- What The company has bought four properties in Brampton and Scarborough
- Why Alberta Investment Management Corp. sold the properties in June
- What next Pure sold two properties to CNFL in May
Pure Industrial Real Estate Trust has purchased four industrial properties in the GTA for a combined $149m, Green Street News can reveal.
The seller was Alberta Investment Management Corp. The deals closed on June 19.
Toronto-based Pure paid $45m, or $258/sq ft, for a 174,000 sq ft building at 15 Precidio Court in Brampton, in the Torbram Road industrial area. The 19-year-old multitenant property has a 28-foot clear height and 19 loading docks.
Also in Brampton, Pure purchased a 120,000 sq ft building at 350 First Gulf Boulevard for $30m, or $251/sq ft. It has 13 loading docks and a 28-foot clear height. The building was completed in 2003.
Pure also picked up multiple Scarborough buildings at separate addresses in the McLevin Avenue business park.
The trust paid $45m, or $240/sq ft, for 140-150 McLevin, totaling 189,000 sq ft. The property has multiple tenants including a security equipment supplier and a battery provider. The complex is close to the Highway 401 on-ramp at Neilson Road.
Pure also bought a 119,000 sq ft property at 120 McLevin for $29m, or $240/sq ft. The building was built in 1981 and last renovated in 1987.
Separately, Pure sold two properties to CNFL, a private real estate firm based in Toronto, for $28m. Both deals closed on May 17.
CNFL bought a 50,000 sq ft building at 6760 Campobello Road for $18.5m, or $370/sq ft, and a 30,000 sq ft property at 6616 Campobello Road for $9.5m, or $317/sq ft.
Pure also is offering an industrial building at 1195 Clark Boulevard in Brampton for sale or lease. The asking rental rate is $17.75/sq ft. CBRE has the listing.
The asset is close to Pearson International Airport and the Brampton CN Intermodal. It is available immediately.
The building has 77,000 sq ft of industrial space and 6,000 sq ft of office area, for a total area of 83,000 sq ft. It has a clear height of 20 feet. There are six truck-level doors, three drive-in doors, and a fenced shipping yard with two points of entry, according to marketing materials.
Pure, one of Canada’s largest institutional buyers of industrial properties, is a portfolio company of Blackstone and Ivanhoe Cambridge.
