TORONTO, Jan. 17, 2017 /CNW/ - Indigo (TSX:IDG) today announced
they've signed a long term commitment to lease with Allied Properties REIT and RioCan REIT for the relocation of their Corporate
Home Office to an exciting mixed-use development currently under construction at King Portland Centre, located at 602-620/642
King Street West, Toronto.
Located less than half a kilometre west of the Company's current corporate office, the Indigo Home Office will comprise close to
80,000 square feet over four floors of the new development, enhancing their current Indigo Corporate Office space by close to
15,000 square feet, with an expected occupancy in early 2019.
According to Heather Reisman, Indigo's Founder and CEO, "Indigo has been located at King and
Spadina since April of 1999 and we've enjoyed our many years as a tenant of Allied Properties. We look forward to our continuing
relationship as we move to a larger space in what will be an outstanding new building. We're happy to be able to stay in this
burgeoning, creatively driven, and energetic neighbourhood."
The office and retail components of King Portland Centre have been designed to a LEED (Leadership in Energy and Environmental
Design) CS (Core & Shell) Platinum standard and will include best-in-class operational, environmental, life-safety and health
and wellness systems. Construction commenced earlier this month with site mobilization and preparation for excavation.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are forward-looking statements which involve risk and
uncertainties that could cause results to differ materially from those expressed in the forward-looking statements. Among the key
factors that could cause such differences are: general economic, market or business conditions in Canada; competitive actions
by other companies; changes in laws or regulations; and other factors, many of which are beyond the control of the Company.
About Indigo Books & Music Inc.
Indigo is a publicly traded Canadian company listed on the Toronto Stock Exchange (IDG). As the largest book, gift and
specialty toy retailer in Canada, Indigo operates in all provinces under different banners including Indigo
Books & Music; Indigo Books, Gifts, Kids; Indigospirit; Chapters; and Coles. The online channel, indigo.ca, offers a one-stop online shop with a robust selection of
books, toys, home décor, stationery, and gifts. To learn more about Indigo, please visit the Our Company section at indigo.ca.
SOURCE Indigo Books & Music Inc.
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