| September 1, 2006 |
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TransGlobe continues to build commercial presence with acquisition of two prominent buildings along Hwy 427 Corridor. |
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Etobicoke –ON – September 1, 2006 – Industry maverick, TransGlobe Property Management, steps up its game with the purchase of two prominent commercial towers. |
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Located at 401 and 405 The West Mall, at the North-East corner of Burnhamthorpe Road and The West Mall in Etobicoke, the buildings will be re-named and re-branded as “Commerce West.” Situated on the Hwy 427 Corridor, the buildings join a group of TransGlobe Hwy 427 properties: West Metro Corporate Centre, Airway Centre, Valhalla Executive Centre and 2 Gibbs Road. |
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This latest deal adds another 420,000± sq. ft. of commercial space and hikes the company’s holdings up to 4.5 million-plus. TransGlobe is believed to be the largest landlord on the 427 Corridor. This deal represents one of the largest commercial real estate transactions in western GTA this year. |
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With only a six-minute drive to the airport and 20 minutes from downtown, the buildings offer a prime location for commercial clients who want proximity to both. Moreover, the major traffic flow along this stretch gives businesses the added advantage of having their brand exposed to a wider audience. |
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The buildings are ideally located in the centre of the 400 series highways. It is one of the busiest highways in the GTA and is a main artery to all highways, making it an important link to Hwy 401, Hwy 407, the QEW and Hwy 400. According to MTO, more than 300,000 drivers and $676 million worth of goods travel along this section of the road everyday. |
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“Today’s purchase affords TransGlobe an even stronger presence on the 427 Corridor. We are thrilled about this latest acquisition and the caliber of tenants represented in both buildings,” says TransGlobe President Daniel Drimmer. |
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The company has established a solid rapport with client groups that prefer a suburban location, without compromising image and convenience. Unlike some institutionalized landlords, TransGlobe’s entrepreneurial flair has allowed the company to respond quickly to clients’ needs, deliver creative solutions without delay and negotiate leases in record time. |
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Tenants can expect to see enhanced landscaping and signage treatments, which will appeal to them and the overall community. |
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“We’re mindful that our tenants have consciously chosen a TransGlobe building to house their business. We have consistently enjoyed low vacancy rates and unparalleled loyalty and our tenants deserve nothing less than prompt response to issues,” says Leonard Drimmer, TransGlobe CEO. |
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In addition to representing a milestone in growth along the 427 series highway in Toronto, this deal exemplifies the company’s focus on expansion in Western GTA and providing its tenants with superior property management solutions that is second to none. |
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| Ownership and management of the properties begin today. |
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About TransGlobe Property Management: TransGlobe Property Management is the landlord for multiple industrial, commercial and residential properties from coast-to-coast. Locations include Halifax, Ottawa, Cornwall, the GTA, Burlington, Kitchener-Waterloo, London, Vancouver, Victoria and other major population centres. |
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With more than a decade of management experience, a portfolio that includes over 16,000 apartments and more than 4.5 million square feet of commercial space, TransGlobe is dedicated to property management with integrity. |
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If you would like more information about this topic, or to schedule an interview with Daniel Drimmer, President or Leonard Drimmer, CEO, please call Brenda Hajdu at 416-234-8444 ext. 1920 or email bhajdu@GOtransglobe.com. |
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