December 14, 2023, Vancouver, BC – Concert Income Properties (CIP) is pleased to announce that it has purchased 2340 Winston Park Drive, a Class A industrial property in a highly sought-after urban logistics node in Oakville, Ontario, bordering the city of Mississauga.
Built in 2003, the property has been exceptionally well-maintained to institutional standards by Morguard and provides excellent logistical capabilities within a modern, high-quality and well-designed space.
“The 2340 Winston Park Drive building is optimally located, exceptionally maintained and highly functional, making it an excellent strategic fit for CIP,” says David Podmore, OBC, Chief Investment Officer of Concert Properties and Managing Director of Concert Income Properties LP. “This is the type of asset that has historically been and continues to be at the core of CIP’s industry-leading performance.”
Currently, the 202,165 square-foot facility is 100% leased to three diverse, logistics-oriented tenants with unit sizes ranging from 38,000 to 100,000 square feet. The property features 28-foot clear ceilings, an expansive 160-foot-deep truck court as well as 20 truck-level doors and four drive-in doors. The 9.5-acre site borders Mississauga and is conveniently located at the convergence of the QEW and Highway 403, providing excellent access and connectivity across the GTA and beyond.
The Property is zoned for E3-Industrial and Mixed Commercial, which permits a variety of uses including warehousing, manufacturing, truck/transport terminals, wholesaling and flex office.
About Concert Properties
Since 1989, Concert Properties has proudly been developing, acquiring and managing Canadian real estate in pursuit of building a people-first future. We develop, own and manage rental apartments and seniors’ active aging communities; develop condominium homes; and develop, acquire and manage industrial and commercial properties through our two corporate entities, Concert Real Estate Corporation and Concert Income Properties. Through Concert Infrastructure, an independent corporate entity, essential public infrastructure projects are invested in, developed and managed. We have grown to over $9 billion in assets, including $3.3 billion in infrastructure. Owned by union and management pension plans and institutional investors representing over 200,000 Canadians, our vision is to create resilient, inclusive and sustainable communities across Canada. See ConcertProperties.com for more information.
About Concert Income Properties
Formed in 2016, Concert Income Properties is one of two corporate entities comprising Concert Properties and maximizes long-term value by acquiring, developing and managing industrial, office and multifamily residential real estate in Canada. Supported by Canadian pension funds and institutional investors, this open-ended, limited partnership Canadian fund has delivered exceptional returns since inception, with an asset value of nearly $3.2 billion and 12.5 million square feet of leasable area. See ConcertProperties.com for more information.
Director, Corporate Communications