TORONTO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Forager Real Estate Partners, a Toronto-based private equity real estate developer and asset manager (“Forager”), together with Mississauga-based Sherway Group (“Sherway”), is pleased to announce significant progress on their state-of-the-art Class ‘A’ industrial logistics facility in Guelph, Ontario (the “Project”). Ahead of schedule, the Project is now expected to be substantially complete in Q1 2025.
The facility, which will span approximately 170,000 square feet, represents a strategic partnership between Forager and Sherway. Forager serves as the co-owner and development manager of the Project, while Sherway, co-owner of the Project, has committed to leasing 100% of the completed Project upon completion under a long-term fully net lease.
“We are excited to advance this top-tier industrial project with our partners at Sherway,” said Conor McBroom, President of Forager. “This facility is strategically designed to meet sustained market demand for premium warehousing and distribution space, with prime access to the Greater Toronto Area, Southwestern Ontario, the U.S. border, and Ontario's 400-series highways. Sherway's decades of experience as a leading 3PL provider has added tremendous value to design and development, while their impending tenancy ensures the project’s long-term appeal and resilience.”
The new facility will feature a 40-foot clear-height design tailored for modern warehousing and distribution needs, including food-grade storage solutions and 24 dock-high shipping and receiving doors to support the high-velocity flow of goods.
Paul Rockett, CEO of Sherway Group, added, “This project is a significant expansion of our warehousing capabilities, and its strategic location further strengthens our distribution network across Ontario.”
Forager and Sherway look forward to delivering this advanced logistics facility, which aligns with their mutual commitment to fostering growth in strategic markets.
About Sherway Group
Established 45 years ago, Sherway Group is a leading full service, customized logistics and supply chain solutions provider, and one of Canada’s most trusted third-party logistics (3PL) companies. Sherway takes pride in its host of flexible and creative logistics solutions that “drive the wins” for its customers.
www.sherwaygroup.com
About Forager Real Estate Partners
Forager is a private equity real estate developer and asset manager with a nimble and opportunistic investment strategy that targets many facets of the real estate landscape, including value-add and land development projects. Forager’s capital partners include institutional and ultra-high net worth investors, and leading lending institutions, who benefit from Forager’s discipline, operational expertise, deep industry relationships, and unwavering emphasis on alignment.
www.foragerrep.com
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