New partnership between Fiera Real Estate Development Fund IV and Berkshire Axis Development
Fiera Real Estate Development Fund IV has just closed on a new project with Berkshire Axis Development focused on the development of industrial condominiums.
The acquisition of the 19 acres of developable industrial lands in Brampton, Ontario was closed on July 4th and will offer the potential of approximately 350,000 square feet of needed industrial space. The future development project will be located in a prime location, close to a new industrial corridor that has been created in recent years, as well as proximity to all major 400-series Highways. The site is only 20 minutes from Pearson International Airport and CN Rail Yard, and less than a kilometer from Fiera Real Estate’s Heart Lake Business Park project.
This represents the tenth partnership between Fiera Real Estate and Berkshire Axis Development, through four different Fiera funds, totaling over two million square feet of industrial space in the Greater Toronto Area.
“Continuing to address the low vacancy industrial market in the GTA West is strategic and much-needed, also allowing us to continue to build on the strength of our partnership”, declared Kathy Black, Senior Vice President, Development, Core and Opportunistic Strategies.