Edmonton City Centre
The Canderel team is excited to be involved in the management of one of the city’s busiest and most sought-after commercial and retail properties: the Edmonton City Centre. This downtown destination for working, shopping and dining is in a prime location to enjoy the city centre.
The centre was purchased by a group headed by LaSalle Investment Management, a team with whom Canderel has developed an excellent relationship with over the years. Canderel is a co-investor and property manager for the project. Given the sheer size of this mandate (almost 1.4 million sf), the project was divided into two sectors: retail and commercial. Canderel will be managing the office and parking components, which include the Oxford Tower, the TD Tower, Centre Point Place, and over 2,500 parking spots in four separate parkades. North American Development Group will be overseeing the retail portion of the centre.
Another thrilling project is Canderel’s new mandate to manage the tallest skyscraper in Canada outside of Toronto, the prestigious Stantec Tower. This 66-storey 700,000 sf mixed-use tower consists of retail space, offices, and 454 residential units. Its major tenants are Stantec, PwC Canada and Dentons Canada. The project forms part of the new Ice District, which includes a JW Marriott Hotel and Rogers Place, home of the NHL’s Edmonton Oilers. The project is targeting a LEED® Gold certification.
This mandate was awarded to Canderel by DekaBank of Germany, an entity with whom Canderel first formed a relationship when they financed 777 Bay in Toronto in 2016. Their confidence in Canderel and the relationship we have built with them over the years lead them to award us this prominent mandate.
The Edmonton City Centre and the Stantec Tower are significant milestones that we are proud to be a part of as we continue to invest and grow in the Edmonton market, which started a number of years ago with our acquisition of Humford Management.