Construction Supplier Buys Facility in the Vaughn Industrial Park

Construction Supplier Buys Facility in the Vaughn Industrial Park

Oxford Properties Group Sold Building on Royal Group Crescent to Newmar Alpa Lumber Group for $81.5 Million

Alpa Lumber Group, one of the largest suppliers and manufacturers of construction products distributed across Canada and within the United States, accomplished a rare feat by acquiring a 281,265-square-foot industrial building in Oxford Properties’ Vaughan Industrial Park for $81.5 million in an off-market transaction.

Oxford rarely parts with properties in the industrial park, according to local brokers. The building at 81 Royal Group Crescent is located in Concord, north of Toronto. The sale was arranged by Lennard Commercial Realty broker Jonathan Gorenstein, MBA, SIOR, and reported earlier by Real Estate News Exchange.

The property, which occupies a 10-acre parcel and was built in the late 1990s, is currently tenanted by automotive supplier Martinrea, with five years remaining on its lease. A previous furniture supplier tenant went out of business and vacated the property earlier this year.

The Vaughan Industrial Park encompasses 3 million square feet situated around the Royal Group Crescent, and is owned and managed by Oxford.

Source CoStar. Click here to read a full story

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