TORONTO, March 31, 2022 /CNW/ – Summit Industrial Income REIT (“Summit” or the “REIT”) (TSX:SMU) announced today that it has acquired a 50% interest in a joint venture partnership, with respect to a 40-acre development ready site located in the Aberfoyle Industrial Park, at 7475 McLean Road just East of Guelph, Ontario in Puslinch.
The property is located directly opposite to Summit’s existing 280,000 square foot LEED Gold certified property. It is in a prime industrial location just 1.6 km from Highway 401 in the Aberfoyle Industrial Park which was established to create a central shipping and logistics hub to service southwest Ontario, the GTA, and is close to U.S. border crossings. The property is development ready and can accommodate approximately 790,000 square feet of density. Summit intends to have the completed building(s) designated as LEED certified in keeping with its commitment to ongoing environmental responsibility and sustainability.
“We are pleased to continue to expand our GTA development pipeline with our joint-venture partner. Including this new site acquisition, we now have approximately 2.3 million square feet under development or …
Original Source: benzinga.com