Morguard Celebrates Grand Opening of Plus 15 Walkway Extension at Calgary's Penn West Plaza

Morguard's investment connects building at 215 9th Avenue SW to one of the world's most extensive pedestrian walkway systems

MISSISSAUGA, ON, Sept. 26, 2019 /CNW/ - Morguard Real Estate Investment Trust ("Morguard" or the "Trust") (TSX: MRT.UN) will celebrate the grand opening of a new segment of Calgary's Plus 15, today. The newest addition to the network connects the building at 215 9th Avenue SW to Gulf Canada Square and the system's 83 bridges and nearly 16 kilometres of sheltered elevated pedestrian walkways.

Plus 15's new segment features a sweeping curved bridge with a visually-stunning LED-illuminated exterior and contemporary single-mast design, while providing Calgary's pedestrians with increased ease of movement throughout the walkway system. Interior details will echo the exterior design.

"Contributing to Calgary's Plus 15 system expansion underscores our mandate to invest in strategic projects that benefit our tenants and serve the communities in which we operate," said K. Rai Sahi, Chairman and Chief Executive Officer, Morguard.

"The newest extension to Plus 15 enhances our building's profile and confirms Penn West's place as one of Calgary's prominent office properties," said Randy Borisenko, Regional General Manager, Calgary. "We are thankful for the local government, planning and construction partners, and our tenants at Penn West Plaza who worked with us to bring this project to completion."  

The project was completed thanks to the collaboration with the City of Calgary, Calgary Parking Authority and CP Rail among other partners, led by Morguard. The original design of the bridge was created by Abugov Kaspar Architects, and construction and project management were co-led by EllisDon and Concept Consulting.

Penn West Plaza is one of Calgary's premier Class "A" buildings. The property features a dual tower complex with 636,324 square feet of office space and 30-storeys combined between its 10-storey East Tower and its 20-storey West Tower. Both towers have access to an immediate working population of over 14,000 people and a traffic count of over 24,000 cars daily.

About Morguard Real Estate Investment Trust
The Morguard Real Estate Investment Trust is a closed-end real estate investment trust, which owns a diversified portfolio of 48 high quality retail, office and industrial income producing properties in Canada consisting of approximately 8.4 million square feet of leaseable space.

For more information, visit Morguard.com

SOURCE Morguard Real Estate Investment Trust