Crown Realty Partners (“Crown”) announced that it has closed on the disposition of 600 Cochrane Drive, Markham, Ontario. The property was part of a portfolio acquisition made earlier this year on behalf of its fund, Crown Realty III Limited Partnership (“CR III LP”), together with 575 and 675 Cochrane Drive.
600 Cochrane Drive is a Class A office building consisting of 100,161 square feet, located directly across the street from 675 Cochrane. Built in 2001, the five-storey building is situated on a sizable 4.24 acre site and offers 396 surface parking stalls. Emily Hanna, Partner, Investments of Crown Realty Partners, commented, “This disposition is part of Crown’s ongoing efforts to create value and maximize investor returns through the well-timed disposition of assets.” Crown continues to pursue value-add opportunities for CR III LP.
675 Cochrane Drive remains within the Crown portfolio and is the premier office complex in Markham. The property consists of 365,145 square feet of space within three office towers that are connected by an expansive atrium. Tenants of the complex benefit from direct access to major highways including the 404 and 407. Onsite amenities (food and soon-to-be fitness) set the complex apart as does the expansive underground parking facility (which includes hybrid car charging stations). The complex contains a mix of some of the most enterprising organizations and is “the” destination for corporate office users in Markham.