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HAVEN Developments Launches Aurora Mills Business Park in Aurora, Ontario

Bailey Webb • 6/1/2022

HAVEN to Deliver 392,000-SF. Premium Industrial Condo Project in Aurora, Ontario, Amidst Record Low Industrial Vacancy in the GTA.  

TORONTO, June 1, 2022 – HAVEN Developments with its financial partner, Windsor Private Capital, has broken ground on Aurora Mills Business Park, which will offer more than 392,000 square feet (sf) of premium industrial condo product for sale over seven buildings. The Toronto-based developer has selected Cushman & Wakefield’s Mike Brown and Pete McGoey to market the property.  

AMills RenderingLocated on 25 acres at the northeast corner of St John’s Sideroad and Leslie Street, Aurora Mills Business Park offers 25-foot clear heights, drive-in shipping and modern, high-quality construction and design. The first phase is underway, with a 90,000 sf building divided into 25 industrial condo units that are presently 80% subscribed. This top-tier industrial complex has unit sizes from 3,582 square feet and up, which can be combined to accommodate larger buyer requirements.  

“Aurora Mills Business Park will appeal to small- and medium-sized business owners and entrepreneurs, especially in the trades, construction and manufacturing sectors, who may be dealing with sticker shock due to rapidly escalating rental rates for GTA industrial product,” said Paolo Abate, CEO of HAVEN Developments. “It offers small-bay occupancy, which, like all industrial property in the GTA, is in extremely high demand. This is also a great opportunity to build equity while hedging inflation through ownership. Local demand from industrial tenants also makes Aurora Mills Business Park an intriguing opportunity for investors who want to be part of one of North America’s top industrial markets.” 

With Toronto’s historically strong industrial demand, many developers are building big-box product to attract e-commerce and distribution requirements of 100,000 sf and up, but small bay development catering to smaller users is a segment of the industrial market that is extremely under supplied.  

“Industrial condo developers like HAVEN are satisfying a need for small-bay users and private owners,” Brown said. “Right now, it’s one of the few avenues to obtaining industrial space under 10,000 sf. Small tenants are being hit with massive rental increases as their leases come up for renewal. Owning your space gives you certainty of costs over the coming years. With its overall quality of design and construction, desirable location and area amenities, not to mention the many advantages of ownership, Aurora Mills Business Park is the perfect way to own your future.”  

About HAVEN Developments 
At HAVEN, we build properties that enhance life by connecting you to the city you love. Being connected is something we achieve in close proximity to transit, nature and amenities. With the strategic use of our core philosophies, we are able to create commercial environments that complement, add value to, and enrich the lives of business owners. As shareholders in all of our developments, we are genuinely committed to the success and quality of each project we build. Through our involvement in every aspect of a project, we maintain the highest standards of quality control.  

About Windsor Private Capital 
Since 1992, Windsor has provided structured credit, bridge financing and equity solutions to emerging and middle-market companies, as well as entrepreneurs and high net-worth individuals. Windsor has a breadth of experience in a wide range of industry sectors including real estate, financial services, technology, telecommunications, manufacturing, and retail. Windsor provides institutional and private investors, as well as investment managers, access to the attractive alternatives market segment through proprietary funds, off-market joint ventures and expert asset management. 

About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

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