TORONTO – Oxford Properties says it’s aiming to double the size of its industrial portfolio within three years, with much of the growth coming outside of Ontario.
The real estate arm of OMERS already has industrial properties totalling 10 million square feet, including assets in the Toronto area, Calgary and Edmonton.
Oxford expects the portfolio will grow to more than 20 million square feet by 2018, with half through acquisitions and half from developments, including a project in the Vancouver area.
It is set to start building a business park on 26 hectares in Burnaby, B.C., that will add 1.1 million square feet.
Oxford part of the Ontario Municipal Employees Retirement System, which has $53 billion of assets administered on behalf of 400,000 members.