- What 5600 Cancross Court in Mississauga traded for $32m
- Why Colliers marketed the building for $29.8m
- What next The buyer will retrofit and occupy the building next year
KingSett Capital has offloaded a Mississauga office building for $32m, Green Street News can reveal.
An owner-occupier in the hospitality sector acquired 5600 Cancross Court in a deal brokered by Colliers. The valuation for the 100,000 sq ft building is $320/sq ft. It was marketed at $29.8m, or $299/sq ft. It sold free and clear of debt.
The property is leased to Co-operators until early 2026, at which point the new ownership will retrofit the building for its own use.
5600 Cancross Court was completed in 1988. There are 393 parking stalls. It’s zoned E2 – employment, permitting a variety of office, industrial, commercial and hospitality uses.
On 5 acres, the property is within 3 km of Hurontario Street, Highway 401 and Square One Shopping Centre. Highway 403, Toronto Pearson International Airport and Cooksville GO Station are within 6 km.
The area has seen notable office-sales activity of late. In Q4 2024, TD Greystone sold 5750 Explorer Drive for $17.4m, QuadReal offloaded 2000 Argentia Road for $40.1m and LaSalle floated 5655 Timberlea Boulevard for $10.3m. Those properties are all within 6 km of 5600 Cancross Court.
KingSett Capital is a private equity real estate investment firm. Jon Love is executive chair and founder of the Toronto-based company.
