True North announces early lease renewal with comms tech manufacturer

True North announces early lease renewal with comms tech manufacturer

True North announces early lease renewal with comms tech manufacturer True North Commercial Real Estate Investment Trust (TSX: TNT.UN) has declared its early renewal of a lease with EMS Technologies Canada, Ltd., a designer and fabricator of satellite communications technology for terrestrial and space applications.

The renewed space totaled 107,243 square feet, and extended the Honeywell International Inc. subsidiary’s 10-year occupancy at 400 Maple Grove Road, Ottawa, Ontario for another 7 years. EMS currently occupies the two-storey Maple Grove office building.

“It is the REIT’s intention to refinance the mortgage on the property for a further seven years to coincide with the new lease maturity,” True North announced.

“EMS complements our strategic focus of securing government and credit-worthy tenants,” True North president and CEO Daniel Drimmer added. “We are pleased to have this early renewal which ensures EMS continues to occupy a building that is uniquely suited to their needs and our unitholders have the security of a long-term credit rated tenant.”\


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