Major lease reflects demand for modern, large-format, Zero Carbon Building-Design Certified industrial space in the Greater Toronto Area
King Jane Business Park
Toronto, ON, Aug. 24, 2026 (GLOBE NEWSWIRE) — Nearly one million square feet has been leased to LG Electronics Canada at King Jane Business Park in King City, Ontario, one of Canada’s largest modern distribution developments. The lease covers 984,176 square feet across two buildings and represents Nicola Real Estate’s largest leasing transaction to date by square footage. The project will serve as a major distribution hub supporting LG’s Canadian operations.
“This transaction reflects the quality of the assets we are building and the strength of demand for modern industrial space in the GTA,” said Adam Sherriff-Scott, Vice President, Asset Management and Portfolio Strategy. “King Jane was designed to meet the evolving needs of large-scale tenants, combining connectivity, efficiency, and sustainability in a single development.”
King Jane Business Park spans 1.7 million square feet across five buildings at the crossroads of King Road and Jane Street in King City. Every building is expected to achieve Zero Carbon Building-Design Certification under the Canada Green Building Council. Building A, which has completed construction, has achieved certification. Tenants gain 40-foot clear heights, solar panels on roofs, capacity for heavy power and efficient loading, one kilometer from the Highway 400 interchange and a short drive north of Toronto. The lease represents one of the most significant industrial transactions in the Greater Toronto Area (GTA) in recent years and further reinforces the GTA’s position as a key logistics and distribution hub in North America.
LG has committed to King Jane’s Buildings B and C, totaling 984,176 square feet. The transaction represents both a relocation and a major expansion for LG, adding more than 280,000 square feet of net new space to LG’s GTA footprint. LG brings a strong covenant to the site as the anchor tenant to the park. The new facility will support LG Electronics Canada’s distribution and supply chain operations across Canada, providing nearly one million square feet of modern industrial space designed to accommodate future growth.
“Securing a commitment from a global brand like LG Electronics Canada is a significant milestone for this project and for the region,” said Ron Bastin, Managing Director of Nicola Real Estate. “The scale of this lease speaks to continued demand for modern, well-located industrial space and validates the vision behind King Jane Business Park.”
Behind the project is Nicola Real Estate, which has led the development from sourcing and structuring the acquisition through design, rezoning, construction oversight, leasing, and financing. The project reflects the firm’s integrated approach to real estate development and long-term asset management. Building A is complete and available for lease, being 418,402 square feet, while Buildings B and C, leased to LG, are slated for completion in 2027. Two additional buildings with 132,693 and 136,886 square feet, respectively, are planned for a future phase. The development draws on Nicola Real Estate’s network of partners, including a long-standing leasing relationship with Colliers who represented the Landlord ownership side and CBRE who represented the LG side of the transaction.
“We are very pleased to have LG Electronics Canada at King Jane,” said Minesh Dave, Vice President of Development, Nicola Real Estate. “We have been on this project since the beginning, from acquiring the land, building design, securing all entitlements to leasing, and this is a long-term hold for us. A transaction of this size is a testament to relationships built over many years, including with York Region, King City, and our consultants and engineers, and we are grateful to everyone who helped bring it together.”
The lease extends a strong run for Nicola Real Estate in the Greater Toronto Area. Over the past year, the team has brought online and fully leased three new 40-foot clear-height industrial buildings at Bronte Station Business Park in Oakville, 601 Milner Avenue in Scarborough and 901 Hopkins Street in Whitby, which sit in the firm’s Nicola Canada Real Estate LP fund.
King Jane is owned by Nicola Value Add Real Estate LP and institutional partners. The project forms part of Nicola Real Estate’s strategy of identifying, developing and enhancing properties that create long-term value for investors.
About Nicola Real Estate
Nicola Real Estate (NRE) is the in-house real estate team at Nicola Wealth Management Ltd. (Nicola Wealth), including Nicola Institutional Realty Advisory, which is a wholly owned subsidiary of Nicola Wealth. Nicola Wealth is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required securities commissions.
About Nicola Wealth
Nicola Wealth is one of Canada’s leading independent wealth management firms, managing over $17 billion in assets for high-net-worth individuals, families, and institutions. With advisors across BC, Alberta, and Ontario, the firm provides an institutional-style investment platform offering access to public and private asset classes including real estate, private equity, private debt, and commercial mortgages. For more information, please visit www.nicolawealth.com.
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- King Jane Business Park
CONTACT: Victoria Emslie Nicola Wealth 604-484-1286 [email protected]
