Imperial Oil Inks 811,000-SF Deal in Quarry Park

CALGARY-In a consolidation move, Imperial Oil Ltd. signed a long-term lease for 811,000 square feet in a project to be developed in the Quarry Park submarket. The company plans to relocate its approximately 2,300 employees from the CBD to the new corporate campus between 2014 and 2016.

The new campus, located in Calgary's southeast submarket, will be situated on 20 acres and, according to the Calgary Herald, will consist of five low-rise buildings offering office space, food service, support facilities a wellness center and other employee amenities. Canada-based Remington Development Corp. will develop the campus, which will comply with LEED Gold building standards.

The deal was negotiated by Jones Lang LaSalle’s Houston office. The team was led by executive vice president Ronnie Deyo and included executive vice president Garrold Parratt, vice president Beau Bellow and Calgary-based executive vice president Andrew MacLachlan.

“This move represents an opportunity for IOL to consolidate its offices in one location with additional space for expansion and create a great working environment for their people.” Deyo says in a press release. “Remington Development’s plans include five new built-to-spec state-of-the-art office properties as well as a hotel, fitness center, restaurants, and other amenities that will be very attractive to employees and offer an opportunity to live, work and play in one location.”

Imperial Oil employees currently operates out of three downtown buildings; on Fifth Avenue Place; 2^nd Street Southwest (formerly known as Esso Plaza) and BP Centre, located across the street. The new campus will have capacity for up to 3,000 employees.