Fortress Real Developments Inc. (Fortress) and Kingridge Developments (Kingridge) have finished constructing Kingridge Square, an office and commercial condominium development in Oakville, Ontario.
Located on Speers Road, east of Dorval Drive in south Oakville. The 4.95 acre property features four buildings at 209, 217, 225 and 235 Speers Road, with unit sizes ranging from about 1,000 square feet to 1,600 square feet.
The first owners at Kingridge Square took possession of their units in early 2017. Tenants represent a variety of small businesses including accountants, tax advisors, lawyers, engineering firms, insurance agents, investment planners, realtors, construction companies and medical professionals.
“It was originally envisioned as a high-rise apartment site, but our partner Dan Marion at Kingridge immediately recognized the opportunity to shift the use to a low-rise office and commercial condo development,” said Fortress CEO Jawad Rathore. “We were fully on board with the shift in built form, and the results speak for themselves.”
The site has easy access to the QEW and is immediately adjacent to the burgeoning Kerr Village area, which provides tremendous exposure and ease of use for the owners and tenants, as well as their customers.
“CBRE did a tremendous job at selling the units, and espousing the virtues of owning an office instead of leasing,” added Fortress COO Vince Petrozza. “Our construction lender, Morrison Financial, was tremendous to deal with, and Penalta Group built the development on time and on budget.”