Scotiabank Sells Historic Scotia Plaza Headquarters for 1.3 Billion Dollars

From my blog at

Earlier this year the Bank of Nova Scotia (Scotiabank) sold its historic headquarters at the corner of King and Bay to Dundee Real Estate and HR Developments for a Canadian record $1.27 billion dollars. The deal included not on the 1950's historic Art Deco skyscraper, but also the newer 1980's built 68 floor modern postmodern Highrise for which the entire complex takes its name.

Scotiaplaza is the third tallest skyscraper in Canada standing 275 meters tall. It was built in 1988 around the older Bank of Nova Scotia headquarters. The bank is located across the street from the headquarters of Toronto Dominion Bank (TD Bank), The headquarters of the Bank of Montreal (BMO), and The headquarters of the Canadian Imperial Bank (CIBC). The bank is connected to the PATH which links through the concourse levels to the other banks and through them the entire underground network.

The building has 2 million square feet of space and was built by Campeau Corporation and the Bank of Nova Scotia and the contractor was PCL Construction Engineers.