Increasing their presence in Southwestern Ontario, having previously purchased assets in Kitchener-Waterloo and Windsor, Europro has acquired the 550,000 square foot London City Centre Towers. With a vision to revitalize the core and understanding the potential in the London market, Europro is excited for the new venture. “With new condos being built downtown and a stable market with growth potential, we believe strongly in the future of the downtown core. London is getting attention that it has not seen in years, and we’re seeing a growing desire for people to live, work and play in the downtown area,” mentioned Europro President Josef Jakubovic.
With the demonstrated confidence in the downtown market, it is clear where things are headed in London. Greg Harris, SIOR, CCIM, Senior Sales Associate at CBRE Limited, noted the importance of this transaction. “Europro has a strong track record of success in mid-sized markets and this deal further indicates the strength of the London market and should spark additional investments from non-local investors,” explained Harris.
London City Centre is one of TD Bank’s largest office presence outside of Toronto, and also houses the London office of CBRE, National Bank, FCT Default and Corus Radio. Adding to that impressive roster of tenants, London City Centre will be seeing the introduction of Siskinds LLP, who will be taking over 50,000 square feet of space starting spring of 2021. With the rapid growth of the firm, it was imperative that Siskinds found a new office solution. “We outgrew our London office at 680 Waterloo St. and have been renting additional space at 252 Pall Mall St. for over a year now. Today, with a team of over 230 lawyers and support staff, we needed to find the right location with room to grow,” said Fred Rose, CEO of Siskinds.
Jakubovic is ecstatic to welcome Siskinds to the portfolio. “Knowing that Siskinds wants to be in the building is a huge vote of confidence for us. The previous ownership has invested a lot of money into the building and it has proven to be one of the premier office solutions in downtown London. Having a law firm of their caliber come into our building confirms that,” revealed Jakubovic.
With CBRE as a tenant of London City Centre, they will experience the positive impact that the law firm will have on the building first-hand. “Having Siskinds in LCC, and in particular with the firm having space on the ground floor, will bring a strong professional presence to the building, adding foot traffic and supporting the other commercial tenants,” said Harris. Jakubovic also sees the positive impact Siskinds will have on the LCC. “The transition will give Siskinds the opportunity to rethink their space and invest into making it their own. Modernizing the existing space, which will be beneficial for both tenant and landlord,” explained Jakubovic.
The London City Centre is an attractive space for Siskinds to transition to. Fred Rose explained that, “it is a Class A office complex and is a recognizable building in the downtown core. We were impressed with the building upgrades, including the energy-efficient windows.”
Downtown London also offers a great deal of benefits to Siskinds. “They will have access to shopping, restaurants, entertainment, residences and services all by foot. In addition to the close proximity to courts, government and their legal colleagues downtown”, said George Kerhoulas, Sales Representative at Cushman & Wakefield. Kerhoulas further explained that, “Siskinds commitment to London brings over 200 highly-skilled persons further into the core.” The influx of employees transitioning further into the core will provide an economic benefit to surrounding businesses.
Siskinds CEO Fred Rose is supportive of the changes the downtown core is experiencing and sees a great opportunity for Siskinds to be a part of that change. “Downtown London is a pillar of the community with a rich history and we are excited to be a part of London’s downtown transformation,” said Rose.
Europro was founded in 2003 and is one of Ontario’s most versatile and fast-growing property companies. With 18 years of experience, the family-run business has grown to property ownership and management services in 13 locations in Ontario. Headquartered out of Toronto, with regional offices in Barrie, Windsor and Kitchener, the company’s success is based on a personalized approach to fostering tenant relationships and a focus on creative and responsive solutions to real estate. Europro’s portfolio spans multiple categories and property types including best in class office towers and regional shopping centers. Using an innovative approach, Europro brings a unique blend of versatility and creativity to shape the communities where they operate.
Siskinds LLP serves individuals, families and businesses in southwestern Ontario and across Canada from offices in London, Sarnia, Toronto and Québec City. With a team of over 230 lawyers and support staff who cover family law, business law, litigation, personal injury and class actions as well as over 25 specialized areas of law, Siskinds can manage an extensive array of legal needs within one firm.siskinds.com
About CBRE Group, Inc.:
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. In Canada, CBRE Limited employs 2,275 people in 22 locations from coast to coast. Please visit our website at www.cbre.ca.