A growing real estate investment trust says it’s closed its purchase of a Kanata office complex, the latest in a string of acquisitions in the National Capital Region.
BTB REIT says it has bought 1-9 and 10 Brewer Hunt Way in the Kanata North Business Park. The 132,067-square-foot suburban office complex is fully leased and counts Flextronics and Optelian among its tenants. BTB did not disclose the individual purchase price, but said it spent a total of $62.3 million on the Ottawa properties as well as a 128,215-square-foot retail property outside Montreal and a 170,074-square-foot office property in Saint-Jean-sur-Richelieu, Que., southeast of Montreal.
The vendor was not named, but the properties are listed in Sakto Corp.’s online portfolio. A listing from Primecorp Commercial Realty says the Kanata complex was primarily constructed in the mid-‘80s, except for 10 Brewer Hunt Way, which was constructed in 1974 and expanded in 1984.
OBJ360 (Sponsored)
Best Places to Work: Creating the best place to work is a goal at Ottawa General Contractors
As a young entrepreneur with a booming general contracting business, Fares Elsabbagh received plenty of accolades as well as financial rewards for the hours he spent building his business. But
As people return to work in office, many employers are focusing in earnest on creating a healthy, welcoming environment. For CBRE, that focus was turned up a notch as the
The property was extensively renovated in 2000, according to Primecorp.
In 2012, BTB purchased a Stafford Road office building, the Invest Ottawa building at 80 Aberdeen St. as well as a $6 million interest in a Gatineau retail/office development.
The REIT says its latest purchase has pushed its portfolio value beyond $500 million.
