Oxford Properties Group

Oxford Properties Group


January 30, 2012 16:00 ET

Oxford Properties Announces Major Lease at 1021 West Hastings to MNP LLP

New Tower to be Rebranded MNP Tower

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2012) - Oxford Properties Group ("Oxford"), the real estate arm of the OMERS Worldwide group of companies, is announcing a significant lease agreement at its office development at 1021 West Hastings in Vancouver with MNP LLP. One of Canada's largest chartered accountancy and business consulting firms, MNP will lease 72,000 square feet of the office tower over nine floors. The building will be rebranded the MNP Tower.

"Oxford is delighted to announce MNP as the first major tenant at our new office development at 1021 West Hastings in Vancouver and to welcome their team to an exceptional office tower," said Blake Hutcheson, President and Chief Executive Officer, Oxford Properties. "All of the organizations involved in the development at 1021 West Hastings are world class, from our partner, CPP Investment Board, to our architects, Kohn Pedersen Fox, to our contractor, Ledcor, and the list goes on. We are very proud to add MNP's name to this list of terrific organizations involved with this project."

Located on the site of Vancouver's historic University and Quadra Clubs, MNP Tower is scheduled for completion in the summer of 2014. Designed by world-renowned architects Kohn Pederson Fox, the 35-floor, 275,000 square foot office tower will have a rare full waterfront view, rising as a striking glass crest to frame the Marine Building to the east and Guinness Tower to the west. At ground level it will retain its historic club façade, while a prestigious entrance will be created within a newly landscaped public green space. The development is designed to LEED Gold Core and Shell.

MNP's Chief Executive Officer Daryl Ritchie said the firm is very excited about the move. "As MNP continues to expand our practice and presence in the Greater Vancouver Area, our commitment to the marketplace has also expanded - as has our need for more office space. We are thrilled to have our name associated with such a leading-edge tower -- a world-class office development with a breathtaking view that is blazing the green trail with sustainability practices. Today, we are proud to announce that it will become home to our team members in Vancouver, as we continue to meet the evolving needs of our growing client base."

"We are very pleased to welcome MNP to this extraordinary development," said Chuck We, Director, Leasing, Oxford Properties. "MNP is a Canadian success story and has repeatedly been recognized as one of the best employers in the country. MNP is particularly focused on service delivery to its clients, and this world class service focus is echoed by Oxford. From first call to final signing, the leasing process was productive and positive and the Oxford and MNP teams worked extremely well together. We look forward to continuing that positive collaboration for many years to come."

The development of MNP Tower is a joint venture between Oxford, who will oversee all aspects of the development and management of the property, and co-investor CPPIB. Together, Oxford and CPPIB co-own a portfolio of office properties across Canada valued at approximately $3 billion, and are currently also developing RBC Waterpark Place in Toronto.

About Oxford

Celebrating our 50th anniversary in 2010, Oxford Properties Group is one of North America's largest commercial real estate investment, development and management firms. Oxford oversees and manages approximately $19 billion of real estate, including assets belonging to co-owners and investment partners. Oxford's investments include office, retail, hotel, industrial and multifamily residential properties. Oxford is the real estate arm of the OMERS Worldwide group of companies. For more information, visit www.oxfordproperties.com.

About MNP

MNP is one of the largest chartered accountancy and business consulting firms in Canada, providing client-focused accounting, consulting and taxation advice. National in scope and local in focus, MNP has proudly served mid-market public and private companies for more than 65 years. Through the development of strong relationships, MNP provides organizations with personalized strategies and a local perspective to help clients succeed. For more information, visit www.mnp.ca.

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