November 9, 2010
Toronto — British Columbia Investment Management Corporation (bcIMC) announced today that RSA Canada has signed a long-term lease for 108,000 square feet of office space at 18 York Street, the first of two office towers at Southcore Financial Centre (SFC), a major mixed-use complex being built in Toronto’s emerging southcore financial district.
RSA Canada joins PricewaterhouseCoopers, anchor tenant at 18 York Street which is scheduled for completion in the fall of 2011. The tower is now 78% leased.
“We are delighted to welcome RSA Canada to SFC and are pleased they have chosen our building for their corporate headquarters,” said Chuck Swanson, Vice President, Real Estate, bcIMC. “The complex’s unique location and connection to Union Station and the Metro Toronto Convention Centre makes SFC a leading new address for business.”
Encompassing a full block in the southern part of downtown Toronto from York Street to Lower Simcoe Street, and within walking distance of King and Bay, SFC will include 18 York Street and two soon-to-be constructed buildings: the 30-storey, 700,000 sq. ft. Bremner Office Tower and a new generation, premium 4-star Delta Toronto hotel. SFC is targeting LEED Gold certification and is designed by the award-winning firm KPMB Architects.
RSA Canada, a leading property, automobile and commercial insurance group, expects to relocate to the new office in 2012. The relocation by RSA Canada moves the company’s head office from 10 Wellington Street East.
“We are excited about moving our head office to 18 York Street,” says Rowan Saunders, President and CEO of RSA Canada. “This move is good for our employees, strategic partners and the environment. Our relocation underscores RSA’s progress, strength in the market and continued focus on corporate responsibility. As soon-to-be the fourth largest P&C insurer in Canada, it’s imperative that we have a new location that can keep up with our growth and business needs while offering the best amenities to our people.”
The project is being developed by GWL Realty Advisors Inc. with the ground breaking for the next phase scheduled later this year. The full block is scheduled for completion in 2014.
To learn more about Southcore Financial Centre, visit www.southcore.ca.
bcIMC is an investment management corporation based in Victoria, British Columbia, and manages a global investment portfolio of $80 billion. Supported by industry-leading expertise, bcIMC invests in all major asset classes, including infrastructure and other strategic types of assets. Its clients include public- sector pension plans, the Province of British Columbia, public trusts and insurance funds. For more information, visit www.bcimc.com.
About GWL Realty Advisors
GWL Realty Advisors Inc. is a leading real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. For more information, visit www.gwlra.com.