First Industrial Realty Trust, Inc. has acquired 61 acres of land for future development in the Toronto market. The parcel is located in the emerging Highway 427 Corridor in Vaughan, Ontario, one mile south of the Greenbelt, which circles the Greater Toronto Area.
First Industrial purchased the land as a future development site to accommodate demand for build-to-suit and speculative distribution centers or other industrial facilities.
First Industrial’s Toronto office was opened in May 2007 and First Industrial currently owns and manages one million square feet of industrial space in this market. In total, First Industrial owns, manages, and has under development more than 100 million square feet of industrial space across more than 30 markets in the United States, Canada, The Netherlands and Belgium.