Rio Tinto, advised by Cushman & Wakefield (C&W), has completed a long-term lease with The Cadillac Fairview Corporation Ltd., on approximately 190,000 square feet of space in the new, LEED® Platinum (CS), Deloitte Tower in downtown Montreal.Quonet Canada
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Deloitte Tower by Cadillac Fairview is the first privately owned and financed commercial office tower to be built in Montreal's core in more than 20 years. This is the second major tenant mandate C&W has brought to the Deloitte Tower. Early this year C&W worked with the Deloitte real estate team to negotiate its lead tenancy of the tower.
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"We have worked with Rio Tinto for the past several years to examine all possible options, and develop a real estate strategy that met their evolving needs, while recognizing their important history in the city of Montreal," said Chuck Scott, Senior Managing Director, Corporate Occupiers and Investor Services at C&W. "This is a strategy that will support Rio Tinto and its employees for another generation."
"The Montreal market is at a tipping point - with exciting new space like Cadillac Fairview's Deloitte Tower, tenants are looking for options and bringing additional leverage to the negotiating table with their landlords," said Bernie Marcotte, Senior Managing Director for C&W in Montreal. "The market is primed for movement and we will continue to see big blocks of space move in the next few years."
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