A man has died after a stabbing in a Mississauga parking lot and police are looking for one suspect, police say.

The stabbing happened on Tuesday afternoon at the rear of a commercial building on Hurontario Street, near Dundas Street W., Peel police acting Staff Sgt. Taylor Halfyard told reporters. Officers were called to the area at about 12:25 p.m. for reports of a man seriously injured in an altercation.

The victim stumbled toward the main road and collapsed, he said. Residents provided first aid to the man before police, fire and paramedics arrived.

Halfyard said the man was found in life-threatening condition. He was pronounced dead at the scene.

“This is obviously concerning. What I can say is police officers responded quickly,” Halfyard said. “In my opinion, we have a very good grasp on the investigation so far.”

Police have not released the man’s name and age because officers are speaking with next of kin.

Halfyard said police have obtained a CCTV image of the suspect.

The suspect is described as having medium build, with short black hair and a black goatee. He was wearing a white t-shirt, with a black zip-style jacket, wearing fluorescent green pants and yellow Timberland-style boots. He was also wearing a black watch on his right wrist.

Suspect considered armed and dangerous

The suspect was last seen in the area of Hurontario and Dundas streets at about 12:15 p.m.

He is considered to be armed and dangerous. If seen, members of the public should not approach but call 911 immediately, police say.

Halfyard said the suspect is urged to consult a lawyer and turn himself in.

A command post has been set up on Agnes Street, west of the intersection with Hurontario Street.

As a precautionary measure, nearby schools were placed in a hold and secure that lasted about an hour as police investigated.

Anyone who witnessed anything of relevance, or who was driving in the area and has dashboard camera video, is being asked to contact police.