First Gulf purchases the former Element head office within the Sheridan Research Park in south Mississauga

First Gulf has continued to execute on its strategic growth and diversification plan with the acquisition of the 24-acre 2395 Speakman Drive in Mississauga.

 

Located within the Sheridan Research Park, the site is currently improved with a 230,000 sq. ft. life sciences building and has permitted density that would allow for significant potential expansion.

 

Sheridan Research Park is situated along the QEW, 3 KM from Clarkson GO station and less than 25 minutes away from both Pearson Airport and downtown Toronto.

 

“We have a strong relationship with the City of Mississauga and are delighted by the opportunity to continue our investment there,“ said David Carreiro, President of First Gulf. “We are particularly excited by the prominent location and versatility of this site. The existing building affords us the opportunity to enter the life sciences space, while the broader site allows for significant additional density across several attractive asset classes.”

 

First Gulf will provide additional information about its plans for this site in the coming months.

 

For more information on this acquisition, or First Gulf’s services, please contact Roman Brailovski, Vice President, Strategic Initiatives & Operations at 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 $4 billion completed since the company’s inception in 1987. 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. To date, 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. Established in 1975, with major projects in Canada and the United States, the Group’s fully-integrated activities span the entire real estate spectrum.

 

Media Contact
Andy Gibb
416.773.7157
agibb@firstgulf.com