Granite Real Estate Investment Trust has sold a Toronto property for $16.5 million, highlighting the changing role of industrial real estate as some properties move beyond traditional warehouse and manufacturing uses.

The industrial-focused REIT disclosed the disposition in its second-quarter results, identifying the asset as a 41,200-square-foot income-producing property in Canada. Granite tells Connect the property was 20 Pullman Crt. in Scarborough, Ont.

The sale closed July 20. Granite did not disclose the buyer or provide additional details on the rationale for the disposition.

The property has evolved from a traditional industrial building into a data centre asset. Originally developed as an industrial facility in the late 1990s, 20 Pullman Crt. now operates as eStruxture’s TOR-4 data centre, a Toronto facility with 10 megawatts of capacity.

The Scarborough transaction highlights the changing role of industrial real estate as some properties move beyond traditional warehouse and manufacturing uses.

For Granite, the sale represents the monetization of a specialized asset within its broader industrial portfolio. The company is primarily focused on logistics and manufacturing properties across North America and Europe.

Granite has not identified the purchaser of the Scarborough property.