolio Management, Eastern Canada for Cadillac Fairview. "We're especially pleased to have Deloitte on board as the anchor tenant in this exciting development, the first major privately funded office tower to be built in this city since the early 1990s."

Frank Vettese, new Managing Partner and Chief Executive of Deloitte Canada, said "This is a truly exciting project for the people of Deloitte. It is a transformational project within the city of Montréal that will allow us to create the workplace of the future. This innovative workplace will inspire collaboration and teamwork, as well as focus on bringing the next evolution of Deloitte's services to the marketplace. It will become a destination for our people and our clients. It is also in keeping with our commitment to sustainability and our objectives around corporate responsibility."

Cadillac Fairview acquired Windsor Station and its surrounding lands, known as the Windsor Block, in 2007. The lands can accommodate several million square feet of mixed-use development, including commercial and office space, a hotel and condominium towers. The Deloitte Tower will be located between the heritage-designated Windsor Station and the Bell Centre.

The office complex will offer a central location and optimal accessibility to tenants through commuter rail and Metro station connections, Montréal's underground network via Windsor Station, and vehicular access via St. Antoine Street and ramps to and from Autoroutes 720 and 10.

"The Deloitte Tower will be unique among Montréal's office towers because of its location and incredible access and connectivity," said Wayne Barwise, Executive Vice President, Development, Cadillac Fairview. "This project also marks the first phase of a multi-year redevelopment of this area which involves a convergence of commerce, sports, heritage and entertainment."

Consistent with Cadillac Fairview's commitment to sustainability, the Deloitte Tower will be built to LEED® Platinum certification, making it the first major office project in Montréal to achieve this level of certification.

Additional features of the Deloitte Tower include a signature, 32-foot-high lobby facing the historic Windsor Court; an outdoor Courtyard complete with a skating rink, public seating and park area. In addition, the Bush shed, a heritage-designated remnant of Windsor Station's original rail platforms, will be incorporated into the window line of the courtyard-level lobby.

Construction is set to begin October 2012 and be completed by June 2015 through a joint venture between PCL Constructors and Construction C.A.L.

About Cadillac Fairview

The Cadillac Fairview Corporation Limited is one of North America's largest investors, owners and managers of commercial real estate. For more than 50 years, Cadillac Fairview has been a leader in commercial real estate thank to its innovative designs, development and management. Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres across North America as well as international investments in real estate companies and investment funds. For more information, please visit us online:

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