The 5,200-square-foot warehouse, located at 2764B Sheffield Rd., is positioned to serve not only Ottawa, but other nearby metropolitan areas, the company said in a news release.
It's just the latest in a series of hotel projects launched by the Rimap group of companies in a bid to add new inventory to what it feels is an underserved market.
T.O.-based firm acquires 90 per cent stake in 2.8-million-square-foot warehouse, which opened last year and is the largest facility of its kind in Canada.
Cornwall council last week approved the sale of 158 acres of land at the industrial park, which is located in the east end of the city near Highway 401.
High demand, rising rents and the recent successes of other projects are leading to speculative developments picking up across the city, particularly near 400-series highways.
It's the second major deal for an Ottawa-area property the global investment firm has announced this week.
Capital's location between Toronto and Montreal makes it a sought-after site for retailers looking satisfy growing demand for same-day deliveries, Anthony Broccolini says.
A total of 50 office, retail, industrial, apartment and hotel properties changed hands in Ottawa in the second quarter, a 37 per cent drop from 2019.
Toronto developer wants to build three highrises of 23, 29 and 35 storeys with about 930 residential suites on the former site of the Alterna Savings and Credit Union.
E-commerce giant says 450,000-square-foot facility in the Citigate Business Park will create more than 1,000 full-time jobs.