Three new investment announcements in North York, totalling over $1.5 Billion, proves yet again the confidence in Toronto’s Industrial market.
Investment Snapshots
- Downsview Airport – PSP Investments – $816 Million
Public Sector Pension Investment Board (PSP Investments) will acquire Bombardier Inc.’s approximately 370-acre Downsview Airport, adding to its $139.2 Billion of net assets under management.
According to PSP’s press release, Bombardier will continue to operate for a period of up to three years, with two optional one-year extension periods.
PSP also added, “We are excited to be given the opportunity to invest in this community and we look forward to listening to and collaborating with all stakeholders in Toronto, Ontario and Canada,” added Kristopher Wojtecki, Managing Director, Real Estate, PSP Investments.
“This investment is important for PSP as it allows us to expand our real estate footprint in a global city which is in our backyard.”
2. Sanofi Headquarters (Steeles/Dufferin) – Sanofi – $544 Million
Sanofi Pasteur will invest $544 Million into constructing a state-of-the-art 150,000 sq. ft. vaccine manufacturing facility on its existing campus, creating or maintaining 1,250 jobs.
This injection will expand its Canadian operations and further proves its long-term focus, commitment, and confidence in the local and national economy.
The company aims to double its output of life-saving vaccines by 2023 and launch its Canadian research whooping cough vaccine into 30+ international markets.
According to Sanofi Pasteur’s press release, “Canada has a strong legacy in the research and development of vaccines. With this investment, Sanofi is renewing our longstanding commitment to making Canada central in our effort to protect and improve human health across the globe,” said David Loew, executive vice president and head of Sanofi Pasteur.
“Vaccines save three million lives every year and this new facility will take us one step closer to a world where no one suffers or dies from a vaccine-preventable disease.”
3. 400 Industrial Centre (2233 Sheppard Ave W) – One Properties – $150 Million (estimated)
One Properties has announced plans to demolish existing warehouse of approximately 1.1 million square feet and build a LEED Certified industrial park on the 54-acre site, replacing what was once the former Eaton’s and Home Depot warehouse.
The proposed industrial park will consist of 3 industrial buildings, totalling over 1.1 million square feet of space, valued in excess of $150 million, located close to transportation routes, public transportation and other corporate tenants. 550,000 square feet has already been leased to TTC.
The development represents a superb opportunity for any occupier with substantial industrial, manufacturing, shipping or transportation needs in the Greater Toronto Area.
Goran Brelih and his team have been servicing Investors and Occupiers of Industrial properties in Toronto Central and Toronto North markets for the past 25 years.
For more information on GTA Industrial Real Estate Market or to discuss how they can assist you with your real estate needs please contact Goran at 416-756-5456 or email at goran.brelih@cushwake.com
