- What Morguard has acquired a 20% interest in a Vancouver office tower
- Why The property is well located and has a number of sustainable features
- What next The deal adds to the company’s 11.7m sq ft office portfolio
Morguard has acquired a 20% stake in a trophy office tower in downtown Vancouver.
Telus Garden, at 510 West Georgia and 541 Robson Street, spans 557,000 sq ft, including about 33,000 sq ft of retail space. Tenants include Telus and Amazon. Morguard manages the property.
Built in 2016, the 24-storey property has LEED-platinum and BOMA Best-platinum certifications, with sustainable elements such as a district energy system, a green roof and solar panels. Architectural elements include a glass-encased lobby with a garden and LED-integrated facade lighting.
The building is close to SkyTrain and Expo Lines and has 318 parking spaces.
As of June 30, Mississauga, Ont.-based Morguard’s office portfolio totaled 11.7m sq ft and was valued at $2.6bn.
