70.5 acres in Vaughan leased for state-of-the-art distribution centre
We are pleased to announce, on behalf of our investor, LiUNA Pension Fund of Central and Eastern Canada (LPFCEC), that 70.5 acres of land in Vaughan has been leased to Walmart Canada for a state-of-the-art distribution centre that will set a new industry standard.
In 2014, LPFCEC purchased 96.7 acres in Vaughan with Condor Properties and other co-owners, and this investment is managed by Fengate. As part of the 30-year lease with Walmart, the co-owners will build the 82-foot clear height facility incorporating next-generation technology, with Walmart providing the internal automation systems.
Construction is now underway for the new 550,000 square foot facility located at Jane St. and Teston Road and the centre will be operational in 2024. It will handle the highest volume of any Canadian Walmart facility with over 70 million cases of products from over 3,000 suppliers annually, providing omni-channel capability to supply both the store and e-commerce networks.
The distribution centre is expected to create hundreds of new job opportunities and to stimulate York Region’s economy. 26.2 acres remain on the site for future development with additional tenants.
