Adgar Investments & Development Inc. has acquired five office buildings, four in Ontario and one in Manitoba.
The properties, totaling 333,821 square feet, include 300, 302 & 306 Town Centre Boulevard in Markham, Ontario, 40 Holly Street in midtown Toronto and 259 Portage Avenue in Winnipeg, Manitoba.
At 174,090 square feet, 300, 302 & 306 Town Centre is located in the heart of Markham. The property consists of three mid-rise office towers built in 1995, 2001 and 2009.
At 91,071 square feet, 259 Portage Avenue is an 11-storey, LEED-certified office tower constructed in 1915 and renovated in 2003, while 40 Holly Street, a nine-storey, 68,660-square-foot building, was completed in 1988.
The acquisition brings Adgar’s assets under ownership and management to more than two million square feet.
“This is a fantastic investment and growth opportunity for Adgar,” says Chris Tambakis, chief executive officer of Adgar, (North America). “The portfolio is leased to high quality companies and organizations. The acquisition of these well-leased, well located, quality office buildings is a perfect fit for Adgar as we continue to strategically expand our commercial footprint.”
Avison Young and Cushman & Wakefield co-brokered the sale. Adgar was represented by the law firm Cassels Brock Blackwell LP in the purchase of the acquisition.
Picture of 40 Holly Street in midtown Toronto