New office tower marks area`s first significant development in over 17 years

(Source: Business Wire)

Brookfield Properties Corporation and its Canadian-based subsidiary, BPO Properties Ltd. today celebrated the official opening of Bay Adelaide Centre – the first development built to achieve a Leadership in Energy and Environmental Design (LEED) Gold Standard in Toronto`s financial district. Bay Adelaide Centre is also the first major development in the financial district in over 17 years.

Standing 51-storeys tall, the 1.2-million-square-foot office tower adheres to strict building efficiency guidelines, including optimization of energy, light and water, and the use of local and recycled building materials. The building also features state-of-the-art operating and life safety systems.

Today`s grand opening was commemorated with a naming ceremony in Bay Adelaide Centre`s urban plaza. Brookfield Properties CEO Ric Clark announced that the plaza is being named in honour of Gordon E. Arnell, who has served as Brookfield Properties Corporation`s Chairman since 1995. Mr. Arnell was on hand to view Toronto`s newest urban park, Arnell Plaza, a half-acre of landscaped gardens, Gingko trees, benches and manicured flowerbeds.

Bay Adelaide Centre`s anchor tenant is KPMG; other significant tenants include law firms Heenan Blaikie, Goodmans LLP and Fasken Martineau. Currently, the tower is 73 percent leased.

Read the full press release “Bay Adelaide Centre Opens Its Doors in Toronto” in Business Wire (September 16, 2009).

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