Here's What Burlington Just Spent Millions On
It’s prime office space in downtown Burlington.
And now it has a familiar owner.
The City of Burlington once again officially owns 390 Brant St., known as Sims Square.
The price tag: $17.5 million.
The location was once a city park, but Sims Square was sold in the 1980s to help create office space in the downtown.
Space at the address has been leased for employee use since 2005.
"Buying the building and property at 390 Brant St. positions the city to ensure that existing office tenants are maintained and that quality space continues to be available for future employment generation in the downtown,” said deputy city manager Mary Lou Tanner.
“The purchase of 390 Brant St. is considered a strategic acquisition. It will protect office use in downtown Burlington and will be a financially sustainable investment for the City of Burlington."
Photo courtesy of the City of Burlington
The city uses 21,736 square feet of the building, which is one-third of the building's leasable floor space, to house four city departments and project teams.
City operations at 390 Brant include the finance, legal and human resources departments, plus some services from capital works and parks and recreation, including festivals and events.
The six-storey building has 61,000 square feet, a surface parking lot and underground parking.
The city is planning to maintain the current tenants and contracts “to ensure seamless operation” of 390 Brant St., according to officials, and all existing leases in the building “will remain in place with few changes to the current operation of the building.”
City staff will be managing and operating Sims Square “as a distinct business unit” separate from City Hall operations.
Possession took place on Feb. 5.