Oxford Properties has leased a 1.1-million-square-foot speculative industrial building at its James Snow Business Park in Milton, Ont., to ID Logistics.

According to Oxford, the deal ranks as the largest-ever spec industrial lease completed in Canada. The deal, which covers the campus’s largest building at 10725 Louis St. Laurent Ave., is also one of the largest industrial leases on record in the country.

The lease, together with a separate approximately 300,000-sf agreement covering another building to an unidentified logistics company, has brought the four-building, 1.55-million-square-foot James Snow Business Park to 100% occupancy.

“This landmark lease and full occupancy achievement mark a defining milestone in the evolution of James Snow Business Park for Oxford—a story that began with a bold vision and one we’re proud to continue advancing through a multi-phased master plan,” said Jeff Miller, head of North American industrial at Oxford.

“This outcome reflects our team’s deep understanding of customer needs, and our ability to deliver highly functional, flexible space that creates an attractive place to work for our customers’ employees. Securing high-quality leases like this is central to how we generate durable income and deliver strong, risk-adjusted returns for the pensioners we invest on behalf of—and we’re incredibly proud of what the team has achieved.”

Oxford developed the industrial campus speculatively on a 246-acre greenfield site in the Toronto suburb to help address demand for logistics infrastructure. The company said the project is part of its broader vision for James Snow Business Park, a planned 3.3-msf, 14-building industrial campus in one of the Greater Toronto Area’s key logistics hubs.

Oxford said its North American industrial platform now manages more than 55 msf feet of industrial space.

The leased development includes rooftop solar infrastructure, outdoor amenity spaces and a trail network, and was designed to preserve and enhance natural heritage features on the site.

Pictured (centre): Oxford’s new 1.1-million-square foot industrial building within the James Snow Business Park in Milton, Ont.

Image: Courtesy of Oxford Properties

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