TORONTO: Crown Realty Partners has announced the sale of 2300 Meadowvale Boulevard, Mississauga to an institutional buyer for $75.5 million or $315psf.
The property was originally acquired by Crown on behalf of its fourth value-add fund, CR IV LP, in June 2017 with a two-year leaseback from the original owner.
Upon acquisition, Crown initiated the repositioning and marketing program for this corporate campus including large-scale capital upgrades to the common areas, amenities and parking facilities.
Within 12 months, Crown completed a long-term lease for the entire property as the GTA office hub for one of the world’s largest healthcare companies.
Located on 23 acres within the Meadowvale Business Park in the City of Mississauga, the three-story 240,000 sq. ft. building is easily accessible by the 400 series highways, public transit and the Meadowvale Go Station.
The campus offers sprawling floorplates and plenty of greenspace, including ravines and on-site walking trails.