London – ON (April 23, 2007) ING Real Estate Canada (“ING”) announced today the acquisition of 20.35 acres of land for development on Castleton Road near Highway 401 and Wellington Road in the industrial south end of London, Ontario. ING will construct three new industrial buildings totaling 330,000 square feet of space. Once completed, the new properties will complement ING’s adjacent five acre land parcel where a 100,000 square foot industrial building is currently under development with a scheduled completion date in the fall of 2007.
“London is an important and growing market for us,” commented Kathy Harder, Chief Investment Officer for ING Real Estate Canada. “We currently have over 120 tenants in approximately 430,000 square feet of existing buildings in the region, and this new space will help us meet the growing needs of our clients and attract new tenants to our portfolio. With this acquisition and development project, we are doubling the total industrial space we own in this well-located and vibrant southwestern Ontario market.”
London Ontario is conveniently located on highway 401 and close to highways 403 and 402, major transportation links between the Ontario heartland and the United States. The Castleton Road acquisition will also give ING the ability to undertake pre-leased design-build development projects in a strategic location to meet the needs of the growing manufacturing and distribution industrial base in the region.
“London is an ideal location for manufacturers, warehousing and distribution, and we are now seeing increased interest from the automotive sector due to London’s proximity to many automotive plants in southern Ontario as well as across the border in the U.S,” Ms. Harder continued.
ING Real Estate Canada is grateful for the support and encouragement of the London Economic Development Corporation (LEDC) and assistance from the City of London in this transaction.
John Kime, President and CEO of the LEDC, stated that the continuing investment in real estate and the building of high profile facilities is a clear demonstration of industry’s confidence in the growth and stability of London’s economy.
“We are very pleased to be working with ING Real Estate Canada and appreciate their commitment to the City of London,” Mr. Kime stated.
ING Real Estate Canada has a strong leasing and management team based in London, headed by Dorothy Dewsnap who will be representing ING in lease transactions.
ING Real Estate Canada: ING Real Estate Canada is the exclusive advisory and management company for the ING Summit Industrial Fund which owns over 33 million square feet of industrial space across Canada making it Canada’s largest industrial landlord.
Contact ING Real Estate: Dorothy Dewsnap. (519) 686-1389 or
dorothy.dewsnap@ingrealestate.ca
“London is an important and growing market for us,” commented Kathy Harder, Chief Investment Officer for ING Real Estate Canada. “We currently have over 120 tenants in approximately 430,000 square feet of existing buildings in the region, and this new space will help us meet the growing needs of our clients and attract new tenants to our portfolio. With this acquisition and development project, we are doubling the total industrial space we own in this well-located and vibrant southwestern Ontario market.”
London Ontario is conveniently located on highway 401 and close to highways 403 and 402, major transportation links between the Ontario heartland and the United States. The Castleton Road acquisition will also give ING the ability to undertake pre-leased design-build development projects in a strategic location to meet the needs of the growing manufacturing and distribution industrial base in the region.
“London is an ideal location for manufacturers, warehousing and distribution, and we are now seeing increased interest from the automotive sector due to London’s proximity to many automotive plants in southern Ontario as well as across the border in the U.S,” Ms. Harder continued.
ING Real Estate Canada is grateful for the support and encouragement of the London Economic Development Corporation (LEDC) and assistance from the City of London in this transaction.
John Kime, President and CEO of the LEDC, stated that the continuing investment in real estate and the building of high profile facilities is a clear demonstration of industry’s confidence in the growth and stability of London’s economy.
“We are very pleased to be working with ING Real Estate Canada and appreciate their commitment to the City of London,” Mr. Kime stated.
ING Real Estate Canada has a strong leasing and management team based in London, headed by Dorothy Dewsnap who will be representing ING in lease transactions.
ING Real Estate Canada: ING Real Estate Canada is the exclusive advisory and management company for the ING Summit Industrial Fund which owns over 33 million square feet of industrial space across Canada making it Canada’s largest industrial landlord.
Contact ING Real Estate: Dorothy Dewsnap. (519) 686-1389 or
dorothy.dewsnap@ingrealestate.ca
