May 19, 2020

Allied REIT invest $80mn in Montreal office space

Canada
property
pauline cameron
2 min
Allied REIT invest $80mn in Montreal office space

Allied Property will be renovating the 700 de la Gauchetière St property to make it more appealing to technology companies

Allied, a Toronto-based real estate investment trust, could spend more than $80 million to renovate the 700 de la Gauchetière St. W (700 DLG) building, recently vacated by the National Bank of Canada, according to Chief Executive Officer, Michael Emory. The renovation could start as early as 2020 and would look to make the space more open and appealing to technology companies, Emory said.

“Mission No. 1 for us in Montreal is 700 DLG,” Emory said. “It’s producing good income, but it’s very important that we show the world, and ourselves, that we can indeed transform the building the way we say we can. The nice thing about 700 is that it’s not financially urgent. It’s more reputationally urgent.”

De la Gauchetière, the 28-storey tower, was originally built for Bell Canada and comprises 900,000 square feet of office space. Allied paid C$322mn to acquire the property in July. Plans include stripping back drywalled pillars and lowered ceilings to bring in more “abundant” natural light, as well as rights to build an additional 300,000ft of additional office space on the northeast corner.

700 DLG already has tenants signed onto its lease and once the National Bank has vacated, Hydro-Québec will be the largest tenant with 12 years left on its lease.

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Th National Bank of Canada is due to leave the premises in 2022, moving to a new $500mn tower on St. Jacques St. W, the building will be 40 storeys tall when completed and will be one of the tallest on the Montreal skyline, offering 1mn square feet of commercial space.

The revamp is predicted to cost between $5mn and $15mn to complete, Emory said. Currently Allied owns 4.3mn square feet of office space in Montreal, including the video game giant Ubisoft’s offices in Mile End and the historic Nordelec, Canada’s largest brick and beam structure.

Speaking of the acquisition Emory said, “Everything that Allied owns in Montreal today, I envision Allied owning indefinitely,” he said. “We don’t build and sell, or redevelop and sell. When we make a big investment like we just did, we are making it to hold and have very good long-term income streams.”

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Jun 13, 2021

Marketing matters: from IBM to Kyndryl

CMO
Kyndryl
IBM
Leadership
Kate Birch
5 min
Former CMO for IBM Americas Maria Bartolome Winans was recently named CMO for Kyndryl. Maria talks about her new role and her leadership style

Former Chief Marketing Officer for IBM Americas, and an IBM veteran of more than 25 years, Maria Bartolome Winans was recently named CMO for Kyndryl.

Prior to joining Kyndryl as Chief Marketing Officer, Maria had a 25-year career at IBM, most recently as the tech giant’s CMO where she oversaw all marketing professionals and activities across North America, Canada and Latin America. She has held senior global marketing positions in a variety of disciplines and business units across IBM, most notably strategic initiatives in Smarter Cities and Watson Customer Engagement, as well as leading teams in services, business analytics, and mobile and industry solutions. She is known for her work with teams to leverage data, analytics and cloud technologies to build deeper engagements with customers and partners.

With a passion for marketing, business and people, and a recognized expert in data-driven marketing and brand engagement, Maria talks to Business Chief about her new role, her leadership style and what success means to her.

You've recently moved from IBM to Kyndryl, joining as CMO. Tell us about this exciting new role?

I’m Chief Marketing Officer for Kyndryl, the independent company that will be created following the separation from IBM of its Managed Infrastructure Services business, expected to occur by the end of 2021. My role is to plan, develop, and execute Kyndryl's marketing and advertising initiatives. This includes building a company culture and brand identity on which we base our marketing and advertising strategy.

We have an amazing opportunity ahead at Kyndryl to create a company brand that will stand apart in the market by leading with our people first. Once we are an independent company, each Kyndryl employee will advance the vital systems that power human progress. Our people are devoted, restless, empathetic, and anticipatory – key qualities needed as we build on existing customer relationships and cultivate new ones. Our people are at the heart of this business and I am deeply hopeful and excited for our future.

What experiences have helped prepare you for this new opportunity?

I’ve had a very rich and diverse career history at IBM that has lasted 25+ years. I started out in sales but landed explored opportunities at IBM in different roles, business units, geographies, and functions. Marketing and business are my passions and I landed on Marketing because it allowed me to utilize both my left and right brain, bringing together art and science. In college, I was no tonly a business major, but an art major. I love marketing because I can leverage my extensive knowledge of business, while also being able to think openly and creatively.

The opportunities I was given during my time at IBM and my natural curiosity have led me to the path I’m on now and there’s no better next career step than a once-in-a-lifetime-opportunity to help launch a company. The core of my role at Kyndryl is to create a culture centered on our people and growing up in my career at IBM has allowed me to see first-hand how to prioritize people and ensure they are at the heart of progress in everything Kyndryl will do.

How would you describe your leadership style?

I believe that people aren't your greatest assets, they are your only assets. My platform and background for leadership has always been grounded in authenticity to who I am and centered on diversity and inclusion. I immigrated to the US from Chile when I was 10 years old and so I know the power and beauty that comes from leaning into what makes you different from other people, and that's what I want every person in my marketing organization to feel – the value in bringing their most authentic self to work every day. The way our employees feel when they show up for themselves authentically is how they will also show up for our customers, and strong relationships drive growth.

I think this is especially true in light of a world forever changed by the pandemic. Living through such an unprecedented time has reinforced that we are all humans. We can't lead or care for one another without empathy and I think leaders everywhere have been reminded of this.

What’s the best leadership advice you’ve received?

When I was growing up as an immigrant in North Carolina, I often wanted to be just like everyone else. But my mother always told me: Be unique, be memorable – you have an authentic view and experience of the world that no one else will ever have, so don't try to be anyone else but you.

What does success look like to you?

I think the concept of success is multi-faceted. From a career perspective, being in a job where you're respected and appreciated, and where you can see how your contributions are providing value by motivating your teams to be better – that's success! From a personal perspective, there is no greater accomplishment than investing in the next generation. I love mentoring younger professionals – they are the future. I want my legacy as a leader to include providing value in work culture, but also in leaving a personal impact on the lives of professionals who will carry the workforce forward. Finding a position in life with a job and company that offers me a chance at all of that is what success looks like to me.

What advice would you give to your younger self just starting out in the industry?

I've always been a naturally curious person and it's easy for me to over-commit to projects that pique my interest. I've learned over years of practice how to manage that, so to my younger self I’d say… prioritize the things that are most important, and then become amazing at those things.

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