The Royal Bank of Canada is finally finishing up its 250,000 s/f lease with Brookfield Properties at 3 World Financial Center.The Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. is finally finishing up its 250,000 s/f lease with Brookfield Properties Brookfield Properties Corporation TSX: BPO NYSE: BPO is a Toronto-based North American commercial real estate company. Brookfield Asset Management owns 50% of its outstanding common shares. at 3 World Financial Center. Although news of the deal was reported in May, sources say that the negotiations cooled in the ensuing months because the bank had concerns whether the space would constrict con·strict v. To make smaller or narrower, especially by binding or squeezing. its ability to grow. Brookfield Properties has leased most of the major blocks of vacancy left in its portfolio. The firm has a number of large leases set to expire in a few years, which may have ameliorated the bank's future need for space. It's not clear if it has formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. any expansion rights in its current lease. |
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