Description

Jones Lang LaSalle Real Estate Services, Inc. ("JLL" or the "Advisor") is pleased to present a rare opportunity to acquire a 100% freehold interest in two neighbouring multi-tenant industrial assets located at 6535 Millcreek Drive and 2330-2333 Millrace Court in Mississauga, Ontario (collectively, the "Properties" and each individually a "Property"). The Properties are improved with five adjacent buildings totalling 419,724 square feet ("sf") of high-quality space across 40 small- and mid-bay units. The Properties are situated on two land parcels totalling an expansive 27.8 acres within the established Meadowvale Business Park, with easy access to Highway 401 via the Mississauga Road interchange and numerous transit options, including Meadowvale GO Station, offering exceptional connectivity across the Greater Toronto Area.

6535 Millcreek Drive sits on 19.7 acres and offers 291,329 sf of high-quality small- and mid-bay space, ranging from 1,600 sf to 27,900 sf, across 35 units. The Property is 84% leased, with a weighted average lease term ("W.A.L.T.") of 3.0 years and average in-place rents of $18.02 psf.

2330-2333 Millrace Court consists of five industrial units, comprising four mid-bay and one small-bay, totalling 128,395 sf on 8.1 acres of land. The Property is fully leased to five tenants, which collectively have a W.A.L.T. of 1.7 years and rents positioned approximately 30% below market, offering meaningful upside potential.

The Properties can be acquired individually or together as a package.

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