Kanata North Technology Park
11, 40, 50, 80 & 84 Hines Road / 495 & 505 March Road, Ottawa, Ontario
Meeting the need for a state-of-the-art technology hub
During Ottawa’s technology boom, Kanata’s technology community was sorely lacking state-of-the-art space. Based on our understanding of the market we were convinced demand would continue to outpace supply, so our team proposed the Kanata North Technology Park. The challenge was the prospective tenants would be mainly entrepreneurial start-ups and young companies — not blue chip. Our capital partners needed to be convinced that these companies could create a sustainable revenue stream to justify the significant capital investment to develop new buildings to meet their demand.
With our “boots on the ground” market knowledge, we were able to articulate to investors where demand was coming from and why it would remain over the long term. We negotiated five- and 10-year leases with tenants to secure construction financing and ensure reliable income over the medium term. Once the buildings were completed we managed the churn created by these growing companies to keep the buildings occupied, the revenue stream secure and the costs controlled. We also brought our own equity to the table.
The property has had multiple investors since construction, with the original capital contributors exiting to institutional partners who continue to get strong performance out of the assets due to ongoing demand.