Press release from Business Wire
ACCO Brands Canada Extends Brampton, Ontario Lease for Ten Years
<p class=' bwtextaligncenter'> <i><b>Signals Ongoing Commitment to Canadian Office Products Market</b></i> </p>
Wednesday, September 15, 2010
ACCO Brands Canada Extends Brampton, Ontario Lease for Ten Years11:04 EDT Wednesday, September 15, 2010 BRAMPTON, Ontario (Business Wire) -- ACCO Brands Canada, Inc., a subsidiary of ACCO Brands Corporation (NYSE: ABD), today announced that it has signed a definitive agreement extending the lease on its Canadian manufacturing, distribution, and administrative office center through March 31, 2020. The property, located at 5 Precidio Court, Brampton, Ontario, is leased from Bentall LP. Bentall is the largest Canadian-based real estate advisory and services organization. The 200,000-square-foot facility serves as the ACCO Brands headquarters in Canada. It also houses a manufacturing plant, where the company produces three-ring binders, and the company's distribution center for all of its customers in Canada. ACCO Brands is a world leader in select categories of branded office products, and some of its best-known brands include Day-Timer® (time-management products), Swingline® (staplers and trimmers), Kensington® (computer accessories), Quartet® (dry-erase boards), GBC® (binding and laminating equipment and supplies), and Wilson Jones® (binders). Approximately 285 people are employed at the facility. “We are excited about the opportunities that lie ahead, especially with our footprint established for the foreseeable future,” said Ed Lovekin, Vice President and General Manager, ACCO Brands Canada. “Our lease extension signals our continued commitment to the Canadian office products market, as both a manufacturer and a supplier of branded office products, computer accessories, and print finishing solutions. Our employees are pleased that we'll be staying at this strategically located facility, and they are looking forward to the improvements we will be making to the property.” With the assistance of Colliers International, the company evaluated a number of alternative options in the greater Toronto area and it was clear that the current premises were still the best site for the long term. Under the terms of the extension, the landlord has agreed to assist ACCO Brands in completing a number of property improvements to the interior and exterior of the building. In addition, ACCO Brands has the ability to expand the premises by a minimum of 25,000 square feet to meet growing business needs. “Bentall LP is delighted that ACCO Brands will continue its strong relationship and this long-term tenancy with Bentall,” said Francis Navaratnam, Vice President, Bentall LP.