INDUSTRIAL ESTATE
The new centre will mean that Cornwall will be able to offer more and better services to its residents, said Mayor Sylvester.
Direct investment in industrial estate, with a joint venture purchase of five Ontario shopping centres. The Board and Osmington Inc. have purchased the properties, totalling over 2.2 million square feet, for approximately $300 million. A Toronto based firm owned by Osmington Inc., will manage the property. Very excited about the addition of these great centres to our portfolio.
The Cornwall Square was constructed in the downtown core in 1979, and features 252,502 square feet of retail space.
Canada's leading consultancy firms, recognized Team Cornwall in a recent edition of their newsletter "Industrial Estate Trends". In an article titled, "The Local Route to Economic Development", "Cornwall for example, has a highly successful ambassador program. When its local companies attend trade shows they go wearing two promotional hats: one for their own business and one for their community. The resulting credibility is tremendous. Manager of the Industrial Estate Advisory Services Group, concludes that the local business community can be an invaluable partner in reaching economic development goals an objectives.
The new centre will mean that Cornwall will be able to offer more and better services to its residents, said Mayor Sylvester.
Real Estate and Industrial Estate : A key site selection factor that quickly allows a company to shorten its list of property management is the availability of suitable commercial real estate options. Whether a company prefers to lease an existing building or build a brand new commercial properties facility, issues such as the inventory of available buildings, industrial park zoning and costs of land become important factors. Lease rates and sale prices are amongst the lowest in North America.
Other costs, such as taxes, natural gas, insurance, snow removal are average or below average for Ontario, and highly competitive across the continent.
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