- What Oshawa Power acquired a piece of industrial land in north Oshawa, Ont.
- Why The parcel is within a business park that has 500 acres of land slated for industrial development
- What next Industrial construction activity is expected to continue, with companies including Lactalis and Martin Brower planning new facilities
Public utility Oshawa Power and Utilities Corp. has purchased 6.5 acres of developable industrial land in Oshawa, Ont., for $11.4m, Green Street News can reveal.
The site is at 2072 Thornton Road North, at the intersection with Conlin Road in the Northwood Business Park. Royal LePage Commercial represented the unidentified seller. The deal closed this month.
The property is 3 km from Oshawa’s regional airport and 15 km from the Port of Oshawa, an important water transportation corridor for southern Ontario. It’s also close to the Ontario Institute of Technology and Durham College. There’s an onramp to Highway 401 about 20 km away.
Northwood Business Park contains some 500 acres of developable land that is municipally zoned for industrial and other uses. The city does not collect development fees for industrial construction projects in the park.
Also in the business park, Panattoni Development Co. is building a 172,000 sq ft distribution facility at 650 Conlin Road West for logistics company Martin Brower. That property is expected to be completed later this year.
Recent deal activity in Oshawa includes Syvan Developments’ $11m sale of a two-building property totaling 43,000 sq ft of warehouse space at 800 and 850 Wilson Road South last November, according to Green Street’s Sales Comps Database. Last September, a development site at Champlain Avenue and Thornton Road sold for $7.5m.
