142 hectares to be developed at Hwy 403 and Rest Acres Rd.
Brant County officials are looking forward to working with a Mississauga company to bring new jobs to the community, the county’s general manager of strategic initiatives says.
“The County of Brant is thrilled that the area is being recognized for its excellent investment potential,” Alison Newton said. “We look forward to working with Orlando to bring new jobs and prosperity to the region.
“The development will be an industrial development and given the size, it will bring approximately $50 million (in full build out) in development charges to the County of Brant.”
Newton made the comments after being asked about Orlando Corporation’s purchase of close to 142 hectares (350 acres) of property at the northwest corner of Highway 403 and Rest Acres Road.
Newton said the land is designated as employment land and the Orlando development is aligned with the intent of the county’s new official plan.
There are no tenants planned for the site as yet, Newton said.
Orlando, according to the company’s website, is the largest privately-owned industrial real estate developer and landlord. It owns, leases and managed more than 46 million-square-feet of industrial, office, and retail property.
Orlando president Blair Wolk said the purchase is a “great opportunity to expand the company’s portfolio in a market looking for more business development opportunities.”
The company intends to start earthworks – servicing of the site – later this year and commence building construction in 2024.
The company has a long term development plan of primarily industrial buildings for warehousing, logistics, manufacturing and service-oriented industries.
“Brant County has been very receptive to our plans for the site,” Wolk said in an e-mail response to questions from The Expositor. “We are aligned in that we envision a high-quality business park providing many job opportunities for area residents.”
The deal was first reported by the Real Estate News Exchange. The article, citing information from Forge & Foster, states the property was purchased for $190 million. Forge & Foster is a Hamilton investment firm that tracks real estate transactions across southwestern Ontario, the News Exchange article says.
Wolk declined to comment on the specifics of the purchase including price.
The transaction is the third large land purchase to take place in Brant County and Brantford in just over a year.
Panattoni Development Company announced a large warehouse development on a 36-hectare property south of Highway 5 in St. George. The company plans to build two large industrial warehouses with offices, parking and truck loading spaces at 282A Highway 5.
Then, in April 2022, the Real Estate News Exchange reported that Panattoni had purchased 171 hectares (423 acres) in the Oak Park Road, Powerline Road and Highway 403 area.
The property is a rehabilitated gravel pit with access to Highway 403. It has been vacant for years largely because of a lack of servicing.
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