First Gulf has partnered with Nicola Wealth Real Estate (NWRE) to acquire a 27-acre industrial redevelopment property and a portfolio of nine industrial buildings in the Greater Toronto Area.
The first acquisition is located at the intersection of Speers Road and Bronte Road and abutting the GO Rail corridor in Oakville. It consists of an existing 77,000 sf building on a long-term lease to an established manufacturing company with an adjacent 19 acres of vacant land for future industrial development. First Gulf and NWRE plan to construct 350,000 sf of modern industrial facilities on the vacant land which will be suitable for a variety of uses.
The second acquisition is an existing industrial portfolio consisting of nine buildings with a total leasable area of 473,000 sf and occupancy of nearly 100%. The properties are located in Burlington, Hamilton and Stoney Creek with excellent proximity to the QEW.
This product will appeal to small, mid, and large industrial users in a market constrained by quality available inventory, said David Carreiro, President of First Gulf. This portfolio presents an opportunity to increase revenue through capital investment and market re-positioning.
Mark Hannah, Managing Director of NWRE, added: We are excited to partner with First Gulf on these two recent acquisitions. In this ultra-competitive environment, demand for well-located industrial product is challenging to source.
Nicola Wealth Real Estate, who continue to focus on acquiring income-producing properties and value-add opportunities in major Canadian markets, has collaborated with First Gulf on several other projects in the GTA including an office development at 1335 North Service Road in Oakville and a new industrial building at 880 Avonhead Road in Mississauga.
About First Gulf
First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $4 billion completed since the company's inception in 1987. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. To date, First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America's premier real estate organizations. Established in 1975, with major projects in Canada and the United States, the Group's fully-integrated activities span the entire real estate spectrum.
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $9.2 billion (CAD) of assets under management. NWRE has an experienced and innovative team that sources and asset manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current real estate portfolio now exceeds $6 billion gross asset value.
Media Contact
Andy Gibb
416.773.7157
agibb@firstgulf.com
Africa Stories
19/04/2024
Tonight on House of Zwide: Faith refuses to talk to Zola and to discuss the matt...
19/04/2024
Skeem Saam: Thursday's episode, 18 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African s...
19/04/2024
Prison Journalism: Tragic story of Jerry's life and crimesDavid van Nek was incarcerated in Pollsmoor Prison from 2013 until 2015 and participated in the re...
19/04/2024
House of Zwide' Spoiler: Soka dates Mampho and OnaThe House of Zwide' May teasers reveal that Soka will date both Ona and Mampho and get caught. Will h...
19/04/2024
Beer: Seven celebrities talk about their loveBeer is one of the world's most popular beverages. We asked several celebrities about their favourite brews or ...
19/04/2024
Tonight on Scandal: Tlhogi cannot believe what she hears from TapsDon't miss Friday, 19 April's riveting episode of South African soapie Scandal! on e.t...
18/04/2024
Tonight on Smoke and Mirrors: Caesar almost finds Thandiswa with the bloody wedd...
18/04/2024
Taylor Swift's The Tortured Poets Department' set to drop on FRIDAYTaylor Swift will release her highly anticipated record The Tortured Poets Departme...
18/04/2024
Tonight on Skeem Saam: Lehasa puts his plan to eliminate Khwezi in motionDon't miss Thursday, 18 April's riveting episode of South African soapie Skeem ...
18/04/2024
Prison Journalism: April's experiences of black boudoirThabo Mthembu was incarcerated in Pollsmoor Prison from 2014 to 2019. Read Thabo's story
by Tha...
18/04/2024
Prison Journalism: Can gangsterism and violence be reduced in prison?Dean Mashimbwe, a Zimbabwean migrant residing in Cape Town, was incarcerated at Pollsmoor C...
18/04/2024
Software making music: How DJs are doing itSoftware plays a big part in music production, recording, and performances. Here's what DJs are using, and how yo...
18/04/2024
Tonight on House of Zwide: Zanele later blindsides an unwitting Faith into meeti...
18/04/2024
Debut author stuns with international bestselling thriller Anna O'Matthew Blake burst onto the book scene with his bestseller Anna O', a deliciously d...
18/04/2024
Skeem Saam: Wednesday's episode, 17 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African ...
18/04/2024
Watch: Trailers for the best Afrikaans movies ever madeDon't know what to watch? Here are some of the best Afrikaans movie trailers ever made, including Too...
17/04/2024
Tonight on Scandal: Dintle reels in the line but it seems she's the only one...
17/04/2024
Trailer debate: What's the BEST South African movie?The trailer debate is on! We'd like to spark the debate What's your favourite South African mov...
17/04/2024
Tonight on Skeem Saam: Lewatle and Pax are punished for their misdeedsDon't miss Wednesday, 17 April's riveting episode of South African soapie Skeem Sa...
17/04/2024
Tonight on House of Zwide: Isaac tells Funani he has no leads on Nkosi's hij...
17/04/2024
Ster-Kinekor to cut 236 jobs, close THESE nine cinemas in South AfricaSter-Kinekor has announced plans to lay off almost a third of its 728 employees and close ...
17/04/2024
Disney and National Geographic celebrate Earth MonthDisney's storytelling prowess merged with National Geographic's legacy of exploration to celebrate E...
17/04/2024
Prison Journalism: How have you changed as a person while in prison?Jeffrey Shockley is a writer serving a life sentence in the State Correctional Institution-F...
17/04/2024
Tonight on Smoke and Mirrors: Thandiswa is determined to solve Dikeledi's su...
17/04/2024
Smoke and Mirrors: Tuesday's episode, 16 April 2024 [VIDEO]Stay up to date with the latest episodes of your favourite South African soapie on The South Afri...
17/04/2024
Skeem Saam: Tuesday's episode, 16 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African so...
17/04/2024
Scandal!: Tuesday's episode, 16 April 2024 [video]Stay up to date with the latest episodes of your favourite South African soapie on The South African websi...
17/04/2024
Sibongile and The Dlaminis' gains first position on DStvRhythm World's popular telenovela Sibongile and The Dlaminis' is the most-watched TV show o...
17/04/2024
House of Zwide: Tuesday's episode, 16 April 2024 [VIDEO]Stay up to date with the latest episode of South African soapie House of Zwide on The South African ...
16/04/2024
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
16/04/2024
Tonight on House of Zwide: Zanele feels Sandile's not a true friend anyway i...
16/04/2024
Tonight on Skeem Saam: Evelyn learns about the full scale of her son's troub...
16/04/2024
Tonight on Smoke and Mirrors: Caesar and Jaxon finally receive the moment they h...
16/04/2024
Smoke and Mirrors: Monday's episode, 15 April 2024 [VIDEO]Stay up to date with the latest episodes of your favourite South African soapie on The South Afric...
16/04/2024
Skeem Saam: Monday's episode, 15 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soa...
16/04/2024
Historic: House of Zwide' is the most-watched TV show on e.tvE.tv's fashion telenovela House of Zwide' beat Scandal!' for the first time sinc...
16/04/2024
Tonight on Scandal: Jojo's doing his best to make amends, but Phakamile worr...
15/04/2024
Scandal!: Monday's episode, 15 April 2024 [video]Stay up to date with the latest episodes of your favourite South African soapie on The South African websit...
15/04/2024
Tonight on House of Zwide: Isaac asks Bra Zakes for help with any information he...
15/04/2024
Tonight on Skeem Saam: Phomolo threatens Pretty in an attempt to save LehasaDon't miss Monday, 15 April's riveting episode of South African soapie Skeem...
15/04/2024
Tonight on Scandal: Dintle turns to an old friend to assist with her missionDon't miss Monday, 15 April's riveting episode of South African soapie Scand...
15/04/2024
Christianity: Four people who claimed to be JesusChristianity is one of the world's dominant religions, with more than 80% of South Africans following this ...
15/04/2024
House of Zwide: Monday's episode, 15 April 2024 [VIDEO]Stay up to date with the latest episode of South African soapie House of Zwide on The South African w...
15/04/2024
Die Antwoord's collaborators: What they're doing nowDie Antwoord is a controversial hip-hop group founded in 2008. As a duo, they've also collaborat...
15/04/2024
Tonight on Smoke and Mirrors: Thandiswa hides her turmoil and goes through with ...
14/04/2024
Afrikaans television shows make a comebackClassic Afrikaans television shows are making a comeback, according to the streaming service AfriForumTV. Here's w...
12/04/2024
Scandal!: Friday's episode, 12 April 2024 [video]Stay up to date with the latest episodes of your favourite South African soapie on The South African websit...
12/04/2024
Skeem Saam: Friday's episode, 12 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soa...
12/04/2024
House of Zwide: Friday's episode, 12 April 2024 [VIDEO]Stay up to date with the latest episode of South African soapie House of Zwide on The South African w...
First Gulf has partnered with Nicola Wealth Real Estate (NWRE) to acquire a 27-acre industrial redevelopment property and a portfolio of nine industrial buildings in the Greater Toronto Area.
