The two sites total over 68 acres of industrial land which significantly adds to each group’s development pipeline.
Toronto, ON, January 28, 2022 – Nicola Wealth Real Estate (NWRE) in partnership with Hopewell Development (Hopewell) acquired two large industrial development sites west of Toronto. The first property, located at 9555 Airport Road in Hamilton, is comprised of 51 acres of land at the entrance to John C. Munro Hamilton International Airport. The second property, located at 5179 North Service Road in Burlington, boasts 17 acres of land with direct exposure to the QEW (Queen Elizabeth Way).
“Both transactions were sourced off-market,” according to Murray DeGirolamo, President of Hopewell Development. “The Hamilton site presents a unique gateway opportunity providing unparalleled exposure, bound by Highway 6 and Airport Road, adjacent to the entrance of the Hamilton Airport” DeGirolamo adds. “We are excited to have sourced these opportunities given the competitive nature of the market.” The Burlington site offers great exposure to both the QEW and North Service Road with ease of access sitting midblock from both Burloak Drive and Appleby Line. The site will be configured with either a single or two building plan, which can accommodate a wide range of tenant sizes as the industrial market around the QEW continues to expand. The two sites will add over 1.0 million square feet of development to Hopewell’s existing pipeline of projects throughout the GTA.
Given the limited supply of lease options and escalating land prices in other submarkets across the GTA, the industrial markets west of Toronto in Oakville, Burlington, and Hamilton will attract strong interest from users looking to benefit from the regional highway connectivity.
“We are excited to expand our partnership with Hopewell, whom we have completed several industrial projects within other Canadian and US markets,” highlights Alex Messina, Director of Acquisitions at Nicola Wealth Real Estate. “These projects provide good geographic diversity to our other industrial projects we have underway across the GTA, where leasing velocity continues to be strong” Messina adds.
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.
About Hopewell Development
Headquartered in Calgary with offices in Toronto and Phoenix, Hopewell Development LP (“Hopewell”) is a full-service real estate development manager. Hopewell has enjoyed more than 30 years in the real estate development sector. Commitment to teamwork and innovation has led Hopewell to become one of North America’s leading industrial developers. Clients have trusted Hopewell to deliver intelligent and highly personalized real estate solutions through every phase of the development process. Hopewell has an extensive track record in all aspects of industrial real estate development, from site selection, planning and design, entitlement, project financing, development and construction management, property management and leasing.
To learn more about Hopewell Development, visit hopewelldevelopment.com
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