H&M To Become Sole Tenant of GTA East Industrial Park
A milestone for industrial growth in Ajax.
1.1 min read
Renowned Swedish clothing empire H&M has announced that they will occupy a 716,646-square-foot industrial building currently under construction at the GTA East Industrial Park in Ajax, just east of Toronto.
Representing H&M in the transaction, CBRE worked alongside Blackwood Partners, Crestpoint Real Estate Investments Ltd. and its pension fund partner to finalize the deal. In May of 2019, the GTA East Industrial Park site was purchased in an off-market transaction from a private family, a large landowner in Durham Region. The land was already zoned and serviced when they bought it.
Following the announcement, Blackwood Development Vice-President Minesh Dave stated, “This facility intends to service not only H&M’s existing retail outlets throughout Eastern Canada but also to facilitate some of their online demand as well.”
Learn more about how the acquisition contributes to the industrial growth in Ajax.
Reference
McLean, S. (2021, October 7). H&M to join Amazon at GTA East Industrial Park in ajax: RENX - real estate news exchange. RENX. Retrieved October 8, 2021, from https://renx.ca/hm-join-amazon-gta-east-industrial-park-ajax/.
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