Montreal-based developer Broccolini has kicked off 2022 with the acquisition of several development parcels located just outside the Toronto region. Among the sites are a 52-acre swath of industrial land located in Puslinch near the 401, 270 acres of land on Dickenson Road near Hamilton’s John C. Munro International Airport, and 92 acres of land on Heart Lake Road in Caledon.
Broccolini purchased the Puslinch site from a private seller at the end of January. Plans for the site are not yet final, but will likely include the construction of one or multiple buildings for warehousing purposes, with completion set for late 2023 or early 2024.
The Hamilton land has direct airside runway access and is ideally suited to accommodate large freight-handling facilities. Offering two million square feet of development potential, numerous building sizes for the site are possible. Construction is expected to start this year and will likely take two to four years to complete.
In Caledon, the 92-acre land parcel located at 12304 Heart Lake Rd. fronting Highway 410 was acquired in a private sale and represents a “massive opportunity” for large-scale industrial development.
Meanwhile, in June 2021, Broccolini purchased 622 acres of prime industrial land in Southwold, Ontario – previously home to the Ford St. Thomas Assembly Plant, which closed in 2011. According to CBRE, the firm plans to create a huge new regional industrial node at the site, given it sits in an important transportation corridor for Southern Ontario.
“We continue to see migration of both capital and occupiers outside of the GTA and into the Midwestern and Southwestern Ontario markets,” said CBRE Vice Chairman Kyle Hanna, who represented Broccolini in the deal. “This transaction underscores the depth of demand that the industrial market has for large scale new facilities and development opportunities.”
In late 2021, Broccolini also purchased a 42-acre parcel of land on Thornton Rd. North in Oshawa where it is currently contemplating the development of two industrial buildings for single- or multi-tenant uses.
