Transactions & Cases Detail
Deloitte completes lease at Bay Adelaide East office tower with Brookfield Office Properties
September 21, 2012
Real Property / Construction
On September 21, 2012, Bay Adelaide East Ltd., the landlord and a subsidiary of Brookfield Office Properties Inc. (“Brookfield”), and Deloitte Management Services LP (“Deloitte”), the lead tenant, completed the lease of approximately 420,000 square feet of the new 44-storey, 980,000 square feet of the Bay Adelaide East office tower.
The tower is the second office tower of Bay Adelaide Centre being developed by Brookfield in the downtown Toronto financial core. With this latest development Bay Adelaide Centre will represent the forefront of premier office product in Toronto’s financial core, encompassing the full Adelaide Street block between Bay and Yonge Streets.
Brookfield announced that the development is being designed to achieve LEED CS Platinum certification, the highest level attainable. Brookfield plans to break ground before the end of the year with completion expected in late 2015. All lease documentation between Brookfield and Deloitte was completed on September 21, 2012.
Deloitte, headquartered in Toronto, Ontario, is a professional services firm, providing audit, tax, consulting, enterprise risk and financial advisory services.
Brookfield, headquartered in Toronto, Ontario, is a commercial real estate company.
McCarthy Tétrault LLP represented Deloitte, the tenant, with a team led by Godyne Sibay.