A 221,000-sq. ft. project associated with the Mississauga Gateway Centre has broken ground largely because of the new Hurontario-Main LRT line, says the broker who put the deal together.
Royal Sun Alliance (RSA) will move its Canadian headquarters from the Sheridan Centre to 2 Prologis Blvd. at the end of 2018, Joe Almeida, principal with Avison Young, told The Mississasuga News. The building at 1 Prologis Blvd. has been recently completed.
The additional Leadership in Energy and Environmental Design (LEED) Gold office complex will include a five-storey tower and a four-storey tower, linked by a two-storey atrium. It will have a green roof.
Almeida co-brokered the deal between the insurance company and the Healthcare of Ontario Pension Plan (HOOPP), which owns the 11-acre project including 2 Prologis Blvd. near the Mississauga and Brampton border, as well as the site across the street at 1 Prologis Blvd. and the property at 85 Prologis Blvd., the community publication reported.
“We are very excited to commence construction activities at this site,” said Randy Gladman, vice-president of development at Triovest, which is managing the project on behalf of HOOPP. “Triovest is very pleased to work with our friends at HOOPP and help manage many of their most important real estate assets, such as this site being developed for the lead tenant, Royal Sun Alliance.”
Major earthworks started in July and site servicing will start shortly thereafter. BelRock Construction had the contract to build the recently completed 1 Prologis Blvd.