Photograph By Tom Arban Photography Inc.
SMARTREIT AND MITCHELL GOLDHAR ANNOUNCE HARLEY DAVIDSON CANADA
as a New Tenant in its Class-A office tower at Vaughan Metropolitan Centre ("VMC")
SmartREIT (TSX: SRU.UN) and Mitchell Goldhar today announced that they have completed a lease transaction with Harley Davidson in the KPMG Tower at SmartCentres Place in Vaughan. These new premises of Harley Davidson will be opening in January, 2017 and will represent Harley Davidson’s new Canadian head office. The recently opened, 360,000 square foot KPMG Tower has direct access to the VMC subway station, which connects to downtown Toronto and is expected to be open and operational in December, 2017. “This area around the new subway is generating a great deal of activity and in no time a beautiful new urban centre will emerge” said Mr. Goldhar, Chairman of the Board of SmartREIT.
“Harley Davidson joins KPMG and PWC as key initial tenants in the largest urban mixed-use development in Canada”said Huw Thomas, SmartREIT’s Chief Executive Officer. “Leases are nearing completion with additional tenants in the commercial, financial and legal fields, such that further announcements are expected soon,” added Thomas.
SmartCentres Place is a 100-acre, 17 million square foot master planned development, connected to downtown Toronto by subway, as part of VMC. VMC, at Highway 400 and Highway 7, is a planning area envisioning 40 million square feet of density around the confluence of various mass transit, including the TTC University subway line’s expansion, the new VIVA rapidway and York Regional Transit central bus station. Together these will form the critical elements of the transportation infrastructure serving this budding new centre of commerce, culture, recreation, open spaces and urban life. VMC is unique in that it is centrally located, serviced by the aforementioned subway and bus transit infrastructure and by Highways 400, 407, and 7. It is also unique in that it is currently surrounded substantially by green field, enabling a planned area embodying all the urban characteristics and amenities that modern city visionaries strive for, but generally have difficulty achieving because of physical, legal and ownership constraints. SmartCentres Place at VMC is distinctly positioned to expeditiously accomplish a European style urban centre.
“Harley Davidson joins KPMG and PWC as key initial tenants in the largest urban mixed-use development in Canada”– Huw Thomas (CEO of SmartREIT)
SmartCentres Place in the VMC, which currently contains the KPMG Tower and will soon contain the recently announced 220,000 square foot PWC tower, includes 53 acres of land around the new subway station in a 50/50 joint venture between SmartREIT and Mr. Goldhar. The joint venture plans to develop approximately 8.0 million to 10.0 million square feet of commercial, residential and retail space on its land as part of a 100-acre master planned development, with the remainder of the land owned by Mr. Goldhar in partnership with others.