Just announced they have leased 70,000 sq.ft. to a tenant on the 5th to 8th floors to be their national headquarters. Don't know the tenant.
ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST PROVIDES LEASING UPDATE FOR QRC WEST IN TORONTO
Toronto, February 26, 2014 -- Allied Properties REIT (TSX:AP.UN) today provided a leasing update for one of its properties under development, QRC West, Phase I, which is located on the northwest corner of Richmond and Peter Streets in the heart of Toronto’s Downtown West. This project involves the restoration of two existing Class I buildings (134 Peter Street and 364 Richmond Street West) and the addition of a new, LEED-certified component for a combined gross leasable area (“GLAâ€) of approximately 350,000 square feet. In late 2012, Allied leased approximately 50,000 square feet of GLA in the new component to Sapient Corporation and initiated full construction. The delta-frame structural supports for the new component are now complete, and the process of forming and pouring the new floors is underway.
Allied has entered into a long-term lease transaction with a substantial tenant for up to 70,000 square feet of GLA. The tenant will occupy four vertically contiguous floors, the lowest being the fifth floor, which is the unique interstitial space between the former roof of 134 Peter Street and the underside of the new structure. The premises will serve as the tenant’s Canadian head office upon commencement of occupancy in 2015.
The new component of the project is now 50% leased. “We’re encouraged by the quantity and quality of demand for our properties under development generally and for QRC West in particular,†said Michael Emory, President and CEO of Allied.