Concert acquires two significant industrial assets in Burlington
Vancouver, BC – Concert is pleased to announce the continued growth of its income-producing property portfolio through the acquisition of two high-quality industrial properties in Burlington, Ontario.
Built in 2005, the 177,060-square-foot, single-tenant industrial building at 1022 Champlain Avenue is a ‘class A’ warehouse and distribution facility with 28’ clear ceiling heights, 20 truck-level doors and one drive-in shipping dock. The 151,573-square-foot, multi-tenant industrial building at 4041 North Service Road is an industrial facility with 20-22’ clear ceiling heights, 17 truck-level doors, two drive-in shipping docks and nearly six acres of additional land for possible future expansion. Both properties are fully leased.
“The acquisition of these properties brings Concert's holdings of income-producing property to more than 10.7 million square feet," said Concert's President and COO, Brian McCauley. "Both properties reflect Concert's ongoing intention to diversify the company’s portfolio in the GTA through the acquisition of strategically-located industrial assets."
The properties are situated in proximity to major transportation hubs – the Toronto Pearson and John C. Munro Hamilton International Airports as well as the Port of Hamilton. Additionally, the properties benefit from easy access to the QEW/403 and 407 highways.
With operations in British Columbia, Alberta and Ontario, Concert is an award-winning diversified real estate enterprise with expertise in developing rental, condominium and seniors housing; developing and acquiring commercial, industrial and infrastructure properties; and property management. www.ConcertProperties.com
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