Engineering Consulting Firm BGC Secured as Lead Tenant for 16-Storey
Building
C$ unless otherwise stated
TSX/NYSE/PSE: MFC
SEHK:945
VANCOUVER, July 25, 2013 /CNW/ - Manulife Real Estate, the global real
estate arm of Manulife Financial Corporation, today announced that it
has begun construction on 980 Howe Street, a 16-storey, 250,000 square
foot office building in downtown Vancouver. International engineering
consulting firm BGC has been secured as lead tenant.
Designed by CEI Architecture and Endall Elliot Associates, 980 Howe
Street will be a state-of-the-art, Class "A", LEED Gold Certified
office building located within walking distance of Robson Square, the
Vancouver Art Gallery and the provincial law courts. The Vancouver
office of Pivotal Projects is managing the project with Ellis Don as
General Contractor. The building has a targeted completion of spring
2015.
This development brings Manulife Real Estate's total owned and managed
portfolio in Vancouver to more than 1 million square feet. Manulife's
other Vancouver properties include 1095 West Pender and 510 Burrard
Street.
"Manulife Real Estate continues to expand our reach into the growing
Vancouver real estate market," said Kevin Adolphe, President and CEO,
Manulife Real Estate. "We have confidence in the fundamentals of the
Vancouver office market and we have had tremendous experiences working
with the Vancouver community."
Amenities at 980 Howe Street will include an on-site conference
facility; rooftop garden terrace; secure bicycle storage; an exclusive
tenant lounge and a fitness centre.
BGC, which provides engineering and geoscience services to the mining,
energy and transportation industries has agreed to a 15-year lease term
and will occupy four floors at 980 Howe.
"Manulife's strong reputation, the LEED Gold standard, top amenities and
location were important factors for us when considering our move." said
Steve Hedberg, President and CEO, BGC. "We are looking forward to
growing with Manulife at 980 Howe Street, especially being able to
offer lifestyle choices in a sustainable, efficient working environment
to our staff."
About Manulife Real Estate
Manulife Real Estate is the global real estate arm of Manulife Financial
Corporation with fully integrated in-house capabilities and 70 years of
experience as an active investor, owner, developer and asset manager of
commercial real estate. Diversified by both geography and asset type,
the portfolio consists primarily of prime office and industrial
properties, as well as select retail and multi-family residential
properties, in key metropolitan centers throughout Canada, Asia and in
the United States, through Manulife's U.S. division, John Hancock. In
addition to equity real estate, Manulife Real Estate manages the space
requirements and own use facilities for Manulife's operations around
the world. In 2011, Manulife Real Estate launched a new real estate
fund platform, extending the benefit of its long established real
estate asset management expertise to institutional investors. As at
March 31, 2013, the Manulife Real Estate portfolio totaled more than 36
million square feet with a market value of C$9.3 billion (US$9.2
billion). Additional information about Manulife Real Estate can be
found at http://www.manuliferealestate.com.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group
with principal operations in Asia, Canada and the United States.
Clients look to Manulife for strong, reliable, trustworthy and
forward-thinking solutions for their most significant financial
decisions. Our international network of employees, agents and
distribution partners offers financial protection and wealth management
products and services to millions of clients. We also provide asset
management services to institutional customers. Funds under management
by Manulife Financial and its subsidiaries were C$555 billion (US$547
billion) as at March 31, 2013. The Company operates as Manulife
Financial in Canada and Asia and primarily as John Hancock in the
United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '945' on the SEHK. Manulife Financial can be found on the
Internet at http://www.manulife.com.
Image with caption: "980 Howe Street, Vancouver, British Columbia - Property Type: Downtown Office, Building Size: 250,000 SF, Number of Storeys: 16 (CNW Group/Manulife Financial Corporation)". Image available at: http://photos.newswire.ca/images/download/20130725_C9636_PHOTO_EN_29270.jpg
SOURCE: Manulife Financial Corporation
