GWL Realty Advisors has acquired a newly built class A distribution facility in Toronto as part of the company’s strategy to expand and modernize its industrial portfolio.

Located at 2750 Morningside Avenue, the approximately 333,638-square-foot property sits on an 18.98-acre freehold site and was completed in 2022. The facility is fully leased, providing what the company described as secure, long-term income.

“At 2750 Morningside Avenue, we have added a best-in-class facility that complements our industrial growth strategy—combining modern functionality, strong tenancy and an exceptional GTA location,” said Steven Marino, GWLRA’s executive vice-president of portfolio management. “It is the type of asset that is positioned to perform through cycles and strengthen the portfolio for the long term.”

The distribution centre features LEED certification, 36-foot clear heights, a 130-foot truck court with 46 truck-level doors, and a loading configuration with 50-by-55-foot column spacing and 60-foot staging bays. The property also has approximately 800 feet of frontage along Morningside Avenue with access through a signalized intersection.

GWLRA said the acquisition aligns with its focus on acquiring modern industrial assets in strategic locations across the Greater Toronto Area.

The firm currently manages an industrial portfolio valued at $5.6 billion across nearly 70 properties, representing more than 30% of its $18.1-billion real estate portfolio nationwide.

Pictured: GWLRA’s future strata-industrial project in Richmond Hill, Ont.

Rendering: Courtesy of GWL Realty Advisors