ICM Property Group Announces Sale of 2323 Argentia Road in Mississauga

(December 2025 – Calgary, Alberta) ICM Property Group  is pleased to announce the sale of 2323 Argentia Road (“Argentia”), a 51,000 square-foot single-tenant industrial property located in Mississauga, Ontario.

Argentia was originally acquired in 1987 and has been held within a long-standing investment partnership managed by ICM since 2003. During ICM’s management tenure, the asset benefited from proactive lease structuring as well as strong tailwinds experienced in the Greater Toronto Area (GTA) industrial market between 2020 and 2022. 

In 2022, ICM successfully negotiated an early lease renewal with the building’s tenant – a fortune 500 company- during a period of rapid rental rate growth in the GTA industrial market. This strategic renewal captured meaningful rental uplift and contributed to a significant increase in the property’s valuation over the course of just a few years. 

The asset was sold in December 2025 at a price reflecting more than double its appraised value from 2019, demonstrating the impact of disciplined asset management and favourable market positioning. 

“Proactive asset management strategies by the ICM team and industrial market tailwinds allowed us to capture meaningful value for investors.“

– John Courtliff, CEO, Partner & Portfolio Manager

The sales marks another successful disposition within a legacy portfolio and underscores ICM’s ability to execute value-enhancing strategies across market cycles. 

About ICM Property Group
ICM Property Group offers established expertise across development, asset management, and property management. With capabilities spanning multiple asset classes and markets, we create engaging spaces where people feel connected to their homes, workplaces, and communities.