LaSalle Acquires Four Class A Office Towers in Greater Toronto Area
TORONTO (January 27, 2016) – LaSalle announced it has acquired a portfolio of four Class A office towers strategically located in the Greater Toronto Area (GTA) West submarket of Burlington, Ont. The Burloak Towers acquisition is LaSalle’s first in the area since developing, leasing, and selling more than 1.3 million square feet of office and distribution space, including UPS’ Canada’s head office and regional distribution center.
The towers are located within walking distance to a variety of local amenities and offer access to strong transit infrastructure including the Queen Elizabeth Way, Burlington Transit and GO Transit. In addition, the offices offer an array of on-site amenities including fitness centres, food services, conference rooms, and free parking.
Greg Spafford, Managing Director, LaSalle, said: “The Burloak Towers are a first-class investment property complex that will add value for our clients for years to come due to an already strong tenancy base and strategic commuter location. With downtown Toronto remaining one of Canada’s hottest office markets, we’re excited to add this Class-A office space that provides an attractive leasing option for businesses looking for quality office space with convenient access to downtown and the Greater Toronto Area.”
The office complex is currently 83 percent leased to a globally diverse tenant pool including TD Bank, Royal Bank of Canada, Sodexho Canada, Certas Insurance, London Life Insurance, as well as several fast-growing technology companies.
Crown Property Management Inc. will provide on-site property management for the newly-acquired office buildings and is currently in the process of improving the quality of the towers and providing enhanced tenant services.