- What A 48,700 sq ft freestanding warehouse recently sold for $18m
- Why A private Ontario company paid seller Delom $370/sq ft
- What next Excess land on the lot can be utilized for outdoor storage
A Class-B warehouse in Mississauga has changed hands for $18m, Green Street News can reveal.
Montréal-based industrial repair company Delom Immobilier agreed to part with the 48,700 sq ft freestanding building at 3350 American Drive for $370/sq ft. Colliers represented the buyer, a numbered Ontario company based in Brampton, while Lee & Associates acted for the seller.
The deal was announced in December 2024 without mention of the price. The one-storey property had been on the market as early as late 2023. It was vacant at the time of the sale.
Built in 1966 on a 3-acre lot, the warehouse has one shipping door at truck level and another drive-in, with a clear height of 16 feet. There are two working cranes on the premises with maximum lifting capacities of six and 25 tonnes respectively. One acre is considered excess land and can be utilized for outdoor storage needs.
The building is less than 1 km from the nearest onramp to Highway 409, which provides a direct connection to Highway 401. Toronto Pearson International Airport is 2 km away.
There is a bus stop 200 m from the property at the intersection of American and Northam Drive.
Delom purchased the property in 2014 for $3.5m.
