OTTAWA, March 01, 2023 (GLOBE NEWSWIRE) -- Colonnade BridgePort, a leading full service real estate investment and management company, has acquired 1900 - 2000 City Park Place in Ottawa’s east end. The site consists of a five-story 93,381 sq.ft. Class A office tower – which Colonnade BridgePort will lease and manage – as well as an adjacent four-acre parcel of land. This acquisition is the first transaction for Colonnade BridgePort’s new private equity real estate fund, and was completed in financial partnership with an institutional investor.
Located just off HWY 174 at Blair Road, City Park Place neighbours Gloucester Centre, offering access to many amenities and to public transit, which is ideal for office space, as well as for much-needed transit-oriented, urban infill development.
“Despite the challenging conditions for new development across the country, we believe they are short-term in nature and that the fundamentals will improve throughout 2023 and beyond. This is especially the case in Ottawa, where we have a strong local economy, positive net migration, and a significant shortage of housing,” said Colonnade BridgePort CEO Hugh Gorman. “The city needs more housing – especially in amenity-rich, established communities, in close proximity to transit. The City Park acquisition checks all these boxes, and we feel we will be able to enrich and enhance the existing community by making it stronger, more vibrant, and sustainable for future generations.”
The future development enhances Colonnade BridgePort’s $1 billion transit-oriented development pipeline, which will have a meaningful impact on the sustainable growth of the City of Ottawa.
The City Park Place office tower adds to Colonnade BridgePort’s 9,200,000 million sq.ft. property management portfolio, and leasing opportunities are now available.
“This is an exceptional suburban office, with a variety of available suites for tenants, that is situated on the light rail system and surrounded by great amenities. We are looking forward to showing tenants the possibilities this building has to offer,” said Brent Arseneau, Vice President of Leasing.
1900 City Park Place currently has five vacant spaces for lease. To learn more about these opportunities, please contact:
Brent Arseneau – Vice President, Leasing
barseneau@colonnadebridgeport.ca | P 613.225.8118 | C 613.853.7012
For development inquiries, please contact:
Justin George – Senior Vice President and Head of Development
jgeorge@colonnadebridgeport.ca | P 343.633.5075
About Colonnade BridgePort
Colonnade BridgePort is a full-service real estate company, offering property management and leasing services, acquisition, development, investment management and asset management for commercial and residential properties. We take the time to understand our clients’ objectives and then apply our real estate expertise and market knowledge to drive better performance. Colonnade BridgePort is headquartered in Ottawa with offices in Mississauga and Toronto. www.colonnadebridgeport.ca
Media Contact
Rachal Fleury – Manager, Marketing and Communications
rfleury@colonnadebridgeport.ca | 343.633.5129
Photos accompanying this announcement are available at:
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