Department of National Defence acquires two properties for $59 million
DND bought office and industrial buildings on Star Top Road in one of the largest real estate transactions in the National Capital Region this year.
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The Department of National Defence has acquired two office and industrial properties at 1600 and 1630 Star Top Road from Arnon Corp. for $59 million, a DND spokesperson confirmed this week.
The two-building complex at the corner of Star Top and Innes roads covers 279,263 square feet. DND has leased the four-storey, 223,000-square-foot building at 1600 Star Top Road since it opened in 2004. The building includes about 210,000 square feet of office space and 13,000 square feet of industrial space. DND also leases the neighbouring facility at 1630 Star Top Road.
After considering its "evolving long-term requirements," DND decided its "needs would be best served through direct ownership of the properties." The facilities will "continue to support longer-term DND and Canadian Armed Forces operational requirements in the National Capital Region." The acquisition reflects the federal government's increased defence spending and military recruitment efforts as part of its pledge to spend the equivalent of five per cent of Canada's gross domestic product on defence by 2035, up from two per cent today.
