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Canada  + Alberta & Prairies + Cross Border News + Maritimes + Pacific Canada + Quebec  + Industrial  | 

Earthworks Done on Pure REIT’s 1.2MSF Toronto Industrial Development

Construction has begun on Pure REIT’s 1.2-milliion-square-foot Lakeridge Logistics Centre in the Greater Toronto Area.

With earthworks completed, footings and foundations are now underway on the facility in Ajax., Ont., said Ben Sykes, an Avison Young principal who specializes in industrial and capital-markets transactions, in a LinkedIn post.

Lakeridge is located at 537 Kingston Road, near Highway 401. The speculative development is expected to alleviate intense GTA industrial real estate supply pressures, at least for a while.

Although the pressures have eased somewhat from recent month, industrial availabilities are extremely limited throughout the region.

Lakeridge is on track for market delivery in the fourth quarter of 2024, said Sykes. The class-A project is being constructed based on zero-carbon and LEED-design principles.

Avison Young is acting as the listing agent for Pure. TriAxis Construction, based in the Toronto suburb of Mississauga, Ont., is managing the project.


Inside The Story

Ben SykesMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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