HOOPP Scores Big Land Deal
It’s been awhile since we’ve seen an industrial land deal the size of the Colliers-brokered transaction that just closed in Caledon. (Chances are the last time it happened you had a haircut that's is now embarrassing.)
The 190-acre parcel of land is located on Coleraine Drive in Caledon, just south of the proposed new Canadian Tire distribution centre. (We aren't hoping any of you get a flat tire, but if you did, that would be the area to do it.) HOOPP partnered with Triovest in the $48M transaction. The deal was brokered by Colliers' Colin Alves (image) and Graham Meader, and the seller was Solmar Development Corp. Colin tells us how difficult it is to secure large tracks of development land in the GTA, factoring in things like the Greenbelt and the proposed Hwy 413 land freeze.
“It’s another example of HOOPP being active and the continued growth of its industrial portfolio,” he says. This particular parcel is located in a strategic site—next to an emerging business park, with proximity to the CP Intermodal and the future Hwy 427 extension. “As a result there were multiple buyers circling the property,” Colin says. In the image is one of the buildings in HOOPP’s AeroCentre complex in Mississauga.
