- What Equitable Bank sold two neighbouring industrial buildings in Niagara Falls
- Why The property is zoned for a range of general industrial uses
- What next The new owner intends to finish renovations that include HVAC upgrades
A group of private investors acquired a pair of multi-tenanted industrial buildings in the Niagara Region for $20.7m, Green Street News can reveal.
Equitable Bank sold the property, known as The Switchyard, at 4256 Carroll Avenue and 5900 Thorold Stone Road in Niagara Falls, on Nov. 1.
The industrial building at 4256 Carroll Avenue was built in 1982 and has 115,000 sq ft of leasable space.
5900 Thorold Stone Road was built in 1993 and has almost 100,000 sq ft of leasable space. It features a clear height of 24 feet, has seven drive-in bays and four exterior dock doors.
The buyers intend to continue with renovations, in particular the heating, ventilation and air conditioning (HVAC) system, as well as updating the roof.
The property is zoned General Industrial, permitting a range of uses including warehouse and cold storage.
The buildings are 7 km away from the U.S. border, 4 km away from Niagara Falls train station, and 2 km from the Queen Elizabeth Way highway connecting Toronto with multiple U.S. border entry points.
