Lululemon leases additional 120,000 square feet of Vancouver office space

Leisurewear giant has leased nine floors at Burrard Place, at corner of Burrard and Drake streets

Burrard Place
Burrard Place will have a three-storey Jim Pattison Toyota dealership on the ground floor | Rob Kruyt

Vancouver leisurewear giant Lululemon Athletica Inc. (Nasdaq: LULU) has leased 120,000 square feet in the Burrard Place office building at 1280 Burrard Street.

The lease includes nine floors at the newly built 13-storey building at the corner of Burrard and Drake streets, but the site is not going to become the company's global headquarters, Lululemon's director of global corporate communications Erin Hankinson told BIV.

"We continue to occupy all of our other office space locations across the city," she said.

Lululemon leases office space at 1818 Cornwall Avenue, in a building at the corner of Burrard Street and Pacific Boulevard, and at a site on Homer Street. Hankinson was not able to immediately say how many square feet of space the company leases in those locations.

Burrard Place is part of a three-tower project that Jim Pattison Developments and Reliance Properties are developing in the block bounded by Burrard, Drake, Hornby and Davie streets. Reliance plans to develop on its own a fourth tower in that block, at the corner of Hornby and Davie streets, where a 7-Eleven now operates. That fourth tower is set to soon go through rezoning, Reliance Properties CEO Jon Stovell told BIV. 

Lululemon's lease is for Burrard Place's fourth floor and then floors six through 13. Entrepreneur Don Copeman's Harrison Healthcare has leased the building's fifth floor. The bottom three storeys of  Burrard Place is set to be a Pattison Toyota dealership.

"There's also a 3,000-square-foot restaurant space that is still available in the bottom of that office building," Stovell said. 

Burrard Place's shell is complete, with tenants able to now complete improvements to their space and move in later this year. 

Burrard Place is west of a 60-storey tower at the corner of Drake and Hornby streets. That tower, dubbed One Burrard Place, has about 4,900 square feet of retail space at ground level that has yet to be leased. It also has a vehicle showroom that is about 1,500 square feet, Stovell said. Above that is three levels of strata office space that has all been sold. The building also contains two floors of rental homes with the rest being strata homes. 

Two Burrard Place is a yet-to-be-built, 35-storey tower immediately north of One Burrard Place, mid-block between Drake and Davie streets on Hornby Street. It also has retail space at street level that has yet to be leased. Above that is three levels of strata office space that is approximately 60-per-cent sold, three levels of rental homes, and the rest is strata homes. 

"In One Burrard Place, we're just renting the residential now, and then in Two Burrard Place, we will be renting the residential when it is built," Stovell said. 

gkorstrom@biv.com

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