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PROREIT Comes to Toronto With Two Industrial Acquisitions


PROREIT has made its first foray into the Toronto market with an agreement to acquire two Etobicoke industrial properties: 209 Carrier Dr (197k SF), pictured above, and 1870 Albion Rd (101k SF), both of which are 100% leased. CEO James W. Beckerleg said the deals—part of a $40.5M spree by PROREIT that also includes the acquisition of six commercial properties in New Brunswick—take his trust “across a new threshold.” PROREIT's portfolio will now include 29 properties (1.43M SF GLA) in Eastern Canada. Government and national tenants represent 85.8% of the acquired properties’ base rent.