QuadReal, a real estate subsidiary of the British Columbia Investment Management Corporation (BCI), has sold its Meadowvale Corporate Centre in Mississauga, Ontario, for $40.1 million. The property, located at 2000 Argentia Road, comprises five low-rise office buildings totaling approximately 275,601 sq. ft of space.
QuadReal, the real estate subsidiary of the British Columbia Investment Management Corporation (BCI), has sold a sizable office property in Mississauga, Ontario. The property, known as the Meadowvale Corporate Centre, is situated at 2000 Argentia Road, spanning a 13-acre triangular site bordered by Mississauga Road and Turner Valley Road.
Its strategic location places it a mere five-minute drive from the Meadowvale GO Station and three minutes from Highway 401, north of which lies the Meadowvale North Business Park, currently owned by QuadReal.According to commercial real estate brokerage Avison Young, QuadReal successfully sold the Meadowvale Corporate Centre for $40,100,000. Considering the property's size, encompassing approximately 275,601 sq. ft of office space distributed across five buildings, the price translates to around $146 per sq. ft. The transaction was facilitated by a team of brokers, including John Stewart, Bill Pitt, and Scott Chandler of Marcus & Millichap's Institutional Property Advisors (IPA) in Ontario, as well as Ron Jasinski and Domenic Galati of Colliers.Originally constructed between 1973 and 1976, the Meadowvale Corporate Centre comprises five low-rise office buildings with a total area of approximately 275,601 sq. ft. Since its completion, the property has undergone significant improvements, and all five buildings now boast BOMA Best Silver certification. Currently, the office complex enjoys a 75.3% occupancy rate and a weighted average lease term (WALT) of 3.9 years, according to the IPA team. A listing by Colliers in January 2025 indicates that 12 suites of various sizes are available across the five buildings, named Plaza 1 through 5. The listing specifies a net rent of $17.95 per sq. ft and an additional rent of $17.68 per sq. ft. Furthermore, Colliers highlights the complex's abundant parking, EV charging stations, an on-site café, and a deli
REAL ESTATE OFFICE BUILDINGS MISSISSAUGA QUADREAL SALE
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Appeals Court Pauses Enforcement of Corporate Transparency ActA federal appeals court has halted the enforcement of the Corporate Transparency Act (CTA), a law requiring corporations to disclose the identities of their beneficial owners to the U.S. Treasury. The court's decision comes amidst ongoing legal challenges to the CTA, with a Texas federal court previously deeming it unconstitutional. The law is now on hold pending a full ruling by the Fifth Circuit Court of Appeals, expected mid-2025.
Read more »
Corporate earnings growth faces uncertainty amid inflation worries, policy shift impactEarnings for companies within the S&P 500 are expected to have grown by about 9.4% in 2024, according to FactSet
Read more »
Wall Street Predicts Strong Corporate Profits in 2024 and 2025Wall Street anticipates a significant increase in corporate profits for 2024 and 2025, driven by a robust economy and easing inflation. However, companies face ongoing uncertainties, including potential economic policy changes and volatile consumer spending.
Read more »
Wall Street Forecasts Strong Corporate Profits for 2024 and 2025Wall Street analysts predict significant profit growth for companies in 2024 and 2025, driven by a strong labor market, easing inflation, and continued consumer spending. However, uncertainties remain, including potential economic policy shifts and future inflation trends.
Read more »
Wall Street Sees Corporate Profits Soaring in 2024 and 2025Wall Street anticipates a significant increase in corporate profits in 2024 and 2025, driven by a strong economic recovery. However, companies face numerous uncertainties, including inflation and interest rate fluctuations.
Read more »
Neil Young pulls out of Glastonbury, blaming BBC's 'corporate control'Neil Young performs on stage for his first time in Quebec City during 2018 Festival d'Ete on July 6, 2018.
Read more »