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Introducing Stephen Avenue Place

Today, the Slate Canadian Real Estate Opportunity Fund I announced a new name for its 40 storey tower at 700 2nd Street in Calgary: Stephen Avenue Place

It also announced that it has partnered with Oliver & Bonacini Hospitality and Concorde Entertainment Group to create three new dining destinations at the property: a top floor restaurant, a food hall, and a high-energy restaurant/bar/patio at street level.

Here are a couple of excerpts from today’s press release:

Stephen Avenue Place offers 620,000 square feet of rentable space at the nexus of the historic Stephen Avenue Walk and 2nd St. This classic of the Calgary skyline will undergo a significant renovation – from its public-access ground floor to exclusive tenant amenities and top-floor restaurant – that will reposition it as a modern hub for energy, innovation, business, dining and shopping.

The acquisition and renovation of Stephen Avenue Place is part of Slate’s growing investment in Calgary. In the past 18 months, Slate has increased its footprint in Calgary to 2.3 million square feet with the purchase of 21 office properties, including 12 downtown.

“We are thrilled to acquire and develop such a high-quality property in downtown Calgary that offers businesses, diners and shoppers the very best in location, amenities and access,” said Slate founding partner Blair Welch. “Stephen Avenue Place will undergo an extensive renovation to fully reflect the way we work and live now, while respecting and celebrating its history and future as a Calgary landmark.”

For the full press release, click here. And to learn more about Stephen Avenue Place, including leasing opportunities, click here.

Disclosure: As many of you already know, I work for Slate Asset Management L.P. I am responsible for the company’s ground-up development efforts.

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