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First Industrial Nabs 61 Acres Near Toronto

VAUGHAN, ONTARIO-Central to a major distribution hub, the parcel will tap industrial demand in both US and Canada.

By Michelle Deakin | Updated on March 07, 2008

VAUGHAN, ONTARIO-First Industrial Realty Trust has purchased 61 acres of land for future development in the Toronto market. Based in Chicago, the company specializes in industrial real estate and supply chain properties. Company officials would not disclose the purchase price.

“As the fourth largest industrial market in North America, Toronto is a critical distribution hub for Ontario, Northwestern Quebec, and the Northeastern US,” company spokeswoman Anne Barer tells GlobeSt.com “There are excellent opportunities for investment due the strong demand for industrial space and limited vacancy in the market.

First Industrial purchased the land as a future development site to accommodate demand for build-to-suit and speculative distribution centers or other industrial facilities. The parcel is located in the emerging Highway 247 Corridor, one mile south of the Greenbelt, which circles the Greater Toronto area. “Due to its proximity to the major highways and Canadian Pacific Railroad’s largest intermodal facility, this land site is ideally located to serve customers’ supply chain needs in this market,” says David Carreiro, regional director for First Industrial’s Toronto office.

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