The Exchange office tower in downtown Vancouver is under construction until late 2017 but 50 per cent of space has already been spoken for.
In May, Western Investor reported the former Vancouver Stock Exchange building would be converted into a 202-room Executive hotel. Executive Hotels & Resorts will absorb approximately 110,000 square feet of office space over ten floors.
“When Credit Suisse Asset Management embarked on this ambitious project, we were confident that The Exchange would be able to fill much-needed demand for quality office space,” said Herbert Meier, project manager at Credit Suisse. “We are pleased that The Exchange is now also delivering additional hotel space to Vancouver.”
The hotel will have its own entrance and elevators, separating it from the 31-storey office tower.
“The Exchange is arguably the best example of collaborative modern and historic architecture in Canada, and it boasts a world-class location,” said Salim Sayani, president of Executive Group, which recently opened hotels in New York and Toronto.
A Vancouver accounting firm and a local fintech company will tenant over 50,000-square-feet of Class AAA space at The Exchange. The companies joins anchor tenant National Bank, who will lease over 45,000-square-feet. Lindt chocolatiers will operate a small retail store on the ground floor of the tower.
“Tech companies represent about 40 per cent of tenant demand in Vancouver, but there is also a resurgence in demand from traditional office users who see this building as an opportunity to refresh their premises and their brands,” said Mark Chambers, JLL Vancouver’s executive vice president of office leasing. “With the upcoming completion of The Exchange, the newly-signed tenants have a chance to be in the heart of Vancouver’s financial district, while also close to other smart, innovative technology companies.”
The Exchange tower is slated for completion by the end of the year. More than 205,000 square feet is already leased, with an additional 165,000 square feet up for grabs.
