LG Electronics Canada signs nearly one million square-foot lease, in one of Canada’s largest distribution developments

King Jane Business Park, King City, Ontario, where LG Electronics Canada has leased nearly one million square feet. *Rendering for illustrative purposes only. GNW

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Major lease reflects demand for modern, large-format, Zero Carbon Building-Design Certified industrial space in the Greater Toronto Area

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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.

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“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.”

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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.

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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.

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“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.”

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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.