Fengate Real Asset Investments ("Fengate") in Oakville, Ontario announced that it has broken ground on the Oak West Corporate Centre in Oakville. This new flex office development is located just south of the Q.E.W., near the intersection of Burloak Drive and Great Lakes Boulevard.
Phase one of the Oak West Corporate Centre will consist of two flex office buildings totaling over 71,000 square feet and one industrial/flex office building totalling over 100,000 square feet. Phase two, while yet to be determined, can accommodate approximately 500,000 square feet with a combination of flex office and service retail.
"The Oak West Corporate Centre is an exciting development opportunity that enhances the quality and return profile of our portfolio for the benefit of our investors," stated John Bartkiw, Managing Director, Real Estate.
Fengate is focusing on the development of flex space, which can provide flexibility and the ability to create unique, customized spaces as well as provide a greater density of occupancy - features prospective clients have come to expect. In addition, the amenities nearby, such as the 530,000 square foot Power Centre, public transportation through municipal and GO transit, and access to several green spaces with walking trails, provide a well-balanced location for prospective tenants.
Mr. Bartkiw added, "Fengate continues to deliver on its investment and strategic mandate, developing high quality real estate assets that generate attractive returns."
Oakville has seen a steady rise in the amount of flex space coming on market over the past few years and the addition of Fengate's Oak West Corporate Centre offers development sites in an accessible and professional setting for those companies seeking a west end location.
Fengate possesses extensive experience evaluating and executing investments in the real estate sector. With over $1.0 billion in real estate assets under management, Fengate provides investors with an opportunity to reach an alternative asset class with customized investment attributes.