ForImmediateRelease

PacificCentreUnveilsPlansforRedevelopmentof

FormerSearsBuildingCompanyextendsshoppingcentretoRobsonStreet,addsuniqueofficespace

Vancouver,B.C.;September17,2012–PacificCentreshoppingmallispleasedtoofficiallyunveiltodayplansforitshigh‐profilepropertyatRobsonandGranville.Thecompanyisundertakingamulti‐milliondollarredevelopmentoftheexistingbuildingtoaccommodatethearrivalofNordstrom,whilecreatingnewretailandcommercialmixed‐usespace.“Thisisanextremelyexcitingstageinourevolution,”saysTomKnoepfel,SeniorVicePresidentandPortfolioManager,CadillacFairview.“TheseplansreinforcePacificCentre’sreputationasdowntownVancouver’spre‐eminentmixed‐useproperty.PacificCentrewillspanfromPenderStreetallthewaytoournewentranceonthecornerofRobsonandGranville.Thiswillbeakeyfactorinthecentre’scontinuedsuccess.”Thebuilding’sshellwillremain,butthestructurewillfeatureanewexteriordesignaspartofNordstrom’sarrivalandbere‐cladinglass.Nordstromwilloccupy230,000squarefeetonthreefloors,includingthestreetlevel.Anew48,000squarefootmulti‐tenantretailspacewillbebuiltonthelowermalllevel,andthetopfourlevelsofthebuildingwillbeconvertedto280,000squarefeetofAAAclassofficespace.TheprojectistargetingLEEDCertificationundertheLEED:Core&ShellProgram.Theofficespaceiscomprisedoffour70,000squarefootfloorplateswith17‐footceilings,slabtoslab.Itwillalsooffertwoatriumsandalandscapedroof‐topamenity.ThespacesitsatopPacificCentrewithinterioraccessto:SkyTrainandCanadaLine,sixofficetowers,andtheFourSeasonsHotel.“Thereisnootherofficespacelikethisinthedowntowncore,”continuesKnoepfel.“Theseareverylargefloorplateswhicharenotcurrentlyavailableintheheartofthecity.Theywillbeattractivetobusinesseswhowouldnotnormallyconsiderdowntownduetothelackoffloorplatespace.”TheprojectwasdesignedbyJamesK.M.ChengandthecontractoristheLedcorGroup.CallisonwillserveasthearchitectfortheNordstromspaceandisconsultingwithJamesK.M.Chengaspartoftheprojectdesignprocess.ConstructionisscheduledtobegininNovemberandwilltake18to24monthstocomplete.Newretailstoresonthelowerlevelareexpectedtoopeninlate2014whileNordstromandtheofficespacearetoopenin2015.Pre‐leasingfortheofficeandretailspaceiscurrentlyunderway.

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Page2CompanyextendsshoppingcentretoRobsonStreet,addsuniqueofficespaceAboutPacificCentreAwell‐knownlandmarkintheheartofdowntownVancouver,PacificCentreisthecity'spremiermixed‐useoffice,retail,andhotelcomplex.Thecentreopenedin1971andnowencompassesmorethan2.8millionsquarefeetofgrossleasablearea.Withmorethan18millionpedestriantrafficvisitsperannum,PacificCentreisVancouver’sleadingfashiondestinationandoneofCanada'stopperformingshoppingcentres.PacificCentrefeatures100storesincludingaflagshipHoltRenfrew,H&M,HarryRosen,Sephora,andApple.AboutCadillacFairviewTheCadillacFairviewCorporationLimitedisoneofNorthAmerica'slargestinvestors,ownersandmanagersofcommercialrealestate.Formorethan50yearsCadillacFairviewhasbeenleadingthewayincommercialrealestatewithinnovativedesign,developmentandmanagement.Withaportfoliovaluedatmorethan$20billion,CadillacFairviewanditsaffiliatesownandmanagenearly47millionsquarefeetofleasablespaceat83propertiesacrossNorthAmerica,includingsomeofCanada'slandmarkdevelopments,suchasToronto‐DominionCentre,TorontoEatonCentre,PacificCentre,andChinookCentre.

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