Going forward, the NAIOP Developing Leaders Committee will look to feature a recent, significant real estate deal in which NAIOP Developing Leaders have had the opportunity to contribute.
This past quarter, Lowland Properties Group acquired three adjacent buildings, on 9.36 acres of land, from 259-335 Gage Avenue in Kitchener. The small and mid-bay, light industrial, assets were fully occupied at the time of sale and totaled 160,000 square feet across the portfolio. The buildings are diverse in unit size, ranging from just under 3,000 sf to 32,000 sf, and possess flexible zoning which allows for a wide variety of uses. Lowland Properties Group partnered with Roy-L Capital Corporation on the $19.9 million acquisition that further establishes Lowland’s presence in the Waterloo Region; a burgeoning market, where continued economic growth is expected. NAIOP Developing Leader Tim Kennedy (Lowland Properties Group) was instrumental to the deal.