Huntington REIT has purchased a 249,087 square foot industrial building via a sale-leaseback with a 20 year term at 505 Industrial Drive in Milton, Ontario from Northern Group Retail who occupies the entire building for approximately $65 per square foot. The property sits on 10.7 acres The vendor purchased the property for $19 per square foot in August of 1998. The property was on the market for approximately 9 months.
I will be providing a National Industrial Market Overview and making forecasting for 2007 on CFRA radio located in Ottawa, ON on Friday October, 20. Listen in for insight.
Curity Business Park Inc. has purchased a 283,000 square foot industrial building with 13.5' - 41' clear height at 6 Curity Avenue in Scarborough, Ontario from BBA Nonwovens for approximately $21 per square foot. The vendor purchased the property for $19 per square foot in August of 1998. The property was on the market for approximately 9 months.
Cross Canada Auto Body Supply has purchased a 158,000 square foot industrial building with 16' clear height at 100 Kennedy Road in Brampton, Ontario from Giffels International for $47 per square foot. The geographical area is undergoing tremendous revitalization and the vendor has enjoyed a healthy increase in the value of the property since being purchased in July 2005.
The Conference Board of Canada (CBoC) wrote briefly on October 2, 2006 about the economic outlook for the US. Have a look at the basics behind the report by clicking here.
Prologis has successfully executed an agreement for a significantly sized distribution centre in the GTA West. Located in the area of Highway 401 & Highway 10 in Mississauga, ON, the facility will house approximately 650,000 of logistics space and will be used by a Third Party Logistics (3PL) provider whose client is a major retailing concern throughout North America.
Dr. Sherry Cooper spoke to a large audience this morning at the Real Leasing conference in Toronto. Generally, Dr. Cooper has a very positive outlook. Some of her suggestions / predictions are as follows: