Vancouver-based Cristall Group Investments shows a remarkable inner zen after making purchases, slowly building them into something more.
So we have a good idea how it'll handle its latest buy: the industrial property at 1200 Aerowood Dr in Mississauga.
Colliers SVP Colin Alves, who brokered the deal, learned of the opportunity through an ongoing dialogue with KingSett. "Cristall Group has wanted to get into our market for several years but hadn't found the right fit or property," he tells us. Colin was impressed at how CGI was able to come up with ideas to alleviate those vacancies. "That's based on other projects they have completed successfully," he says.
President Alex Cristall says CGI's strategy is always slow, measured growth. KingSett Capital owned the 150k SF multi-tenant industrial property but kept it off-market because of its high vacancy (and it had larger properties to focus on). CGI grabbed it for just north of $11M. In these scenarios, CGI will go in, make minor improvements and get the leasing up to capacity, or close to it. The company is exploring other similar opportunities in the GTA, so watch for them.
Source: Toronto Real Estate Bisnow