- What CanFirst Capital Management is unloading another GTA warehouse property
- Why The investment shop is selling off a portfolio of GTA assets in order to shutter a real estate investment fund
- What next CanFirst expects to divest the rest of the portfolio by the end of 2024
CanFirst Capital Management is looking to offload a 107,000 sq ft Mississauga warehouse for $34.8m, Green Street News can reveal.
The valuation for 6811 Goreway Drive works out to $325/sq ft. CBRE has the marketing assignment.
The property, built in 1976, has 12 loading doors at truck level and two with drive-in access. It has a maximum clearance height of 18 feet. Most of the building — 101,000 sq ft — is industrial space, with the remaining roughly 6,000 sq ft comprising office space.
The building is leased to Quest Window Systems, which manufactures skyscraper windows.
The closest highway on-ramp, leading to Highway 409, is 4 km away. That connects to Highways 427 and 401. The closest public transit stop, the Malton GO rail station, is 2 km away, and Toronto Pearson International Airport is 5 km away.
CanFirst’s GTA industrial portfolio totals 1m sq ft. The company in May sold four industrial properties in the area.
The firm has raised $1.2bn of equity since 2002 through a series of dedicated real estate investment funds. CanFirst owns industrial and office properties across the country, focusing on Toronto, Ottawa, Montréal, Calgary, Edmonton and Vancouver.
The Toronto-based shop expects to dispose of the entire GTA portfolio by yearend as part of the scheduled sunsetting of its CanFirst Industrial Realty Fund 6.
