Case Study

Revitalizing a Landmark Corporate Campus Through Strategic Partnership

11, 15, 19 & 27 Allstate Parkway, Markham

Acquired through a co-ownership in 2016

High-profile corporate campus at Highway 7 and Highway 404

Strategic capital program executed to restore best-in-class market positioning

Revitalizing a Landmark Corporate Campus Through Strategic Partnership

Overview

Crown acquired 50% of Allstate Corporate Centre in 2016 through a co-ownerhip with another real estate investment management company. Located at Highway 7 and the Highway 404 interchange, the distinctive corporate campus was home to a global tenant base including Allstate Insurance, Huawei, Oracle and Grant Thornton. Crown identified an opportunity to revitalize the property and reinforce its position as a leading office campus in the Markham market.

Strategy

Crown implemented a strategic capital plan focused on restoring the campus to a best-in-class standard. The program built on the property’s prominent location, distinctive central square and established corporate tenant base, with targeted investment designed to strengthen the overall asset and its competitive market position.

Results

Crown’s strategy extended beyond the physical repositioning of Allstate Corporate Centre. The renewal of a major tenant strengthened the property’s income profile and leasing stability, helping position the asset for sale. Combined with the repositioning, the renewal reinforced the campus’s market standing and demonstrated the value of integrating physical improvements with proactive tenant and asset management. The resulting stability and enhanced positioning supported the successful sale of the property.

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