Photo Release -- Dart Realty Announces PricewaterhouseCoopers as Anchor Tenant at Topping Out Ceremony for 18 Forum Lane

New Development at Camana Bay on Track to Become the Caribbean's First LEED(R) Gold Mixed-Use Commercial Building

GlobeNewswire

CAMANA BAY, Cayman Islands, July 30, 2014 (GLOBE NEWSWIRE) -- Dart Realty (Cayman) Ltd. announces PwC Cayman Islands, a member firm of one of the world's largest professional services networks, as the anchor tenant at 18 Forum Lane, an 85,000-square-foot office and retail building under construction in Camana Bay. The building is slated to become the Caribbean's first mixed-use commercial property to achieve Leadership in Energy and Environmental Design (LEED(R)) Gold certification.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=26792

Executives from Dart Realty and PwC announced the news during a topping out ceremony for the building. Simultaneously, Dart Realty launched workatcamanabay.com, a website dedicated to the growing office portfolio at the landmark new urbanism community.

"With nearly 175 employees and over 40 years' experience in the Cayman Islands, PwC exemplifies the world class firms that have chosen Camana Bay as the place to locate and grow their business," said Jackie Doak, Chief Operating Officer of Dart Realty. "It is a privilege to welcome such a prestigious financial services firm to the Camana Bay community."

Since Camana Bay opened its first buildings in 2007, corporate demand for office space within the Town Centre has exceeded expectations. The market has reacted with enthusiasm to the mixed-use development that integrates global business with a real sense of Caribbean community, and existing office space is nearly 95 percent leased. Dart Realty commenced construction of 18 Forum Lane as a speculative project and quickly attracted the attention of PwC, which committed to a 26,000-square-foot lease to be the anchor tenant. The building, which was designed by world leader in sustainable architecture Lake|Flato, is scheduled to open in early 2015.

"When we announced our plans to move to Camana Bay, staff morale immediately changed and everybody sensed the excitement around the office," said Peter Small, Partner at PwC Cayman Islands. "With all of the lawyers and accountants Camana Bay has a strong professional aspect, but it also factors in family with schools, restaurants and different options in a modern and upscale environment; it's a major town square. It's a good decision to be in Camana Bay."

With the addition of 18 Forum Lane, Camana Bay's office portfolio will exceed 385,000 square feet. It currently comprises 94 Solaris Avenue, 62 Forum Lane and 89 Nexus Way, as well as office suites encircling Camana Bay's lushly landscaped courtyards on Market Street. Buildings overlook artful gardens or the Camana Bay Harbour, some with sea-to-sea views from North Sound to Seven Mile Beach. At $50 per square foot for prime waterfront spaces, these offices command rates commensurate with leading markets and financial centers.

Camana Bay continues to advance its focus on long-term sustainability and raise the standards for commercial real estate in the region, offering both Cayman Islands companies and international firms office space on par with that found in world capitals.

"The pursuit of LEED(R) Gold certification for 18 Forum Lane is representative of Ken Dart's vision for Camana Bay to be the most sustainable, livable community in the Caribbean," said Doak. "With every phase of the town's 50-year development plan, we strive to integrate the latest advances in energy efficiency with artful design while offering the best in Caribbean living, shopping, dining and entertainment a short walk away."

Additional information on amenities and construction progress can be found on the company's newly launched commercial real estate website workatcamanabay.com.

For leasing information about 18 Forum Lane, please contact Vice President of Leasing Sloane Rhulen at sloane.rhulen@drcl.ky.

About Camana Bay

A destination within a destination, Camana Bay is a vibrant town located in the heart of Grand Cayman. Stretching 600 acres from the famous Seven Mile Beach to the tranquil North Sound, this mixed-use master planned community opened in December 2007 and is one of the first examples of New Urbanism in the Caribbean. Developed by Dart Realty (Cayman) Ltd. in collaboration with an award-winning team of visionaries, including Duany Plater-Zyberk, Moore Ruble Yudell and OLIN Partnership, Camana Bay offers a unique mix of thoughtfully designed residential, commercial and public spaces, world-class shopping and dining, education and sports facilities plus family-friendly entertainment, events and attractions. Designed to grow organically over several decades, Camana Bay is now in the planning phase for the town's residential communities. For more information on Camana Bay visit CamanaBay.com, like Camana Bay Fan Page on Facebook and follow @CamanaBay on Twitter and @Camana_Bay on Instagram.

About PwC Cayman Islands

With approximately 175 partners and staff, PwC Cayman Islands helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms in 157 countries with more than 184,000 people who are committed to delivering quality in assurance, tax and advisory services.

The photo is also available via AP PhotoExpress.

Contact:
Media contacts:
Tony Wilbert, The Wilbert Group
Tel: 404-405-3656
twilbert@thewilbertgroup.com
Melissa Ladley, Dart Realty (Cayman), Ltd.
Tel: 345-640-3371
melissa.ladley@drcl.ky

Rates

View Comments (0)