Slate Office REIT Announces Significant Lease with Volta Labs at Maritime Centre in Halifax
TORONTO, ON – Slate Office REIT (TSX: SOT.UN) (the "REIT"), a leading owner of office properties in Canada, along with Volta Labs announced today the completion of a 60,000 square foot lease at the Maritime Centre, located at 1505 Barrington Street in Halifax, Nova Scotia.
Volta Labs currently occupies approximately 20,000 square feet of the nineteen-storey building. The new space, occupying the ground, mezzanine and second floors, will establish Volta Labs in the Maritime Centre as the cornerstone of the “Innovation District” in downtown Halifax.
The expansion, taking place in the Winter of 2017/2018, will allow Volta to better serve the technology community, offering more space for resident start-up companies, corporate innovation outposts, and network members. It will also offer a large multi-purpose space, private meeting rooms, and larger co-working spaces.
“These new headquarters will allow Volta to be the growth catalyst for Halifax’s technology community, establishing a home base inside the city's “Innovation District” and attracting new interest from entrepreneurs,” said Jesse Rodgers, CEO of Volta Labs. “For many reasons, Halifax is a great place to build a technology-focused company and we are looking forward to providing more resources to these businesses. Ultimately, this growth will result in new jobs and a massive economic impact for Nova Scotia.”
“Slate Office REIT has a long-term commitment to revitalizing Halifax's iconic Maritime Centre and we are proud that the building has become an integral part of Halifax’s “Innovation District”, with Volta as a marquee tenant,” said Scott Antoniak, Chief Executive Officer of the REIT. “Slate Asset Management has an excellent track record of repositioning assets and will bring this expertise to the Maritime Centre. We recognize the importance of the Maritime Centre’s location, design, amenities and function and its role in bringing together collaborative endeavours and ideas in the technology space,” Mr. Antoniak added.
Slate Management Corporation, a wholly-owned subsidiary of Slate Asset Management L.P. (“Slate”), is the REIT’s manager.
About Volta Labs
Volta is a vibrant super hub for tech companies, 600 network members, and corporate innovation partners, located downtown Halifax, Nova Scotia. Volta provides world class mentorship and support to new and growing start-ups and is a place where they can learn from each other, grow their companies and expand to global markets. More information at www.voltaeffect.com.
About Slate Office REIT (TSX: SOT.UN)
Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio currently comprises 38 strategic and well-located real estate assets located primarily across Canada's major population centres. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions. Visit slateofficereit.com to learn more.
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $4 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
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