Manulife Financial’s real estate division plans to build a 27-storey office building in Calgary’s downtown core.
The 564,000-square-foot tower at 707 Fifth Street—designed by Skidmore, Owings and Merrill—is expected to be completed by March 2017.
“Manulife has a long-standing presence in the Calgary real estate market dating back to the early 1960s,” says Kevin Adolphe, Manulife Real Estate’s president and CEO. “We look forward to carrying on that proud tradition with 707 Fifth Street, which will become a best-in-class office tower in Calgary.”
Brion Energy, previously Dover Operating Corp., has been secured as the lead tenant of the building. The 270-person company operates two leases in the bitumen-rich oil sands near Fort McMurray, Alta.
Manulife Real Estate currently owns and manages eight properties in Calgary, and the new building will bring its portfolio in the city to approximately 1.3 million square feet.
Last week, the company announced it would construct an office tower in Vancouver.
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