Dream Industrial Real Estate Investment Trust (REIT) has expanded its portfolio by acquiring a 32-acre site at 2000 Williams Parkway in Brampton, Ontario, from automotive giant Stellantis for $80 million. This transaction, facilitated by Avison Young, involves a portion of Stellantis’ 269-acre assembly plant, which is undergoing retooling to accommodate new automotive productions. Dream Industrial plans to develop a 680,000-square-foot logistics facility on the acquired land, with construction expected to commence in 2026. The site offers strategic advantages, including proximity to major highways, Toronto Pearson Airport, and intermodal rail terminals, making it a prime location for industrial development.
Stellantis’ decision to sell this parcel aligns with its broader strategy to optimize operations and focus on core manufacturing activities. The Brampton assembly plant, originally constructed in 1986, has been a significant contributor to the local economy, providing approximately 3,000 manufacturing jobs. The sale of the excess land is part of Stellantis’ efforts to streamline its property holdings while supporting the region’s industrial growth.
This acquisition underscores the growing demand for well-positioned industrial land in the Greater Toronto Area (GTA). The site’s location in a region renowned for its skilled workforce and robust industrial base enhances its appeal for logistics and warehousing purposes. Dream Industrial’s investment reflects confidence in the area’s economic prospects and the strategic value of the property.
The collaboration between Dream Industrial, Stellantis, and the City of Brampton highlights a concerted effort to repurpose surplus industrial land for developments that align with regional economic objectives. As the project progresses, it is poised to contribute significantly to the local economy by attracting businesses and creating employment opportunities in the logistics and manufacturing sectors.