Canada’s Energy Capital: Hines Gains Tenants

In Calgary, Alberta, Canada, Houston-based Hines, the international real estate firm, has signed two tenants at the First Tower in downtown Calgary.

The two leases total 105,000 sq ft of office space in the 27-story building in Calgary, which is the epicenter of Canada’s energy industry.

The Calgary-based Symend, a technology company, has signed a lease for 79,000 sq ft.

Calgary-based Userful leased 26,000 sq ft. Userful is a visual networking platform for enterprise clients around the world.

“Hines’ focus on providing our employees with the highest level of health, safety and wellness at First Tower, especially in light of COVID-19, was a key factor in our decision to relocate to First Tower,” said John Marshall, CEO of Userful. “We looked at many buildings in the market, but chose First Tower for Hines’ flexibility, attention to detail and ability to create an environment that fosters work-life balance for our employees.”

In 2018, Hines, along with a subsidiary of real estate funds managed by Oaktree Capital Management, L.P., purchased First Tower, an office building totaling over 700,000 sq ft.

Hines, founded in 1957, has a presence in 225 cities in 25 countries.