This prime industrial property comprises two cross-dock buildings totaling 147,000 sf on 30.0 acres of land providing good holding income with the long-term prospect of developing up to 575,000 sf of new industrial distribution space
Vaughan, ON, January 12, 2022 – Nicola Wealth Real Estate (NWRE) in partnership with Northbridge Capital (Northbridge) has acquired a large industrial property situated at 101-205 Doney Crescent, Vaughan, ON. The transaction, sourced by our partner Northbridge, expands NWRE’s presence in this essential Canadian market.
The acquisition adds two existing cross-dock buildings totaling 147,000 sf on 30.0 acres of land to a growing GTA portfolio. The property was acquired to provide holding income while the partnership pursues a re-development strategy for up 575,000 sf of new industrial distribution product in a supply constrained market.
“We are excited to expand our industrial footprint in the GTA, in the largest market in Canada,” highlights Ron Bastin, Director of Acquisitions at Nicola Wealth Real Estate. “This acquisition is the 12th joint venture with Northbridge and presents an opportunity to develop new industrial product to meet the demand of industrial users in a market with a clear need for more supply.”
“This high exposure property is located near the intersection of Highway 407 and Keele Street in Vaughan, one of the strongest industrial submarkets in Toronto,” Bastin adds. “Given the strong appetite for industrial distribution space to service the rapid growth in e-commerce demand, the large land parcel and flexible zoning allows for future optionality for multiple uses and configurations.”
NWRE continues to concentrate its growth in major Canadian markets such as Vancouver, Winnipeg, Calgary, Victoria, Kelowna, Montreal and Toronto with a focus on acquiring income-producing properties and executing development and value-add strategies.
To learn more about the Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with over $11.5 billion (CAD) of assets under management (AUM). NWRE has an experienced and innovative team that sources and asset-manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current NWRE portfolio now exceeds $7.5 billion gross asset value.
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