CONCERT PROPERTIES ACQUIRES TWO NEW INDUSTRIAL PROPERTIES IN ONTARIO

On Feb 08, 2008 under Commercial Properties

Vancouver, BC, Canada –Concert is pleased to announce that it has acquired two industrial properties at 8150 and 8162 Keele Street in Vaughan, Ontario.

This acquisition is Concert’s first industrial asset in Vaughan, the fifth largest industrial market in the Greater Toronto Area (GTA), and consists of two industrial warehouse/manufacturing facilities totaling 232,398 square feet.

“Vaughan’s industrial market is one of the strongest in the GTA,” said Alan Whitchelo, Senior Vice President, Industrial & Commercial, Concert Properties Ltd. “This strategically located asset will complement Concert’s current holdings in Mississauga and Brampton, providing diversification for the company’s portfolio in terms of use and geography.”

Vaughn is home to CN's largest rail yard and intermodal facility, located next to the new property. This industrial community also benefits from the fact that it is drawing tenants from Mississauga due to the lack of larger industrial spaces and increasing traffic volume in that area.

The 11.14-acre site contains a 115,000-square-foot warehouse and a 117,398-square-foot warehouse/light manufacturing facility for a total site coverage of 48 per cent.

The property is currently 100 per cent leased to two tenants – Keele Street Warehousing and Logistics occupies 8150 Keele Street and Alcan Cable occupies 8162 Keele Street.

This strategically located asset will complement Concert’s current holdings in the Greater Toronto Area, providing diversification for the company’s portfolio in terms of asset class and geography. Concert’s growing industrial and commercial portfolio in Ontario is now in excess of 2.4 million square feet.

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