GWL Realty Advisors has entered the Canadian strata-industrial market, marking a strategic expansion beyond its traditional focus on income-producing real estate assets.

The firm said the move reflects growing demand for small-bay industrial strata units in supply-constrained ownership markets across Canada.

“Expanding into the industrial strata market is part of GWLRA’s value-generation strategy and is a natural extension of our capabilities and development expertise,” said Glenn Way, GWLRA’s president. “We are focused on widening our suite of investment offerings in support of investors’ long-term real estate objectives.”

GWLRA’s first project in the asset class, branded Leslie Link, is a small-bay industrial-condominium development at 9609 Leslie Street in Richmond Hill, Ont. The project will comprise 120,000 square feet with the flexibility to be divided into 14 condo units on a 6.4-acre parcel.

The land was acquired in 2021 as part of a larger 44.7-acre purchase. The site is located on a major arterial road in an underserved part of Richmond Hill where owner demand is strong and no new strata developments have been completed in more than a decade.

“By drawing on GWLRA’s extensive development expertise to help unlock the unrealized potential of this land, we aim to enhance our clients’ position in the market,” said Steven Marino, the firm’s executive vice-president of portfolio management.

The company said its entry into the industrial strata sector is supported by market research, established investor relationships and a track record of development across multiple asset classes.

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

Rendering: Courtesy of GWL Realty Advisors