Canadian Pacific Railway and building-owner Hempel celebrate CP’s new U.S. headquarters with Minneapolis dedication ceremony

MINNEAPOLIS (August 20, 2012) — One Financial Plaza in Minneapolis was officially renamed Canadian Pacific Plaza today in a ceremony featuring hundreds of employees, a sign unveiling and the raising of a Canadian Pacific flag to officially dedicate the company’s new U.S. headquarters.

Earlier this month, 400 Canadian Pacific employees completed the move from their former location, the Soo Line Building, into the 26-story office tower located in the heart of downtown Minneapolis. Canadian Pacific departments including operations, customer service, community relations and U.S. administration now operate out of five floors of the building.

“Canadian Pacific Plaza is a good fit for CP’s U.S. operations so we can better serve our customers and stakeholders,” said Doug McFarlane, CP U.S. Vice President. “Canadian Pacific Plaza also demonstrates our railroad’s commitment to the City of Minneapolis and the State of Minnesota.”

Building-owner and landlord Hempel recently invested a significant amount of capital into the building for all its tenants: The Minneapolis-based commercial real estate investment firm upgraded lighting on the first and second floors, elevators, elevator lobbies, restrooms and corridors and constructed a new fitness center, among other infrastructure improvements. Cuningham Group coordinated interior design and MP Johnson Construction and Gardner Builders handled building improvements.

“We’re pleased we were able to help Canadian Pacific find a long-term home that met all of their needs, including providing the facilities, technical infrastructure and room for expansion they required,” said Hempel President Jon Hempel. “The building’s new name embodies Canadian Pacific’s commitment to putting down roots in Minnesota and being a major presence in downtown Minneapolis for years to come.”

About Canadian Pacific

Canadian Pacific (CP: TSX)(NYSE: CP) operates a North American transcontinental railway providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit www.cpr.ca to learn more.

About Hempel

Hempel is a Minneapolis-based private commercial real estate investor founded in 2001. The firm specializes in new and adaptive re-use properties with a focus on office, retail, and hospitality. Hempel is recognized for its responsive and proactive approach resulting in innovative real estate solutions. www.hempelcompanies.com