True North Commercial REIT Buys 5900 Explorer Drive
True North Commercial is set to buy 5900 Explorer Drive, a 40k SF two-storey office building in Mississauga’s Airport Corporate Centre, for $10.5M. CEO Daniel Drimmer notes the acquisition dovetails with his firm’s core strategy of acquiring properties tenanted with government or credit-rated organizations. Built in 2000, 5900 Explorer is 100% occupied by a single tenant, The Beer Store. The deal is expected to close later this month, and brings the REIT’s portfolio to 26 commercial properties (1.5M SF) in secondary markets across Canada.