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Crown enters Downtown Ottawa with acquisition/management of 1.2M SF Place de Ville Complex
Crown Realty Partners, on behalf of Vestcor Inc. has announced the acquisition of Place de Ville on a 50/50 basis with Crestpoint Real Estate Management Ltd.
Crown Realty Partners, on behalf of Vestcor Inc. has announced the acquisition of Place de Ville on a 50/50 basis with Crestpoint Real Estate Management Ltd. Place de Ville is a major office complex spanning two city blocks located in downtown Ottawa, Ontario. Crown will also act as property manager on behalf of the co-owners.
Place de Ville is a 1.2M square foot office complex and most notably, “Tower C” at 320 Queen Street stands as Ottawa’s tallest office building at 29 storeys (367 feet). The Class A complex consists of four office buildings at 320 Queen Street, 112 Kent Street (“PDV 1”), 300 and 330 Sparks Street (“PDV 2”), and a development site. Place de Ville is home to over 7,000 federal employees, AAA-rated tenancies and stands as an icon in the City Centre with stunning views of Parliament Hill, the Ottawa River, and downtown Ottawa.
Spanning two city blocks, Place de Ville has undergone a $5M concourse renovation, which is connected to an underground pedestrian pathway giving occupants access to shopping and dining options, two four-star hotels, and transit. Place de Ville is one of only three buildings with direct access to the city’s O‑Train LRT line from its concourse and it has over 1500 parking stalls, 45 secure bike storage spots, and dedicated motorcycle parking.
The marquee complex is one of the most recognizable buildings in Ottawa’s skyline. Within, floor plates range from 12,000 square feet to 20,000 square feet throughout the buildings, providing a variety of layout options for existing and prospective tenants.
Place de Ville is Well Health-Safety Rated (2021), carrying an Energy Star Score of 85 and earning BOMA 360 Performance Building designation (2020).
In the fall of 2019, Crown entered the Ottawa market with a 289,000 square foot acquisition and has since grown to own and manage more than 2.5M square feet of office space across the National Capital Region with more investments on the horizon.