Blackwood Partners and Nicola Wealth Real Estate have acquired a 34-acre industrial development site located in Grimsby, Canada, southwest of Toronto.
The acquisition, which closed July 26, marks the second co-venture deal by the partnership since Nicola Wealth acquired Blackwood Partners in late 2020. The vision for the property includes the development of more than 700,000 square feet of employment-generating industrial space across two buildings.
The proposed industrial development will accommodate mid- to large-bay users who will benefit from the location immediately fronting the Queen Elizabeth Way, with convenient access to the Greater Toronto Area (GTA) and Hamilton, as well as the U.S. border. Given the scarcity of leasing options for large users and escalating land prices in the GTA, the industrial market in the Greater Golden Horseshoe offers a significant value proposition and is expanding rapidly. The Hamilton, Stoney Creek and Grimsby submarkets are all we
