H&R REIT, TRIBAL PARTNERS, AND CUSHMAN & WAKEFIELD KICK START CONSTRUCTION OF MEADOWVALE COMMERCE PARK WITH A GROUND-BREAKING CEREMONY

MISSISSAUGA, ON, July 18, 2022 /CNW/ - H&R Real Estate Investment Trust (H&R REIT), headquartered in Toronto, Ontario, and Tribal Partners, based in Vaughan, Ontario, launched construction of state-of-the-art industrial facilities, Meadowvale Commerce Park. Leading global real estate service firm Cushman & Wakefield will market the 336,000 square feet, two-building infill industrial development on a 15.45-acre site. The ground-breaking ceremony was held at 1925 & 1965 Meadowvale Boulevard. The Mayor of Mississauga, Bonnie Crombie, MP from Mississauga-Streetsville, Rechie Valdez; MPP from Mississauga-Streetsville, Nina Tangri participated in the event. 

Vice President Leasing – Industrial, H&R REIT, David Fair; Executive Vice President, Industrial Advisory Group at Cushman & Wakefield, Fraser Plant; MP from Mississauga-Streetsville, Rechie Valdez; Mayor of Mississauga Bonnie Crombie; MPP from Mississauga-Streetsville, Nina Tangri; Executive Vice President, Cushman & Wakefield, Michael Yull; and Managing Director and Founding Partner of Tribal Partners, Lance Trumble, break ground on the Meadowvale Commerce Park, 1925 & 1965 Meadowvale Boulevard (CNW Group/Tribal Partners)

Meadowvale Commerce Park (MCP) will feature two state-of-the-art industrial facilities, strategically located between two major transportation arteries – highways 401 and 407, and 18 Kilometers from the Toronto Pearson International Airport. Adjacent to many top-tier companies and located near 46 restaurants, three banks, four hotels, and six transit routes, MCP will contribute to the continuous development of Mississauga's manufacturing hub. It is perfectly positioned to benefit from Mississauga's highly educated talent pool and encourage growth in one of Canada's largest labour pools, contributing to the city and province's economic development.

Both buildings will feature; 40-foot clear heights; 40×55-foot bay sizes; 60×55-foot marshalling bays; two drive-in doors; Building A will be 187,290 square feet, with 37 truck-level docking doors and 142 parking spaces. Building B will be 149,510 square feet with 24 truck-level docking doors and 115 parking spaces.

QUOTES

"I'm truly excited to welcome the Meadowvale Commerce Park to our vibrant and growing city, said Nina Tangri, MPP for Mississauga-Streetsville. Mississauga has a growing community and is recognized for having diverse groups of talented and educated minds. This new state-of-the-art facility will contribute to Mississauga's economic development and help create well-paying jobs for the local residents in our community."

"This project with two state-of-the-art industrial buildings is a unique and exciting opportunity for Mississauga. I look forward to the Meadowvale Commerce Park becoming available in 2023 to contribute to the city's economy and job opportunities."

- Lance Trumble, Managing Director and Founding Partner, Tribal Partners

ABOUT H&R REIT

H&R REIT is one of Canada's largest real estate investment trusts, with total assets of approximately $11.4 billion as of March 31, 2022. H&R REIT has ownership interests in a North American portfolio comprising high-quality office, industrial, residential, and retail properties comprising over 29.5 million square feet. H&R is undergoing a five-year strategic repositioning to transform into a simplified, growth-oriented company focusing on residential and industrial properties to surface significant value for unitholders.

ABOUT TRIBAL

Tribal is an entrepreneurial real estate developer, creating value for private and institutional investors. Tribal's team utilizes its expertise to execute the construction and development of industrial, office, retail, and mixed-use properties. Unlocking unrealized value in real estate is a Tribal hallmark. Their experienced, reputable team only sources and pursue real estate opportunities that meet the Tribal's criteria for quality and excellence in value and growth.

About CUSHMAN & WAKEFIELD

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and about 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation, and other services.

SOURCE Tribal Partners

MEDIA CONTACT: Lesly Quintal [email protected] 613 252 4137