First Gulf And Nicola Wealth Real Estate Acquire Another 13.5 Acres In Whitby

October 28, 2021

First Gulf and Nicola Wealth Real Estate (NWRE) have purchased more suburban land in the GTA with the acquisition of a 13.5-acre industrial development property in Whitby, Ontario.

Located in an existing industrial node on Hopkins Street, close to downtown Whitby, the site offers exceptional access to the 401 via the Thickson Road interchange – which is less than two kilometres away.

A single-storey multi-tenant industrial facility is being considered with a gross floor area of 290,324 square feet. Additionally, the planned building offers a truck court that includes fifty-two (52) trailer parking stalls.

“Durham Region is a rapidly-growing area,” said David Carreiro, President of First Gulf. “We are delighted to once again partner with Nicola Wealth Real Estate, who share our belief that the Town of Whitby is ideally situated to fulfil the requirement for quality, available inventory in the GTA industrial market.”

NWRE, who continue to focus on acquiring income-producing properties and value-add opportunities in major markets across North America, has collaborated with First Gulf on eight recent projects in the GTA recently totalling over 3.5 million square feet.

For more information on the development of this project of First Gulf’s services, please contact Executive Vice President Brian Harrison at bharrison@firstgulf.com or 416-773-7095.

About First Gulf

First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $4 billion completed since the company’s inception in 1987. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. To date, First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America’s premier real estate organizations. Established in 1975, with major projects in Canada and the United States, the Group’s fully-integrated activities span the entire real estate spectrum.

About Nicola Wealth Real Estate

Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $11 billion (CAD) of assets under management. NWRE has an experienced and innovative team that sources and asset manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current real estate portfolio exceeds $6 billion gross asset value.

Media Contact

Andy Gibb
416.773.7157
agibb@firstgulf.com