State-of-the-art Tech Hub

Kanata North Technology Park

During Ottawa’s technology boom, Kanata’s technology community was lacking state-of-the-art space. Understanding that the market would continue to grow and demand for suitable space would outpace supply, Colonnade BridgePort proposed the development of the Kanata North Technology Park.

One of the key business challenges was that prospective tenants would be mainly entrepreneurial start-ups and young companies — not blue chip. The 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.

Leveraging extensive market knowledge, the Colonnade BridgePort team was able to articulate to investors where demand was coming from and why it would remain over the long term. Five- and 10-year leases with tenants were negotiated to secure construction financing and ensure reliable income over the medium term. Once the buildings were completed, the churn created by these growing companies was managed in order to keep the buildings occupied, the revenue stream secure, and the costs controlled. Colonnade Bridgeport also brought its 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.

Project Type:

Office Park

Structure:

Bentall Kennedy

Commercial buildings*:

6

Commercial SF*:

376,000

Services Provided:

Development, Project Funding, Leasing & Property Management

Value Drivers

  • Prime location served by Bus Rapid Transit (BRT)
  • New construction with modern finishes
  • Technology campus model
  • Professionally managed