Reliance Properties has bought the Upper Harbour Place buildings on Tyee Road in Vic West.
鈥淲e do have a firm contract to purchase,鈥� Jon Stovell, president of Reliance, wrote in an email Wednesday.
Sun Life Assurance Company of sa国际传媒 had listed the Class A office space for sale through Colliers Macaulay Nicolls Inc. since April.
The two buildings comprise 147,302 square feet of space above Dockside Green on the Upper Harbour, adjacent to the Bay Street Bridge.
In its offering summary, 颅Colliers said the five-storey Upper Harbour Place 2, built in 2007, has 83.5% occupancy and six tenants, including the sa国际传媒 and Amazon-owned Abebooks.
The four-storey Upper 颅Harbour Place 1, built in 2003, has five tenants, 颅including 颅provincial government 颅ministries. It has an occupancy rate of 88.6%.
Other major tenants in the buildings include Read Jones Christoffersen, 颅Pharmaceutical Research Associates, 颅Stantec Consulting and the sa国际传媒 颅Construction Association.
Reliance Properties, based in Vancouver, has been an active player in Victoria鈥檚 development scene. The company received council approval in early August for its plans to redevelop the heritage Northern Junk 颅buildings.
Reliance also redeveloped the Janion Hotel property in 2013.
The company is proposing a 6.7-acre re-imagining of Victoria鈥檚 downtown in what could be one of the city鈥檚 biggest redevelopments.
Reliance is proposing a 颅transformation from the 颅foreshore of Victoria鈥檚 Upper Harbour east to Government Street, between Discovery and Chatham streets. The area includes the 颅historic Capital Iron building and its parking lot, Mark鈥檚 Work 颅Wearhouse and other stores.
The Victoria 3.0 plan, adopted by council last year, calls for an arts and innovation district in the area. Reliance鈥檚 plan caters to the vision, with live/work studios for artists and a proposal to provide land at the corner of Store and Discovery streets to the Art Gallery of Greater 颅Victoria.
