Nicola Wealth Acquires Rare Industrial Development Site in East Toronto
1 min read
The current market doesn’t seem to be slowing down Nicola Wealth Real Estate after their recent acquisition of a 21-acre industrial site in Scarborough, just east of Toronto. The site will see a significant redevelopment as the investors plan to develop a new warehouse facility, roughly 350,000 square feet in size.
Once the existing tenants vacate the property, the redevelopment will soon be underway. Ron Bastin, Director of Acquisitions at Nicola Wealth, stated, “Ontario is a key market. The existing facility is about 430,000 feet, so the plan is to demo the building, scrape the site and build a new generation 350,000-square-foot, approximately, warehouse distribution facility.”
Situated along what is known to be one of North America’s busiest highways, Highway 401, the site is a rare industrial development opportunity, one that Nicola Wealth is eager to transform. Once completed, there is no doubt that potential investors will jump for the opportunity for the highly sought-after property and its location.
Learn more about Nicola Wealth Real Estate’s acquisition.
Reference
Wilcox, D. (2021, April 15). Nicola Wealth buys 21-acre Toronto industrial development site [Web log post]. Retrieved April 15, 2021, from https://renx.ca/nicola-wealth-buy-21-acre-toronto-industrial-redevelopment-site/
About Royal LePage Commercial Westhaven
Our commercial real estate industry and segment expertise coupled with Royal LePage’s national platform and integrated systems provides best-in-class real estate strategies and a competitive advantage that can’t be beat.
We help businesses identify opportunities and maximize their return on investment with actionable goals, centralized support services and a strong commitment to customer success. Our national partnerships help us establish, guide and execute successful business investments.
We offer commercial real estate agents a professional environment, focused 100% on commercial real estate. Agents can expect unlimited market boundaries to build their business without the interference of a heavy corporate structure. In addition, agents will be able to access Royal LePage’s national referral network of over 18,000 agents to develop more business in their target markets with incoming leads generated daily. The brokerage provides agents a suite of services including marketing, promotional, networking and professional development needs.
Innovation and service excellence have developed and propelled the Royal LePage brand since 1913. When you join Royal LePage Commercial Westhaven brokerage, you have the backing of one of the most powerful commercial real estate services company in Canada—Bridgemarq Real Estate Services Inc. (formally Brookfield Real Estate Services Inc.). Bridgemarq is a leading provider of services to real estate brokers and agents. They are an affiliate of Brookfield Business Partners, a business services and industrials company focused on owning and operating high-quality businesses and is listed on the New York and Toronto stock exchanges.