Brookfield Properties Corporation (BPO: NYSE, TSX) and its
Canadian-based subsidiary, BPO Properties Ltd. (BPP: TSX) today
announced that tenant Petro-Canada has renewed its lease through 2028
and expanded its premises by 70,000 square feet at Petro-Canada Centre
in Calgary.
Petro-Canada currently leases 945,000 square feet at the
1.9-million-square-foot office complex, which is 100% leased. Its
current lease runs through 2013, but the company decided to renew early
for an additional 15 years and increase its current premises to over one
million square feet.
“Petro-Canada’s
decision to renew and expand at the property which bears its name is
another example of a major energy sector tenant making a long-term
commitment to downtown Calgary,” said Tom
Farley, president and COO of Canadian Commercial Operations at
Brookfield Properties. “The office market in
Calgary is one of the healthiest in North America and this deal is a
further indicator of the economic strength of Calgary and the province
of Alberta.”
Brookfield Properties owns and manages eight properties in downtown
Calgary encompassing over six million square feet. The two-tower
Petro-Canada Centre complex is one of the most iconic business addresses
in Canada. The West Tower is the tallest structure in Western Canada,
rising 706 feet from street level.
About Brookfield Properties Corporation
One of North America's largest commercial real estate companies,
Brookfield Properties owns, develops and manages premier office
properties in major U.S. and Canadian cities. The portfolio is comprised
of interests in 108 properties totaling 74 million square feet in the
downtown cores of New York, Boston, Washington, D.C., Los Angeles,
Houston, Toronto, Calgary and Ottawa. Landmark assets include the World
Financial Center in Manhattan, Brookfield Place in Toronto, Bank of
America Plaza in Los Angeles and Bankers Hall in Calgary. The company
also holds interests in over 16 million square feet of high-quality,
centrally located development and redevelopment properties in its major
markets. The company's common shares trade on the NYSE and TSX under the
symbol BPO. For more information, visit www.brookfieldproperties.com.
About BPO Properties Ltd.
BPO Properties Ltd., 89% owned by Brookfield Properties Corporation, is
a Canadian company that invests in real estate, focusing on the
ownership and value enhancement of premier office properties.
