- What Crown Realty Partners has acquired 5750 Explorer Drive in Mississauga
- Why The property is in Mississauga’s Airport Corporate Centre
- What next The company plans to upgrade the common areas and main lobby
Crown Realty Partners has picked up an office building in Mississauga.
The 108,000 sq ft building at 5750 Explorer Drive was built in 2007 and is 78% leased. The 10 tenants include BMO, Hershey Canada and Skygrid Construction.
Toronto-based Crown plans to upgrade the common areas and main lobby. Amenities include bike parking and car-charging stations.
The five-storey property is in Mississauga’s Airport Corporate Centre near Highway 401. Toronto Pearson International Airport is 3 km away.
The transaction is the sixth acquisition on behalf of Crown’s fifth value-added fund, CR V LP, which has secured $260m of capital commitments from institutional investors.
