Market Overview

Brookfield Office Properties Breaks Ground on Brookfield Place Calgary Office Development Project

Brookfield Office Properties Inc. (NYSE: BPO) today broke ground on the first phase of the Brookfield Place Calgary office development project. The 1.4-million-square-foot first phase, or east tower, at 56 storeys or 247 metres in height, will be the tallest structure in western Canada upon its completion. Cenovus Energy is anchoring the east tower with a 1-million-square-foot commitment.Brookfield Place Calgary, located at the former site of the Calgary Herald building, is a full-block development site in the heart of downtown, bounded by 1st and 2nd Streets SW and 6th and 7th Avenues SW. Completion of the east tower is expected in the latter half of 2017. It is expected that Cenovus will occupy its one million square feet by Q1 2018."Several years ago we identified this block as the best-located parcel of underdeveloped land in the city, and today we begin construction on what will be the tallest structure in Western Canada," said Jan Sucharda, president and chief executive officer of Brookfield Office Properties' Canadian Commercial Operations. "Getting to this day, where the dream becomes reality, was only possible thanks to the hard work and support of so many, including His

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