HALIFAX – A massive commercial development in the heart of downtown Halifax has secured a major tenant.
BMO Financial Group (TSX:BMO) says its Atlantic Canadian headquarters and support services will move to Nova Centre’s office tower, which will be branded as BMO Tower under a 10-year lease agreement and naming rights deal.
“Today we achieved a ten year lease agreement with a twenty year option to renew,” said Carolyn Booth of BMO.
The main branches of BMO Bank of Montreal and BMO Nesbitt Burns – already located in downtown Halifax – will move to the tower at the corner of Argyle and Prince streets, along with BMO private banking, commercial and corporate finance operations.
The bank’s main Halifax branch is expected to open in December 2016 on the tower’s main floor, with the remaining operations and services moving into their new spots the following March.
BMO says some 200 employees will work in the building, which remains under construction.
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“We are trying to be (finished on time), we won’t know for sure until we get this winter behind us,” said Joe Ramia, a developer with the Nova Centre.
Argyle Development Ltd.’s project – one of the biggest the East Coast has ever seen -will eventually occupy two city blocks and include offices, hotel rooms, condos and a convention centre.
With files from Dave Squires.
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