News

Building Success in Toronto’s Downtown East Node
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Building Success in Toronto’s Downtown East Node

We are proud to announce that Toronto City Council has approved First Gulf’s new King East Centre development. Located along Front Street East and Princess Street in Toronto’s St. Lawrence Neighbourhood and within the City’s original 10 blocks, this new development will consist of a 28-story office tower, 39-story residential tower, retail and public space.

Building upon our success within this vibrant city neighbourhood with the recently completed offices at 333 King Street East (home of Coca Cola and George Brown amongst others), 351 King Street East (The Globe and Mail Centre) and 25 Ontario Street (The Shift, currently under construction, we are excited to invigorate this growing area with live, work and play opportunities.

In collaboration with WZMH Architects, Urban Strategies Inc. and STUDIO tla, BA Group and R.J. Burnside, we were able to achieve this milestone and move towards bringing the King East Centre to reality.

 

 

First Gulf and Spear Street Capital partner to develop state-of-the-art life sciences campus
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First Gulf and Spear Street Capital partner to develop state-of-the-art life sciences campus

Mississauga, ON – (June 1, 2022) – First Gulf Corporation (“First Gulf”) has partnered with Spear Street Capital (“Spear Street”), a world-renowned owner and developer of healthcare, research and technology-oriented properties in the United States, Canada and Europe, to re-develop the former Element head office site located within the Sheridan Research Park at 2395 Speakman Drive in south Mississauga, Ontario.

 

The 24.34 acres site was purchased in December 2021 by First Gulf and is now being redeveloped by the partners into a state-of-the-art life sciences campus that can accommodate up to 350,000 square feet of laboratory, office, innovation, and technology space. The initial phase of the development will consist of approximately 145,000 square feet.

 

“We are thrilled to partner with Spear Street Capital on this project. Combining Spear Street’s extensive expertise in life sciences with our execution capabilities will allow us to develop a world-class research and development facility in an outstanding location. We believe that there is significant demand for a development of this caliber and look forward to delivering our first buildings in late 2023” says David Carreiro, President of First Gulf.

 

First Gulf and Spear Street will provide additional information on this project in the coming months.

 

For more information on this project, please contact:

Michael Rak, Vice President, Spear Street Capital
mrak@spearsteetcapital.com or 212-488-1653

Roman Brailovski, Vice President, Strategic Initiatives & Operations, First Gulf
rbrailovski@firstgulf.com or 416-773-7060

 

About First Gulf
First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $5 billion. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America’s premier real estate organizations.
firstgulf.com

 

About Spear Street Capital
Founded in 2001, Spear Street Capital is an owner, developer and operator of distinctive healthcare and research & technology-oriented properties located in the United States, Canada and Europe. Spear Street Capital focuses on assets and portfolios greater than $25 million in total value, targeting well-conceived and located properties that can succeed through creative leasing efforts, physical improvements, entitlement changes or realization of adaptive re-use strategies.
spearstreetcapital.com

First Gulf and Nicola Wealth Real Estate acquire Oakville site slated for Industrial Condos
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First Gulf and Nicola Wealth Real Estate acquire Oakville site slated for Industrial Condos

The partnership acquired the 13.4 acre site to develop small-bay industrial condos for owner-users and investors.

First Gulf and Nicola Wealth Real Estate (NWRE) announce their partnership in the acquisition of 574-576 Bronte Road in Oakville, Ontario. The partners will co-venture on the 13.4-acre property located immediately south of Highway 403, on the West side of Bronte Road at the intersection with Speers Road.

"We are excited to further expand our industrial development pipeline in Ontario with First Gulf who is a trusted and reputable partner," says Ron Bastin, Director of Acquisitions at Nicola Wealth Real Estate. "The property is situated in a strong industrial node and we look forward to launching a unique industrial condo project, leveraging our experience and success with similar projects in Western Canada. This will be the first of a number of new industrial condo projects we are looking to grow in the GTA and Montreal."

"Our strategy is to develop multiple small-bay industrial condo buildings with units ranging from approximately 2,500 to 4,000 sf," says David Carreiro, President of First Gulf. "This project will appeal to owner-users seeking to acquire a modern industrial unit in a market that is starving for both ownership options as well as new inventory. The offering provides users optionality to the rapid and ongoing increase in lease rates."

First Gulf and Nicola Wealth Real Estate have collaborated on several other projects in the GTA including a large development property immediately across Bronte Road, known as Bronte Station Business Park which will comprise over 365,000 sf of modern industrial distribution space.

 

About Nicola Wealth Real Estate

Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $12.1 billion (CAD) of assets under management. NWRE has an experienced and innovative team that sources and asset manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current NWRE portfolio now exceeds $8 billion gross asset value.

 

About First Gulf

First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $4 billion completed since the company's inception in 1987. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. To date, First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America's premier real estate organizations. Established in 1975, with major projects in Canada and the United States, the Group's fully-integrated activities span the entire real estate spectrum.

 

MEDIA CONTACT

Alex Heming
416.773.7295
aheming@firstgulf.com

First Gulf purchases the former Element head office within the Sheridan Research Park in south Mississauga
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First Gulf purchases the former Element head office within the Sheridan Research Park in south Mississauga

First Gulf has continued to execute on its strategic growth and diversification plan with the acquisition of the 24-acre 2395 Speakman Drive in Mississauga.

 

Located within the Sheridan Research Park, the site is currently improved with a 230,000 sq. ft. life sciences building and has permitted density that would allow for significant potential expansion.

 

Sheridan Research Park is situated along the QEW, 3 KM from Clarkson GO station and less than 25 minutes away from both Pearson Airport and downtown Toronto.

 

“We have a strong relationship with the City of Mississauga and are delighted by the opportunity to continue our investment there,“ said David Carreiro, President of First Gulf. “We are particularly excited by the prominent location and versatility of this site. The existing building affords us the opportunity to enter the life sciences space, while the broader site allows for significant additional density across several attractive asset classes.”

 

First Gulf will provide additional information about its plans for this site in the coming months.

 

For more information on this acquisition, or First Gulf’s services, please contact Roman Brailovski, Vice President, Strategic Initiatives & Operations at rbrailovski@firstgulf.com or 416-773-7060.

About First Gulf
First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $4 billion completed since the company’s inception in 1987. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. To date, First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America’s premier real estate organizations. Established in 1975, with major projects in Canada and the United States, the Group’s fully-integrated activities span the entire real estate spectrum.

 

Media Contact
Andy Gibb
416.773.7157
agibb@firstgulf.com

First Gulf and Nicola Wealth Real Estate acquire another 13.5 acres in Whitby
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First Gulf and Nicola Wealth Real Estate acquire another 13.5 acres in Whitby

First Gulf and Nicola Wealth Real Estate (NWRE) have purchased more suburban land in the GTA with the acquisition of a 13.5-acre industrial development property in Whitby, Ontario.

 

Located in an existing industrial node on Hopkins Street, close to downtown Whitby, the site offers exceptional access to the 401 via the Thickson Road interchange – which is less than two kilometres away.

 

A single-storey multi-tenant industrial facility is being considered with a gross floor area of 290,324 square feet. Additionally, the planned building offers a truck court that includes fifty-two (52) trailer parking stalls.

 

“Durham Region is a rapidly-growing area,” said David Carreiro, President of First Gulf. “We are delighted to once again partner with Nicola Wealth Real Estate, who share our belief that the Town of Whitby is ideally situated to fulfil the requirement for quality, available inventory in the GTA industrial market.”

 

NWRE, who continue to focus on acquiring income-producing properties and value-add opportunities in major markets across North America, has collaborated with First Gulf on eight recent projects in the GTA recently totalling over 3.5 million square feet.

 

For more information on the development of this project of First Gulf’s services, please contact Executive Vice President Brian Harrison at bharrison@firstgulf.com or 416-773-7095.

About First Gulf
First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $4 billion completed since the company’s inception in 1987. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. To date, First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America’s premier real estate organizations. Established in 1975, with major projects in Canada and the United States, the Group’s fully-integrated activities span the entire real estate spectrum.

 

About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $11 billion (CAD) of assets under management. NWRE has an experienced and innovative team that sources and asset manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current real estate portfolio exceeds $6 billion gross asset value.

 

Media Contact
Andy Gibb
416.773.7157
agibb@firstgulf.com