Helmut Sass Phone interview

Aug 15, 1986

He purchased the Hamilton building and the Canadian

génperial Bank of Commerce building from the CIBC in August,’

‘,3 4. , ‘~‘a§' V

l98§, "I got them at a deal, but I committed myself to major renovations of the bank," Won't discuss purchase price because the price he paid wontt be what it will cost him to bring the CIBC back to code and find a suitable tenant, What kinds of tenants in his buildings? City and provincial government offices, legal firms, employment agencies, real estate companies, restaurants, clothing stores, banks. How does he get tenants? "Most of them come to us, we haven‘t beenagressivelyseeking tenants, blust hired a leasing manager, now that we have the Child‘s and Nanton buildings," Tenants are”eager to get in because we can offer a better rent and offer a better location," Rents for about $9 a square footg, The National Bank building rents will be

about $14 a square foot. l”And we have parking; It's not

ca real tough sell, once we get people coming in to look."

i The National Bank building is a bit tougher to rent because it stood virtually empty for 20 years, h”Qnce the National Bank moves in with four floors, it will come alive,"

Conventional spacesaTrizec buildingaegoes for about $16 asquare foot, i ”With the Core Initiative renewal, the CIBC is a

real high priority with them, Something will happen this year.”