TORONTO — Menkes Developments has announced that BentallGreenOak has acquired a 50 per cent interest in the Waterfront Innovation Centre currently under construction on Toronto’s east waterfront.
The two-tower project will consist of 475,000 square feet of office and retail space with project completion targeted for 2021. BentallGreenOak made the acquisition on behalf of Sun Life, stated an April 29 release.
Sun Life is currently a partner with Menkes at the developer’s One York Street office tower, also known as the Sun Life Financial tower, in Toronto’s south core.
The Waterfront Innovation Centre broke ground in September 2018. It’s currently 71 per cent pre-leased with tenants to include WPP plc and MaRS.
The complex was designed by architects Sweeny & Co and will feature self-generating solar power.
It’s expected the project will enable the creation of nearly 3,000 jobs.
“This partnership will further expand our relationship with Sun Life, a valued partner since 2014,” said Peter Menkes, the firm’s president, commercial/industrial, in the statement. “The Waterfront Innovation Centre represents another city-building opportunity for Menkes and Sun Life to revitalize Toronto’s waterfront for the benefit of tenants, residents and visitors to the city.”
Recent Comments
comments for this post are closed