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Real estate transactions: Plans for Canada's other CN Tower

Many people do not realize that there are actually two CN Towers in Canada. The other is in Edmonton, Alberta and when it comes to real estate transactions, the 27-storey building in the city's downtown core, which CN vacated in 2008, is set to get a new lease on life. The new owner is turning the building into an office complex and has already updated the elevator, mechanical and building security systems.

The CEO of the company that purchased the building said renovations on about 156,000 square feet of the space have been completed and ready for new tenants. The building has a total of 254,000 square feet. With the ever-changing office market in Alberta, the company is flexible regarding new companies and startups. It will gladly help these companies with their space needs as they grow.

Aside from the two major lessees of the building, other occupants include companies with a technological base. Other firms who have lease agreements specialize in architecture, engineering, tax accounting and law. The lobby has been renovated and a new fitness centre is set to open soon. Space has been designated for bicycles and a main floor daycare. The entrance will get new lighting and a freshened up look.

The real estate business can be exciting and lively. Real estate transactions in Alberta are healthy in an economy that is finally on the upswing. Real estate laws can be perplexing at times though, and a lawyer experienced in this area of law can provide ongoing advice to buyers or sellers.

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