- What Prologis has acquired a 40-acre parcel in Mississauga
- Why The previous owners went through a severance process to remove a heritage home from the property
- What next Prologis is evaluating possible uses for the site
Prologis has acquired a large land parcel on the western side of Mississauga for $92m, Green Street News can reveal.
The 40-acre plot at 7564 10th Line West was purchased on Dec. 4 from Sylvan Oak Farm GP. The price works out to $2.3m/acre.
Prologis, a San Francisco-based industrial giant with a $160bn market capitalization, is evaluating possible uses for the Mississauga site.
The property previously included a nearly 200-year-old Georgian-style farmhouse that is designated under the Ontario Heritage Act. The previous owners, however, took the land through a severance process. The heritage designation now applies only to a smaller portion of the land containing the house and is fully separated from the property acquired by Prologis.
The property is less than a kilometre from the nearest Highway 401 and Highway 407 on-ramps, as well as a large Ikea distribution centre.
