Crown Realty Partners (“Crown”) and Plaza Partners announced the closing of a joint acquisition at 30 Eglinton Avenue West, located at the intersection of Eglinton Avenue West and Hurontario Street, in Mississauga. 30 Eglinton is comprised of a 113,435 square foot office building and 51,296 square feet of retail on a 6.4 acre site.
The property, located at a prominent intersection in downtown Mississauga, is a prime location for mixed use redevelopment. Fully serviced by Mississauga Transit and directly across from a future Hurontario LRT stop, the property’s transit-oriented location positions it well for substantial future intensification for high-density residential purposes including the opportunity for a large-scale phased redevelopment.
30 Eglinton is the first joint venture completed by Crown and Plaza Partners, with Crown’s 50% interest being acquired on behalf of its fourth value-add fund, Crown Realty IV Limited Partnership (“CR IV LP”). The partnership between Crown and Plaza Partners is a strategic one, with Crown overseeing the repositioning of the office component of the site, managing the leasing and property management. Plaza Partners will act as the development manager and oversee the rezoning/entitlement of the site as a mixed-use office, retail and residential community.
The Property’s transit-oriented location positions it well for substantial future intensification…
