MONTREAL – Cushman & Wakefield’s Commercial Real Estate Brokers Lloyd Cooper, Vice Chairman; Erik Langburt, Executive Vice President; and Sean Greenspoon, Associate, secured a 32,500-square-foot (sf) office lease with U.S.-headquartered workforce management and human capital management (HCM) cloud solutions leader Kronos Incorporated, in Midtown Montréal’s Chabanel District.
Kronos will move from its current Côte-des-Neiges district location, where the company has been established since 2008 and relocate into a portion of the 10th floor of 555 Chabanel Street West (555 Midtown) - marking this the first significant technology company to expand into Midtown Montréal. 555 Midtown is owned by Global Holdings Management Group (U.S.) based in New York.
This new mid-town Montréal location will continue to be a Kronos technology centre of excellence with roles focused primarily on product development customer success, and support of its workforce management and HCM solutions. Kronos will continue to leverage top Canadian talent and its locally-renowned workplace culture including being on the annual Great Place to Work, Best Workplaces lists, named No. 8 among the 50 best large and multinational workplaces in Canada, a Best Workplace for Women, a Best Workplace for Inclusion, and a Best Workplace in Quebec, as well as one of Montréal’s Top Employers via the Canada Top 100 competition, all in 2019.
The transaction unfolded when Kronos, a longtime client of John Boyle, Vice Chair, of Cushman & Wakefield’s Boston office, was looking for a space that best-embodied its award-winning technology and workplace culture. Boyle and Cooper’s team worked with Kronos to identify suitable options for the client’s current and future requirements.
Cooper who led the tenant leasing transaction said, “Kronos continues to grow all around the world and specific to Montréal, they were looking for a new space that personified the innovative global SaaS powerhouse it has become. 555 Midtown was quickly identified as a potential option given its open concept floorplates that could be tailored to meet the tech company’s vision to foster creativity, flexibility and collaboration amongst its Kronite employees.”
“Our new location at 555 Midtown will allow us to create a workspace that truly embodies our award-winning work inspired culture and brand,” said Jonathan Proffitt, Vice President, Global Workspace Solutions at Kronos. “We’re proud to call Montréal home to our Canadian headquarters, and look forward to strengthening our local corporate citizenship by giving back to this vibrant and thriving community.”
Once the centre of the city’s fashion district, Montréal’s Midtown Chabanel District is undergoing a transformation where a variety of businesses across a wide range of sectors including technology, finance, insurance, creative and entrepreneurial have chosen to relocate.
555 Midtown is currently undergoing a renovation which will include enhanced amenities for the tenant experience including a tenant-only fitness centre, new food options and outdoor space. The building has a two-story grand foyer with retail space as well as green spaces and an eco-friendly design. Its large, customizable floorplates make it the perfect location for large occupiers such as Kronos. The building’s easy access to amenities and transit provide tenants and top talent the work-life balance today’s professionals are seeking.
“555 Midtown is representative of the shift we’re seeing in the Chabanel District. The relatively untapped area now offers first-class office space that is customizable and well-suited for creative and tech companies. It also provides tenants the services and amenities that are critical for attracting and retaining top talent,” said Cooper. “This transaction with Kronos is significant because it signals confidence in this area from a global leader that cares about its people and culture and will pioneer the way for other big tech companies to join them there.”
Kronos is slated for occupancy in the Spring of 2020.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Kronos Incorporated
Kronos is a leading provider of workforce management and human capital management cloud solutions. Kronos industry-centric workforce applications are purpose-built for businesses, healthcare providers, educational institutions, and government agencies of all sizes. Tens of thousands of organizations — including half of the Fortune 1000® — and more than 40 million people in over 100 countries use Kronos every day. Visit www.kronos.com. Kronos: Workforce Innovation That Works.
© 2019 Kronos Incorporated. All rights reserved. Kronos and the Kronos logo are registered trademarks and Workforce Innovation That Works is a trademark of Kronos Incorporated or a related company. See a complete list of Kronos trademarks. All other trademarks, if any, are property of their respective owners.
About Global Holdings Group
Eyal Ofer’s Global Holdings Group (Global) is a private real estate holding conglomerate that specializes – directly and with strategic partners – in large scale iconic office buildings, hotels and luxury residential developments, as well as investment and development assets in prime locations across North America, the United Kingdom and Europe. Global’s current portfolio consists of over 10 million square feet of real estate, comprising over 100 properties and 2,500 hotel rooms. Global’s New York City properties include Class A office buildings such as 120 Park Avenue, 99 Park Avenue, 410 Park Avenue and 875 Third Avenue, and iconic residential developments such as 15 Central Park West, the Greenwich Lane, 18 Gramercy Park and 50 United Nations Plaza.
Global Holdings Management Group (www.globalholdings-mgmt.com) exclusively develops, advises and manages the real estate assets of Global Holdings Group.