QuadReal Sells Vancouver’s Landmark The Post to Pontegadea

Global developer QuadReal Property Group has announced the sale of The Post, a significant mixed-use office building located in downtown Vancouver. This landmark structure, once the headquarters for Canada Post, is considered one of the most ambitious redevelopment projects in Canada’s history.

In a news release issued on Thursday, QuadReal did not disclose the identity of the buyer or the sale price. However, sources indicate that the buyer is Pontegadea, the investment firm owned by Spanish billionaire Amancio Ortega, who is also the founder of the Zara fashion brand. QuadReal confirmed that it will continue to manage the property, ensuring ongoing service excellence for both tenants and the surrounding community.

Originally constructed in 1958 and designed by the prominent architectural firm McCarter Nairne & Partners, The Post has undergone extensive redevelopment since the project was first announced in 2015. The renovation preserved many of the building’s iconic features while adding approximately 1.1 million sq. ft. of office space, significantly enhancing its capacity and appeal.

In 2019, Amazon secured a lease for the entire building, further solidifying The Post’s status as a central hub in Vancouver’s business landscape. The transaction marks a notable shift in ownership for a property that has played a key role in the city’s economic growth and architectural heritage.

As the sale unfolds, industry analysts will be watching closely to see how this change in ownership impacts the future of The Post and its tenants. The involvement of Pontegadea, with its considerable resources and global investment strategy, could bring new opportunities for the property and its surrounding area.

In the coming weeks, further details about the transaction and its implications for Vancouver’s commercial real estate market are expected to emerge. For now, QuadReal’s commitment to maintaining management of The Post suggests a continued focus on quality and service within this historic building.