- What A warehouse and manufacturing facility in Cambridge, Ont., was sold
- Why A private buyer paid Barco Materials Handling $169/sq ft
- What next Barco has a long-term lease to remain at the property
Wooden pallet maker Barco Materials Handling has sold its Southwestern Ontario manufacturing and warehouse facility for $33.5m, Green Street News can reveal.
A private buyer based in the GTA paid $169/sq ft for the 198,000 sq ft multi-tenanted building at 1367 Industrial Road in Cambridge, Ont., part of Waterloo Region. TD Cornerstone Commercial Realty brokered the deal, and TD Bank provided financing. CBRE represented the buyer.
Barco, which moved into the facility in 2023, agreed to lease back the facility for five years. An electric heating products manufacturer also leases space in the building.
The property, on 10 acres, was pitched as an opportunity to own a fully occupied building secured by tenants on long-term leases with annual rent hikes.
Built in 2001, the building was on the market for at least a year. It has 12 loading docks and four shipping doors with drive-in access, and a maximum clear height of 18 feet. There are approximately 150 available outdoor parking spaces.
The property is within a built-up area by Hespeler Road, a growing industrial node for the tri-cities region, which also includes Kitchener and Waterloo.
The building is less than 2 km from the nearest onramp to Highway 401, 8 km from Region of Waterloo International Airport and 66 km from Toronto Pearson International Airport.
