Ajax, Granite REI break ground on 50,000 sq. ft commercial building
Published May 18, 2023 at 2:24 pm
Granite Real Estate Investment Trust and the Town of Ajax broke ground Tuesday on a 50,000 sq. ft. addition on Beck Crescent that accommodate as many as four new commercial tenants.
The scheduled completion of the project is this December.
Granite REIT is a Canadian-based investment company engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. It was originally composed principally of former holdings of Magna International.
The development is being built across the street from a 43,000 sq. ft banquet facility and event space by Sun City Developments that broke ground in late March.
That facility will dwarf the nearby Ajax Convention Centre, which is about 30,000 sq. ft., when it is completed.
There were approvals for an adjacent six-storey, 120-room hotel – originally attached to a Mariott Fairfield property that was scheduled to be built five years ago – but the developer is not ready to move forward on that project.
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