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TORONTO, Dec. 8, 2020 /CNW/ - Manulife Investment
Management Private Markets announces the completed development of
Amazon's newest fulfillment center in Scarborough, Ontario. The one million square
foot industrial distribution facility is Amazon's ninth building in
the Greater Toronto Area, located
on Manulife's 52-acre land at Steeles Avenue East and Tapscott
Road.
As owner and landlord of the property, Manulife Investment
Management took the lead in preparing the land and executing
improvements consisting of the building, parking lots, as well as
on-site and off-site infrastructure. In turn, Manulife Investment
Management united with Broccolini, a family-owned, single source
provider of construction, development and real estate services, to
design and construct the site and its facilities. "The
collaborative relationship between Broccolini and Manulife
facilitated the construction and delivery of this cutting-edge
facility on schedule and within budget," said Delis Lus,
Broccolini's VP, Real Estate Development.
"We are pleased to welcome Amazon in to their newest fulfillment
centre in Scarborough and would
like thank both Amazon and Broccolini for their collaboration which
has resulted in the development of this state-of-the-art industrial
facility," said Gregory Sweeney,
Manulife Investment Management's Head of Canadian Real Estate
Investments. "Manulife remains committed to our industrial
build-to-core program as a means to grow our industrial portfolio.
The industrial sector has been exceptionally resilient and, in many
ways, demand for industrial product and space has accelerated for
investors and tenants alike."
The building is Amazon's ninth fulfillment center in
Ontario, alongside its two
Toronto tech hub locations.
The facility, intended to pick, pack and ship small items, recently
opened for operations creating more than 700 new opportunities of
employment, on top of currently employing 5,000 employees across
the province.
Manulife Investment Management's comprehensive private markets
capabilities include real estate, private equity and credit,
infrastructure, timber and agriculture. Through
its real estate group, Manulife Investment
Management develops and manages commercial real estate for
thousands of customers around the globe.
As of September 30, 2020, the real estate portfolio
totals over 63 million square feet of office,
industrial, and retail space and over 6,000 multifamily units
strategically located in markets across Canada, the U.S., and Asia. The group leverages its global platform
and local expertise to provide market-leading solutions for its
tenants and deliver results for its partners.
Additional information about our Real Estate group can be found
at www.manulifeim.com/realestate.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw
on more than a century of financial stewardship and the full
resources of our parent company to serve individuals, institutions,
and retirement plan members worldwide. Headquartered in
Toronto, our leading capabilities
in public and private markets are strengthened by an investment
footprint that spans 17 countries and territories. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to
investing responsibly across our businesses. We develop innovative
global frameworks for sustainable investing, collaboratively engage
with companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better
retirement.
As of September 30, 2020, Manulife
Investment Management had CAD$923
billion (US$692 billion) in
assets under management and administration. Not all offerings
are available in all jurisdictions. For additional
information, please visit manulifeim.com.
SOURCE Manulife Investment Management