- What Soneil Investments has bought seven industrial buildings in Mississauga for more than $100m
- Why Deal adds to firm’s portfolio in the GTA
- What next The properties have a weighted average lease term of 3.54 years
Soneil Investments has bought a seven-building industrial portfolio in Mississauga for more than $100m.
Millcreek Business Centre was acquired from GWL Realty Advisors, according to RENX. Brampton-based Soneil financed the deal through the Royal Bank of Canada.
The buildings, at 6665-6725 Millcreek Drive, range from 35,000 to 63,000 sq ft. The leasable space totals 325,000 sq ft on 20 acres.
The portfolio is 92% occupied by 31 tenants, with a weighted average lease term of 3.54 years, according to a Colliers brochure marketing the property. The centre is close to Highway 401, and Toronto Pearson International Airport is 14 km away.
Soneil owns 5m sq ft of industrial, office and retail space in the Greater Toronto Area.
