Real Estate — August 29, 2011

bcIMC to launch sustainable new office development at 745 Thurlow, Vancouver

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VANCOUVER, Aug. 29, 2011 /CNW/ - British Columbia Investment Management Corporation (bcIMC) announced today plans for the construction of its newest development project, 745 Thurlow, a 400,000 square foot, "Triple A" office tower to be built to LEED® Gold standard, in downtown Vancouver.

Designed specifically for office tenants in Vancouver, 745 Thurlow's flexible architectural and mechanical design enables businesses, both large and small, to reduce space and save on operating costs.

"745 Thurlow is designed to meet the flexible needs of today's business," says Chuck Swanson, Vice President, Real Estate, bcIMC. "Companies today are looking to drive efficiency into their operations while they enjoy the lifestyle elements in a building like this that make the surrounding environment a better place to work and live. And they want this approach to be a sustainable one."

The first confirmed tenant of the office tower is McCarthy Tétrault, a leading Canadian law firm.

"The development of a new LEED® Gold office tower in the heart of downtown is a major vote of confidence in Vancouver's economy," says Vancouver Mayor, Gregor Robertson. "We've worked hard to foster a globally competitive business climate and it's great that bcIMC and Bentall Kennedy, leaders in sustainable office development, are choosing to invest in our city. This building will be an exciting addition both to our skyline and our workforce."

745 Thurlow is located at the corner of Thurlow and Alberni streets in Vancouver, where the business district meets the entertainment and shopping district.

"Alberni is the bridge between Georgia and Robson streets and reflects the movement from the more conservative office design towards some of the lifestyle elements found in the hospitality and tech park worlds", says Tony Astles, Executive Vice President, Bentall Kennedy, developer of the project.

"The design is more friendly, personal and responsive to the variety of tenant needs that are specific to Vancouver business. Today, people are looking for healthy, entertaining places to enjoy their work, places that will help to attract and retain their valued employees", says Astles.

The project, which will accommodate approximately 2,500 occupants, will include 365,000 s.f. of office space and 35,000 s.f. of retail space, and will be completed in the spring of 2015. Office floor plates will range from 15,000 s.f. to 21,000 s.f. The progressive design, developed by Architects Musson Cattell Mackey Partnership (MCMP), allows for the building floor plates to "grow" outward with each elevation above the 3^rd floor.

"This building strikes the strategic balance of efficiency, sustainability and comfort. This is a healthy step forward for building occupants", says Mark Thompson, Partner at MCMP.

About bcIMC
bcIMC is an independent investment management corporation that manages a globally diversified investment portfolio of $88.7 billion as at June 30, 2011. Based in Victoria, British Columbia and supported by industry-leading expertise, bcIMC invests in all major asset classes including infrastructure and other strategic investments. bcIMC's clients include public sector pension plans, public trusts, and insurance funds. For more information, please visit: www.bcimc.com.

About McCarthy Tétrault
McCarthy Tétrault provides a broad range of legal services, advising on large and complex assignments for Canadian and international interests. The firm has substantial presence in Canada's major commercial centres and in London, UK. Built on a unique model of collaboration, the firm brings its legal talent, industry knowledge and practice experience, wherever needed, to help clients achieve the results that are important to them. For more information, please visit: www.mccarthy.ca.

About Bentall Kennedy
Bentall Kennedy is one of North America's largest real estate investment advisors and one of its foremost providers of real estate services. Bentall Kennedy offers a comprehensive, integrated menu of asset and portfolio management, property management, leasing and development services. Bentall Kennedy serves the interests of more than 400 clients across 135 million square feet of office, retail, industrial, residential and hotel properties totalling $24 billion throughout North America. Bentall Kennedy has a 100-year track record of delivering superior returns and a reputation for integrity, innovation and creating value. Bentall Kennedy is a leader in responsible property investing. For more information, please visit: www.bentallkennedy.com.

About Musson Cattell Mackey Partnership
For over 4 decades MCM has shaped the downtown of Vancouver with their designs, including over a dozen office towers ranging in scale from 100,000 s.f. to up to 600,000 s.f. They have an in-depth understanding of both single and multiple tenancies in the Vancouver office market. In this time MCM has continually sought improvement to workplace solutions by incorporating appropriate technological innovations that increase thermal comfort, supply of fresh air, better lighting and access to daylight while conserving energy thereby contributing to an economic bottom line and sustainable environment. For more information, please visit: www.mcmparchitects.com.

Image with caption: "Artist's rendering of 745 Thurlow. (CNW Group/Bentall Kennedy)". Image available at: http://photos.newswire.ca/images/download/20110829_C6825_PHOTO_EN_2585.jpg

For further information:

For information about leasing opportunities, please contact:
Jeff Rank, Vice President, Project Development Marketing and Leasing, Bentall Kennedy at 604-661-5090 or jrank@bentallkennedy.com.

For all other inquiries, please contact:
Tony Astles, Executive Vice President, Bentall Kennedy at 604-661-5095 or tastles@bentallkennedy.com.

To learn more about 745 Thurlow, please visit: www.745thurlow.com.