6750 Century Avenue, Ontario

CREC Commercial Fund LP Acquires High-Quality GTA Office Building

Vancouver, BC (June 28, 2022) – Concert’s CREC Commercial Fund LP (the “Fund”) announced it has completed the purchase of a boutique Class “A” multi-tenant office building in Mississauga comprised of approximately 99,828 square feet of leasable area. This acquisition further increases the depth of high-quality commercial properties Concert owns and manages in Ontario and across Canada and represents a valuable addition to the Fund’s portfolio.

The property is strategically located at 6750 Century Avenue, in the heart of Meadowvale, Mississauga, a thriving GTA West submarket. The importance of this area is highlighted by the strong presence of several multi-national companies and head offices including McKesson, Novo Nordisk, RBC, BMO and Intact, along with other financial, technology and pharmaceutical companies.

“This is an exciting acquisition as it represents an excellent opportunity for the Fund to deepen its holdings in the Meadowvale submarket with a quality office property, while supporting Concert’s continued growth and expansion,” says David Podmore, OBC, Concert’s Chairman, President & Chief Executive Officer.

The property benefits from outstanding connectivity to the 400 series highways and is located only 18 kilometers from Toronto Pearson Airport. Transit access is provided through the comprehensive MiWay bus system and the Meadowvale GO Station, both within one kilometer.  

The property is tenanted by a strong and diverse set of national and global companies including Whirlpool Canada’s head offices. It is well configured and already demised to accommodate a wide variety of tenants with unit sizes ranging from under 5,000 square feet to 25,000 square feet.

Completed in 2009, the property is a LEED and Energy Star certified office building situated on approximately 3.46 acres of land backing onto an extensive linear park system which provides an appealing outdoor amenity for employers to promote employee wellness. Concert continues to see strong demand for high-quality well-located suburban offices, where tenants benefit from decentralized office footprints that promote better work-life balance and offer shorter commute times for both staff and visitors, thereby helping to attract the best talent.

“We are pleased to acquire another exceptional office building that enhances the ongoing investment and growth of our Fund which is supported by our dedicated pension and institutional fund investors,” says Andrew Tong, Managing Director of the CREC Commercial Fund LP.


About CREC Commercial Fund LP

Concert’s fully-subscribed CREC Commercial Fund LP is a diversified Canadian portfolio. With ongoing plans to expand, this open-ended, limited partnership fund maximizes long-term value for investors by investing in, and actively managing, industrial and office real estate in Canada. The high-quality portfolio is managed by Concert Realty Services Ltd. and serves as Concert’s exclusive commercial platform. The Fund is supported by multiple Canadian pension funds and institutional investors. The Fund’s portfolio is comprised of office and industrial properties with an asset value in excess of $2.4 billion and over 11.6 million square feet of leasable area.

About Concert
Since 1989, Concert has proudly developed, acquired and managed Canadian real estate in pursuit of building a people-first future. With over $8 billion in assets, we are backed and owned by over 200,000 Canadians, represented by union and management pension plans. We deliver rental apartments, condominiums, seniors' active aging communities, industrial and commercial properties, and public infrastructure projects, and in each business, our vision remains the same: building resilient, inclusive, sustainable communities.

Media Contact
John Corry
Director, Corporate Communications
JCorry@ConcertProperties.com | 604.602.3838