- What Crown sold a 17,000 sq ft Vaughan warehouse at the beginning of October
- Why A private buyer paid $529/sq ft
- What next Crown has relocated its operations to a larger site
Crown Equipment Corp. has sold a 17,000 sq ft industrial building in the GTA for $9m, Green Street News can reveal.
A private Ontario numbered company agreed to pay $529/sq ft for the vacant warehouse at 160 Edilcan Drive in the Concord neighbourhood of Vaughan. Colliers brokered the deal, which closed on Oct. 2.
Crown listed the building at the end of 2023 for $9.5m. The New Bremen, Ohio-based forklift manufacturer purchased 160 Edilcan for $3.4m, or $200/sq ft, in 2017. Crown, which has 24 manufacturing sites globally, relocated its operations to a larger site at 50 Locke Street in Concord.
Built in the late 1990s, the property is on a 1.4-acre corner lot at the intersection of Edilcan and Creditstone Road. Recent upgrades include a new trench drain system, wash booth and dock leveler. The building has four cranes on site, each capable of carrying two tons.
There are two shipping doors – one at truck level and another allowing drive-in access. There’s 13,000 sq ft of warehouse space and a 4,000 sq ft office area. The maximum clear height is 18 feet.
The building is 2 km from the on-ramp to Highway 400, connecting to Highway 401 and the Highway 407 tolled route. Toronto Pearson International Airport is 18 km away, while downtown Toronto is 21 km away. The closest bus stop is 500 m away.
