 |
| press |
NEW OFFICE TOWER PLANNED FOR OTTAWA'S LITTLE ITALY
Ottawa Business Journal - March 31, 2005 - Sakto Corporation has unveiled plans for the final phase of its Preston Square development at Preston Street and the Queensway, in Ottawa's Little Italy.
The company plans an 11-storey office tower on the site that will complement the existing building known as the Xerox Tower. Six floors of the new building will initially be leased to Adobe Systems, which will re-locate from its nearby offices on Carling Avenue.
The tower will contain 221,000 square feet of office space and should be substantially complete by the third quarter of 2006. Sakto also intends to construct a 100,000 square foot 4-storey mixed-use retail complex fronting on Preston and linking to the Adobe Tower.
For Sakto, it's a "milestone" development.
"Attracting one of the worlds leading software companies as the anchor tenant is shining testament to the Preston Square development and a major accomplishment for our organization. The impressive appearance and design of the new Adobe Tower is destined to become an icon in the community, and certainly a new landmark along the Queensway," says Brian Murray, Sakto's director of leasing and marketing.
"As a research and development hub for Adobe's enterprise software business, our facility needs have become more and more complex," says John Hogerland, Adobe's Ottawa site leader. "And, as a very employee-focused company, we are continually striving to deliver the best possible work environment to our most valuable asset – our people."
The deal is also the first major real estate transaction involving a high tech company since the tech meltdown began in 2000.
When finished, the total complex will contain over 671,000 square feet of office, retail and residential space, along with parking for over 1,100 vehicles.
For more information on Sakto, or this press release, please email info@sakto.com.
|
|
|
