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First Gulf partners with Nicola Wealth Real Estate on land purchase in Whitby

Image of First Gulf partners with Nicola Wealth Real Estate on land purchase in Whitby

First Gulf has once again partnered with Nicola Wealth Real Estate (NWRE) to acquire a 48-acre industrial development property in north Whitby.


Situated on Ashburn Road, south of Brooklin, and close to highways 407 and 412, the site can accommodate up to 820,000 square feet of industrial space. Servicing will be complete in 2022 and First Gulf is already fielding calls from interested parties.


“Quality available inventory in the industrial market continues to be a problem in Durham Region and throughout the GTA,” said David Carreiro, President of First Gulf. “This is another example of First Gulf leaving no stone unturned in our pursuit of available land opportunities to try to meet that demand. We are delighted to once again partner with Nicola Wealth Real Estate and are excited to soon be bringing industrial tenants to a rapidly-growing area in Whitby.”


NWRE, who continue to focus on acquiring income-producing properties and value-add opportunities in major markets across North America, has collaborated with First Gulf on six projects in the GTA recently totalling over 2.5 million square feet.


For more information on the development of this project of First Gulf’s services, please contact Executive Vice President Brian Harrison at bharrison@firstgulf.com or 416-773-7095.

About First Gulf
First Gulf is an award-winning leader in the development of office, industrial, mixed-use and retail properties with developed assets of over $4 billion completed since the company’s inception in 1987. First Gulf is a fully integrated development company and is involved in all aspects of real estate development, from land acquisition and planning approvals to design-build, construction, leasing, financing and property management. To date, First Gulf has developed and constructed over 30 million sf of office, retail, and industrial real estate. First Gulf is part of the Great Gulf Group, one of North America’s premier real estate organizations. Established in 1975, with major projects in Canada and the United States, the Group’s fully-integrated activities span the entire real estate spectrum.


About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $11 billion (CAD) of assets under management. NWRE has an experienced and innovative team that sources and asset manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current real estate portfolio exceeds $6 billion gross asset value.


Media Contact
Andy Gibb