Carttera’s UIF3 has completed the purchase of 8875 Torbram Road in Brampton, Ontario. Demolition of the existing building has begun, and a new speculative, LEED Gold, 900,000 sf distribution centre will be ready for occupancy in December 2014.
Carttera ‘s UIF2 is pleased to announce the sale of 7100 West Credit Avenue in Mississauga to Standard Life Assurance Company of Canada. This LEED Gold, 96,171 sf speculative office building was fully leased to WorleyParsons in December 2013.The total sale price was $33,900,000.
Awarded: Office Development of the Year
7100 West Credit Avenue, Mississauga, is a 5-storey, 95,000 square foot, LEED Gold office building. The building boasts exceptional locational characteristics including prominent highway exposure, and a single “AAA” quality tenant (WorleyParsons). This win marks the second consecutive year Carttera has won this impressive award, making Carttera the first-ever developer to win two years in a row.
Carttera’s, 1919 Minnesota Court in Mississauga, has been selected as a FINALIST for NAIOP’s REX Awards, Office Development of the Year. 1919 Minnesota Court is a new landmark office building located within the heart of Mississauga’s Meadowvale Business Centre. Completed in 2012, this LEED Silver brownfield redevelopment project is comprised of 125,000 square feet of contemporary office space on a six-acre site. The development is 100% leased to DuPont Canada and Maxxam Analytics head offices.
Carttera is pleased to announce the closing of Urban Intensification Fund 3 (UIF3). This latest Carttera fund has committed equity of $160 million from pension fund investors. The UIF3 fund will focus on investments in the Greater Toronto Area, in a diverse range of real estate types, classes, and initial occupancy levels. Targeted segments will include residential condominium development, office, flex office, mixed-use, industrial and retail infill development and redevelopment projects.
1919 Minnesota Court, Mississauga was selected as a FINALIST for CoreNet Canada’s 2013 Corporate Citizen Award.
Carttera Urban Intensification Fund 2 sold 2665 Meadowpine Boulevard, Alcon Canada’s head office and warehouse building to an institutional buyer for $33.5million. Colliers International effected the transaction on behalf of Carttera. Post-closing, Carttera will expand the existing 92,000 sq.ft. building to 160,000 sq.ft. on behalf of the buyer.
Carttera’s Urban Intensification Fund sold its 50% interest in Complexe Lebourgneuf Phase 2 to BTB REIT. Carttera co-developed and leased this Class A, 142,000 square foot office building located in the Lebourgneuf suburb of Quebec City, Quebec.
Carttera’s Urban Intensification Fund recently sold 15304 & 15360 – 111Avenue SW, a 7.64-acre development site located in Edmonton, Alberta.
Carttera’s Urban Intensification Fund 2 recently acquired a 1.1acre site located at 1926 Lake Shore Boulevard West in Toronto. This site fronts onto Sunnyside Park and has spectacular views of Lake Ontario, High Park and downtown Toronto. Carttera plans to redevelop the site as a residential condominium.