Ottawa’s tallest office tower has new owners. Crown Realty Partners and Crestpoint Real Estate Management have jointly acquired Place de Ville, a four-building Class A office complex in the downtown Parliamentary district.
Place de Ville’s two-block configuration, with buildings facing onto Queen, Kent and Sparks Streets, also includes a development site. The Canadian government is a major tenant, with about 7,000 workers in the buildings prior to the COVID-19 pandemic.
The complex offers direct access, via the concourse, to Ottawa’s light rail transit (LRT) line, known as O-train, and was Well-Health Safety rated earlier this year. It also boasts an ENERGY STAR score of 85 and is a designated BOMA 360 performer. Sightlines, particularly those from the 29-storey Tower C on Queen Street, take in the downtown core, the Parliament buildings, the Ottawa River and Quebec beyond.
Crown Realty will act as property manager for the joint ownership. The deal boosts the company’s Ottawa portfolio to more than 2.5 million square feet, all which has been acquired in roughly the past two years.
“We see an amazing future in this market with access to a highly diverse labour market including one of the highest technology focused talent pools in North America, amazing cultural offering, growing transit and access to affordable living,” says Scott Watson, partner, acquisitions and leasing, with Crown Realty.
