Photo credit: Brandon Haase.
From left to right: Mark Petznick (NKF Devencore), Vince Brown (Triovest), Harold Reinders (Maple Reinders), Gino Riola (Allianz), Chris Holtved (HOOPP), Doug Craig (Mayor of Cambridge), MP Bryan May (MP for Cambridge), MP Marwan Tabbara (MP for South Kitchener-Hespeler), Derek Boyne (Triovest).
New Trends in The Real Estate Industry Show Larger Firms Are Going to Flex Space Campus Option to Meet Needs
TORONTO, ONTARIO - On August 24, 2017 Newmark Knight Frank Devencore (NKF Devencore) joined Allianz Global Assistance (Allianz) for the ground breaking ceremony starting construction on their new state of the art campus in Cambridge, ON.
With over 600 employees their current complex could no longer accommodate Allianz's long-term growth requirements under one roof. NKF Devencore was tasked to find a solution that solved both immediate and long term growth and accommodation requirements. Allianz required a space that could be customized to create an employee friendly working environment, above average parking capacity, as well as high visibility.
Allianz Chief Executive Officer Phil Hibbert commented, "As Allianz continued to grow to over 600 employees we decided to invest in the future and relocate our operations to a larger facility. The entire team looks forward to 2019 when Allianz will relocate to the new 115,000 square foot state of the art campus."
After two years of work, NKF Devencore was able to source an unknown opportunity that fit Allianz's criteria. NKF Devencore negotiated a transaction that allows Allianz to design and build a state of the art campus environment within budget, with occupancy set for late 2018. The campus will have above average parking, superior signage facing the 401 and walkable amenities a few hundred metres away.
"The trend in the real-estate industry is that larger firms are moving to a single floor plate, flex space campus option as opposed to a traditional building, said Mark Petznick, Principal and Senior Vice President Sales Representative for NKF Devencore. "This is a cost effective, highly-efficient choice that allows firms to build out to meet workplace demands."
NKF Devencore Senior Vice President and Managing Principal Rob Renaud commented, "The team at NKF Devencore was successful in negotiating a great transaction for Allianz's future location, with all requirements met within budget. We are thrilled to see construction start on this forward-thinking vision."
The site is owned by the Healthcare of Ontario Pension Plan (HOOPP).
About Newmark Knight Frank Devencore
As part of Newmark Knight Frank, one of the world's leading commercial real estate advisory firms, Newmark Knight Frank Devencore is Canada's largest corporate real estate advisor and brokerage, exclusively representing corporate, industrial and retail space users. With offices across the country, Newmark Knight Frank Devencore offers its global clientele comprehensive services that are individually designed to ensure executive real estate decisions are supported by effective strategies and professional execution. To learn more about our capabilities, please visit www.devencorenkf.com.
About Newmark Knight Frank
Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NFK is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
Allianz Global Assistance (Canada)
For more than 50 years, Allianz Global Assistance has supported travelling Canadians when they need it most with value-added travel insurance and assistance services. More than 800 employees support long-term partnerships with some of the best known brands in the travel and financial services markets. Allianz Global Assistance also serves as an outsource provider for in-bound call centre services and claims administration for health insurers, property and casualty insurers and credit card companies. Allianz Global Assistance is a specialist brand of Allianz Worldwide Partners for assistance and travel insurance, and is the registered business name for AZGA Service Canada Inc. and AZGA Insurance Agency Canada Ltd. For more information, visit www.allianz-assistance.ca.
Allianz Worldwide Partners
Dedicated to bringing worldwide protection and care, Allianz Worldwide Partners are the leader in assistance and insurance solutions in the following areas of expertise: assistance, international health & life, global automotive and travel insurance. Known for embracing innovation and change, the Group offers a unique combination of insurance, service and technology. These solutions are available to business partners or via direct and digital channels under three trusted commercial brands: Allianz Global Assistance, Allianz Worldwide Care and Allianz Global Automotive. This global family of over 17,500 employees is present in over 76 countries, speaks over 70 languages and handles 44 million cases per year, protecting customers and employees on all continents. For more information, please visit www.allianz-worldwide-partners.com