GWLRA Acquires Quality Industrial Asset on Behalf of Canada Life
April 8, 2019
On behalf of Canada Life, GWL Realty Advisors (GWLRA) has acquired 205 Market Drive in Milton, ON. 205 Market Drive is a 241,596 sq. ft. modern Class A industrial building situated on a 23.6-acre land parcel. It is well located within a growing industrial node and is in proximity to the 401 highway, providing connectivity to the balance of the GTA’s 400 series highway system.
The acquisition will provide its clients with an investment into an asset class that is experiencing strong market fundamentals, driven by the logistics and e-commerce sectors. As part of the transaction, GWLRA will be expanding the building by 157,230 square feet.
“The Market Drive investment aligns with the strategic objective to increase the respective portfolios’ allocation to the industrial sector, while adding a quality, new generation facility in the Greater Toronto Area,” said Steven Marino, Senior Vice President, Portfolio Management, GWLRA. “Equally important, it provides a secure long-term cash flow with contractual increases, providing an attractive return profile.”
205 Market Drive marks GWLRA’s fifth acquisition and first industrial acquisition of 2019.
GWL Realty Advisors Inc. is a leading North American real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. GWL Realty Advisors Inc. manages a diverse portfolio of office, industrial, retail and multi-residential assets as well as an active pipeline of new development projects.