BentallGreenOak Big-Box Warehouse Conversion – Toronto

Deal value: $48,000,000

BentallGreenOak acquired and converted a 190,000 SF big-box retail property in Toronto, ON, into a logistics warehouse with 28’ clear height and upgraded loading infrastructure.

The core investment motivation is to capitalize on the surging demand for urban logistics and last-mile distribution space in Toronto, driven by e-commerce growth and supply chain modernization. Converting underutilized big-box retail into high-spec logistics assets reflects a belief that well-located infill properties can be repositioned for higher yields and long-term relevance. The timing is influenced by shifting retail dynamics, scarcity of modern warehouse space, and investor appetite for resilient, future-proof real estate.