The acquisition
In 2009, the company acquired two properties in a packaged transaction: 200 Rose Glen Road in Port Hope and 108 Angeline Street South in Lindsay.
200 Rose Glen Road was a fully occupied, single-tenant commercial property with medical offices. The building itself is 20,653 square feet, plus there 3 acres of vacant land upon which additional buildings could be constructed. We purchased this property for its high future potential, asset type, location and the opportunity for further developing the access land.
The project
Since the purchase, we have made significant improvements to the property to meet our tenants’ requirements and needs. The property is now fully occupied by the Haliburton, Kawartha, Pine Ridge District Health Unit. We are currently planning to build an additional small bay industrial property of 68,000 square feet on the adjacent land.
The result
The value of our Roseline property has already increased significantly since its purchase. We have high expectations for the development of the access land, especially given the high demand for industrial spaces. Most of the existing small bay industrial inventory in the area is outdated and unappealing, which further enhances the potential of development.
