Cadillac Fairview has acquired a 550,000-square-foot portfolio of four newly built industrial buildings in core Greater Toronto Area West locations.

The portfolio comprises multi-tenant properties at 2425 and 2475 Meadowpine Boulevard, and 2510 and 2520 Royal Windsor Drive in Mississauga, Ont. The LEED Silver-certified assets are fully leased to a diverse tenant roster that includes third-party logistics operators, multinational consumer packaged goods firms and direct-to-consumer retailers, said CF.

The centrally located properties provide access to all 400-series highways and key GTA West labour markets. They are also close to major transportation infrastructure, including the GO Transit system, Toronto Pearson International Airport and the CN rail network.

“This strategic acquisition in the coveted GTA West market is a significant milestone that accelerates our growth in the industrial asset class,” said Sal Iacono, CF’s president and CEO. “We view industrial as a key pillar of our portfolio, offering strong diversification and resilient returns. The addition of this prime, fully-leased portfolio of best-in-class assets positions us for continued success in this exciting, high-demand sector.”

CF develops and acquires industrial properties focused on distribution and logistics. The company said the transaction expands its growing industrial platform, which also includes Beaver Creek Industrial Park in Richmond Hill, Ont., fully leased to Amico Corporation; the 152-acre Rosemont Industrial Park in Balzac, Alta., where design work on the first building is underway; and the 169-acre Buttonville Industrial Park in Markham, Ont., where entitlement efforts are ongoing to support a 3-msf master plan.

Pictured: Future Cadillac Fairview apartment complex near Chinook Centre in Calgary.

Rendering: Courtesy of Cadillac Fairview