CN will be relocating its head office to Kevric’s latest redevelopment in downtown Montreal

MONTREAL, May 09, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) and Kevric jointly announced today that CN will relocate its headquarters to Kevric’s 600 DLG project, located at 600 De La Gauchetière West. The 20-year lease begins in 2028 and covers the building's first 18 floors, totaling more than 440,000 square feet. CN will start moving certain departments as of 2026.

"CN has been part of downtown Montreal’s DNA for over 100 years. Maintaining our headquarters’ presence in the city’s core is integral to our identity. Our employees are our greatest competitive advantage and we were careful in choosing our new headquarters. We want to keep inspiring greater innovation and collaboration in a workplace that will nurture our employees’ growth.'"

-   Ghislain Houle, Executive Vice-President and Chief Financial Officer, CN

"We are proud to welcome CN's head office at 600 DLG. This commitment by such a large organization confirms the importance of efficient, central work environments for corporations. We firmly believe in the crucial role of high-quality downtown office buildings in sustaining downtown Montreal's role as an economic engine. 600 DLG is the latest example of this conviction, and its transformation showcases our proven expertise in executing complex and visionary projects."

-   Richard Hylands, President & Founder, Kevric

About 600 DLG

Kevric is undertaking this transformation by applying the best practices in sustainable development. From the outset of the design process, the project focused on its environmental footprint to minimize and ultimately offset its embodied carbon emissions. The renovation also aims to reduce the building's annual operational environmental footprint to deliver a fully carbon-neutral office building in downtown Montreal. 600 DLG is the prime address for organizations that have fighting climate change as a corporate priority.

Located in the Quartier International de Montréal, the tower's thorough transformation will provide CN employees with a state-of-the-art, performance-focused work environment. In this highly sought after downtown business district, CN's head office will stand alongside those of other major international organizations, all benefiting from the evolving mixed-use dynamism of the area. The iconic building north of Square Victoria will feature the CN logo, and a new name to be chosen by the North American transportation leader.

The complete redevelopment of the tower will provide a next-generation work environment to its occupants. Its building envelope is being entirely replaced to feature larger windows and a new architectural signature. This will provide the floors with panoramic views, more natural light and better energy efficiency. The integration of touchless access technologies, motion-sensing lighting controls and automated window shades will ensure the state-of-the-art workspaces allow organizations and their teams to focus on exceeding their business objectives, developing innovative new opportunities and nurturing their corporate culture.

The new main entrance, under construction at the De La Gauchetière W. and Beaver-Hall intersection, will be integrated with a modernized Square-Victoria entrance to reconnect the tower with the surrounding area. Forming a new architectural atrium, these entrances will add to 600 DLG’s unparalleled connectivity, which includes direct interior access to the Square Victoria - OACI metro station and to Montreal's underground pedestrian network (RESO), frontage on the Express Bike Network (EBN), proximity to the REM's Gare Centrale station, and fluid connections to downtown’s main traffic arteries.

The relocation of CN's head office to 600 De La Gauchetière W., adds to the building's existing tenants (Raymond Chabot Grant Thornton, Logistec and Alten Canada), bringing the office tower's occupancy rate over 80%, leaving only the tower’s five top-floors, known for their panoramic views, as still available.

About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. CN's network connects Canada’s Eastern and Western coasts with the U.S. South through an 18,800-mile rail network. CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

About Kevric
Over the years, Kevric Real Estate Corporation has established itself as a leader in the Canadian real estate sector. Its ever-growing presence in the Montreal, Toronto and the National Capital regions has positioned it among the top commercial real estate developers, private owners, and property managers in Canada. Kevric holds solid expertise in complex and visionary transformation projects: the firm stands out for its bold and entrepreneurial approach to tackling major challenges. Kevric's expertise in identifying, acquiring and repositioning properties has allowed it to create multiple first-class assets, thereby generating significant returns for its partners. Through its iconic projects, notably 600 DLG, the Air Canada Tower and Place Bonaventure, Kevric is firmly anchored in the Quartier international de Montréal business district.

Kevric provides specialized services in redevelopment and ground-up development, property & asset management, leasing and project financing. It currently owns and manages properties in the Greater Toronto Area and downtown Montreal.

For Kevric, please contact:
Francesca Jacob-Thibault
Citoyen
Phone: +1 (418) 569-8707
Email: francesca.jacob-thibault@citoyen.com

For more information about 600 DLG, please contact:
Marie-Ève St-Arnaud
Kevric
Phone: +1 (514) 397-2220
Email: ME.StArnaud@kevric.ca

For CN, please contact:

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bd512785-92c2-47ad-a8b4-01d8cbee5bc4