Meadowvale South Groundbreaking News Release
CANFIRST CAPITAL MANAGEMENT BREAKS GROUND AT MEADOWVALE SOUTH
State-of-the-art industrial development on 14.08
acres located in one of the world’s most travelled corridors
MISSISSAUGA, ON – August 17, 2023 – CanFirst Capital Management of Toronto is redeveloping 14.08-acres at 6525Mississauga Road, at the intersecton of Erin Mills Parkway and Mississauga Road into a best-in-class 272,739 sf industrial
property.
The site was previously an office campus and is now being demolished, as the company is celebrating groundbreaking and the onset of construction of this new state-of-the-art industrial development.
Mississauga’s Ward 11 Councillor Brad Butt (third from right) joined the CanFirst Capital Management executive team to help break ground at Meadowvale South, a 14.08-acre site, on what will become a 273,379 sf industrial building at Mississauga Road and Erin Mills Parkway. (Shown Right to Left) CanFirst Capital’s Raviv Israel, Senior Vice-President, Portfolio Management and Investments; Paul Braun, Chairman; Councillor Butt; CanFirst Capital’s Allan Perez, Chief Executive Officer; Mark Braun, Executive Vice-President, Investments and Business Development; Chris Caverson, Vice-President, Development. (Photo: Dale Wilcox)
“This prime location at the Mississauga Road interchange in Meadowvale is ideal for any industry,” said CEO Alan Perez. “We offer future tenants sustainability and connectivity at a prestigious address. The site has excellent access to labour, highways, intermodals and Pearson International Airport. Among the employee-centric amenities we offer will be the ability to walk to public transit and other transportation resources. Interest is already significant in this next-level industrial complex,” he added.
Mississauga is Canada’s sixth-largest, and Ontario’s third-largest city, and is the most significant employment growth centre in the Greater Toronto Area (GTA). Offering quick access to major Canadian and United States markets, Mississauga is the only city in the GTA serviced by seven major highways — ideal for importing and exporting. Among the many innovative features at Meadowvale South will be a 40-foot clear building height, 42 dock-level doors, two grade-level doors, 50’-wide by 54’-deep bays, plus a 60’ staging bay. There will be parking for 226 cars, 12 of which will accommodate EV charging, as well as 37 trailer parking stalls. Occupancy is slated for Fall 2024.
According to CanFirst Capital Management’s Executive Vice-President, Investments & Business Development Mark Braun, “We have assembled a first-class roster of professional associates and are delighted to offer an innovative and sustainable product with advanced energy efficiencies for reduced energy costs, building design and overall employee wellness standards. The final product will be as attractive as it is functional.”
CanFirst is working with sustainability consultant INVIRO Engineered Systems (mechanical and electrical engineers) to make this facility LEED Gold certified and zero carbon-ready. Colliers Strategy & Consulting is the development and project manager. Ware Malcomb is the lead architect and Cecchini Group is the construction manager. A team of engineering firms is addressing the numerous elements required in an industrial development including Counterpoint as civil/structural engineer; Gravity Engineering is structural engineer; Pinchin Ltd. are handling geotechnical and environment engineering; TMIG is the transportation engineer.
Leasing is handled by CBRE.
A list of the Meadowvale South project consultants is attached to this News Release.
ABOUT CANFIRST CAPITAL MANAGEMENT:
Founded in 2002, CanFirst Capital Management is an industry leader investing in commercial real estate and has many years of experience in real estate development, redevelopment, asset and property management, financing, leasing and construction.
ABOUT CANFIRST INCOMEPLUS REAL ESTATE FIND (CIPREF):
CIPREF is an open-ended fund that invests in core and core plus private real estate opportunities across Canada, targeting an annual net total return of 9-10 per cent. CIPREF’s primary focus is to acquire industrial properties in major Canadian markets, with lease terms between 5-10 years. Launched in June 2018, CIPREF has accumulated over 775,000 sq. ft. of properties, currently valued at over $155 million, delivering an annual net return of 11.4 per cent.
NEWS MEDIA CONTACT
David Eisenstadt, tcgPR
deisenstadt@tcgpr.com 416-561-5751