Newmark Knight Frank Devencore

Newmark Knight Frank Devencore

September 15, 2011 07:30 ET

Newmark Knight Frank Devencore Secures New Home for High Fidelity HDTV

Negotiates Lease for 39,000 Square-Foot Facility at 130 Merton Street in Toronto

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - Newmark Knight Frank Devencore, Canada's largest corporate real estate advisor and brokerage exclusively representing corporate office and industrial space users, announced today that it has located and secured a new corporate headquarters, broadcast and production centre for High Fidelity HDTV. The building, located at 130 Merton Street in Toronto, is currently being upgraded by High Fidelity HDTV to a state-of-the-art facility housing, amongst other things, High Fidelity HDTV's leading-edge Master Control operations for its premium, high-definition television services: Oasis HD™, eqhd™, Treasure HD™ and radX™.

"We are very pleased to have been able to secure this new facility for High Fidelity HDTV," said Mark Petznick, Vice President & Sales Representative at Newmark Knight Frank Devencore in Toronto. "This is the third leasing transaction we've assisted with over the past six years, as High Fidelity HDTV has enjoyed very rapid growth. Locating and negotiating a new lease for a 39,000-square-foot space was an especially interesting challenge, as High Fidelity HDTV had very specific requirements related to their unique needs as a high-definition broadcaster, media content producer and facilities services supplier. Our intimate knowledge of the market allowed us to find a building with the right floor plate, technological capabilities, backup systems and visibility that could address these needs."

This transaction will effectively reduce the vacancy rate in midtown Toronto's popular Yonge and Eglinton submarket from 6.7% to 5.8% - the lowest it has been over the last 2 years. Additionally, the absorption of nearly 40,000 square feet in this node nearly equals the best quarterly absorption number achieved over the last 2 years.

"We were delighted once again to partner with Newmark Knight Frank Devencore for the purpose of securing our new home," said David T. Patterson, Partner & General Counsel of High Fidelity HDTV. "This was a critically important initiative to secure the continued growth and evolution of our business, and Newmark Knight Frank Devencore certainly worked effectively and efficiently to serve us."

About Newmark Knight Frank Devencore

Devencore is the Canadian partner of Newmark Knight Frank, one of the largest real estate service firms in the world. Newmark Knight Frank Devencore is Canada's largest corporate real estate advisor and brokerage exclusively representing corporate, industrial and retail space users. With offices across Canada, Newmark Knight Frank Devencore offers its global clientele comprehensive services that are individually designed to ensure executive real estate decisions are supported by effective strategies and professional execution.

Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For more information about Newmark Knight Frank Devencore, please visit: www.devencorenkf.com

About High Fidelity HDTV Inc.

High Fidelity HDTV is an independent Canadian high-definition broadcaster, media content producer and facilities services supplier. High Fidelity HDTV's television services provide smart and engaging programming to curious audiences hungry for premium programming. High Fidelity HDTV broadcasts four highly popular HD channels: Oasis HD™, Treasure HD™, eqhd™ and radX™. For more information about High Fidelity HDTV, please visit: www.hifihdtv.ca.

Press releases are available at the following address: http://english.devencorenkf.com/home/media-center/press-releases.aspx

Contact Information

  • Further information about Newmark Knight Frank Devencore:
    Allan Schaffer, President / Broker of Record
    Devencore Realties Corporation
    Canada Limited, Brokerage
    416-366-0366, ext. 231
    aschaffer@devencorenkf.com

    Sylvie Bachand
    Director, Marketing and Communications
    Devencore Ltd.
    Real Estate Agency
    514-392-1330, ext. 225
    sbachand@devencorenkf.com