In 2022, Harlo and its partners purchased this 449,434-sf portfolio of industrial assets is situated in the strategic logistics node of Cornwall, Ontario. Large retailers and distributors favour this location for its ability to service eastern Canada, including the Ottawa valley, Quebec, and the Atlantic provinces, while being connected to the GTA’s industrial gravity via Highway 401. These buildings benefit from direct access to Highway 401, 2 km northwest along Boundary Road, as well as the Canadian/United States border crossing in downtown Cornwall 8 km away. We executed our business plan to reposition the asset and by negotiating market rents with its historic, stable tenant mix and by attracting new tenants with strong covenants to the portfolio.
Amid challenging market conditions we achieved a 14.15% IRR and 1.51x Equity Multiple in July 2025.
