First Gulf and Spear Street Capital partner to develop state-of-the-art life sciences campus

Mississauga, ON – (June 1, 2022) – First Gulf Corporation (“First Gulf”) has partnered with Spear Street Capital (“Spear Street”), a world-renowned owner and developer of healthcare, research and technology-oriented properties in the United States, Canada and Europe, to re-develop the former Element head office site located within the Sheridan Research Park at 2395 Speakman Drive in south Mississauga, Ontario.

 

The 24.34 acres site was purchased in December 2021 by First Gulf and is now being redeveloped by the partners into a state-of-the-art life sciences campus that can accommodate up to 350,000 square feet of laboratory, office, innovation, and technology space. The initial phase of the development will consist of approximately 145,000 square feet.

 

“We are thrilled to partner with Spear Street Capital on this project. Combining Spear Street’s extensive expertise in life sciences with our execution capabilities will allow us to develop a world-class research and development facility in an outstanding location. We believe that there is significant demand for a development of this caliber and look forward to delivering our first buildings in late 2023” says David Carreiro, President of First Gulf.

 

First Gulf and Spear Street will provide additional information on this project in the coming months.

 

For more information on this project, please contact:

Michael Rak, Vice President, Spear Street Capital
mrak@spearsteetcapital.com or 212-488-1653

Roman Brailovski, Vice President, Strategic Initiatives & Operations, First Gulf
rbrailovski@firstgulf.com or 416-773-7060

 

About First Gulf
First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $5 billion. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America’s premier real estate organizations.
firstgulf.com

 

About Spear Street Capital
Founded in 2001, Spear Street Capital is an owner, developer and operator of distinctive healthcare and research & technology-oriented properties located in the United States, Canada and Europe. Spear Street Capital focuses on assets and portfolios greater than $25 million in total value, targeting well-conceived and located properties that can succeed through creative leasing efforts, physical improvements, entitlement changes or realization of adaptive re-use strategies.
spearstreetcapital.com