Choice Properties acquires a 75% stake in 154 acres of industrial land in East Gwillimbury, partnering with Loblaw to develop a 1.2 million square foot distribution facility to enhance supply chain capabilities.

Target Information

Choice Properties Real Estate Investment Trust ("Choice Properties" or the "Trust"), located in Toronto, Ontario, has effectively exercised its right to acquire a 75% stake in 154 acres of developable industrial land in East Gwillimbury, within the Greater Toronto Area. This strategic acquisition is part of a collaboration with Loblaw Companies Limited ("Loblaw"), designed to enhance their operational capabilities. The property, strategically situated at the intersection of Highway 404 and Green Lane East, benefits from excellent access to major transportation arteries.

In conjunction with this acquisition, Loblaw has plans to construct a state-of-the-art, 1.2 million square foot automated multi-temperature distribution facility on part of the property. This facility is expected to significantly bolster Loblaw's supply chain and operational efficiency, with operations projected to commence in the first quarter of 2024.

Industry Overview

The industrial real estate sector in Canada has demonstrated robust growth, particularly in response to the increasing demand for logistics and distribution spaces amid the ris