Jacobs Engineering HQ in Calgary Sold for €96 Million

Germany Real Estate - September 14, 2007:

The KanAm grundinvest Fonds has invested in Canada for the first time. The fund has acquired the Jacobs Building in Calgary which is currently under development. The building is situated in the Quarry Park area, which is being realized to the southeast of the city. After delivery, planned for the summer of 2008, the building with four floors and a basement will offer a total surface area of approximately 32,000 m². A total of 1,528 parking spaces are planned on the more than 90,000-m² site. The building has already been fully leased on a long-term basis to the Jacobs Engineering Group. The total investment costs are approximately CA$150 million (approx. €96 million).

The Jacobs Engineering Group is the second largest supplier of technical services worldwide and has 70 offices with over 40,000 employees in 12 countries. A leasing contract has been signed for a period of 15 years.

The Jacobs Building will be the first office building in Quarry Park. Calgary’s first Lifestyle & Business Park with offices, retail, hotels, industry and housing will be developed in this area. The park can benefit from the excellent available infrastructure via its location next to two important motorways. For 2012, delivery of a Light-Railway connection is planned from the center of Calgary to the international airport.

The decision for the acquisition was taken among other things because of the excellent economic parameters for the location. Alberta is the richest province of Canada. It is leading in comparison to the rest of Canada according to the 2006 statistics in terms of economic growth, job market development, income per capita, population and retail trade growth. Calgary possesses the highest concentration of head offices after Toronto countrywide. Sphere: Related Content