LG Electronics Canada Signs 984,176-Square-Foot Lease at Nicola Real Estate's King Jane Business Park in Greater Toronto Area

LG Electronics Canada has signed a 984,176-square-foot industrial lease across two buildings at King Jane Business Park in King City, Ontario, in what Nicola Real Estate has described as its largest leasing transaction by square footage to date.

The lease covers Buildings B and C at the 1.7-million-square-foot campus located at 2955 King Road, at the intersection of King Road and Jane Street, one block from Highway 400. Completion of the leased space is slated for 2027. The deal positions King Jane Business Park as a major Canadian distribution hub for LG Electronics Canada.

Deal Scale and Building Specifications

The two buildings LG Electronics Canada is occupying represent the bulk of the park's largest structures. Building B spans approximately 419,861 square feet and features 55 truck-level doors, two drive-in doors, and 40 trailer parking spaces. Building C, the campus's largest structure, totals approximately 560,895 square feet and includes 110 truck-level doors, four drive-in doors, and 75 trailer parking spaces. Both buildings offer 40-foot clear heights.

Across the full five-building campus, King Jane Business Park encompasses roughly 86.67 acres and provides a combined 267 truck-level doors, 12 drive-in doors, and at least 155 trailer parking spaces. The remaining buildings — Building A at approximately 418,402 square feet, and Buildings D1 and D2 at roughly 132,693 and 136,886 square feet respectively — round out the 1.7-million-square-foot development.

At 984,176 square feet, the LG Electronics Canada commitment represents a lease size that significantly exceeds the average industrial listing in the broader Richmond Hill, Vaughan, and King industrial market, where the average listed industrial space runs approximately 43,855 square feet and the largest available listing reaches roughly 509,951 square feet.

Zero Carbon Building–Design Standard

King Jane Business Park is designed to meet the Zero Carbon Building – Design Standard, making it the largest such industrial development in the Greater Toronto Area. The campus is designed to eliminate fossil fuel use and maximize energy efficiency, aligning with the Canada Green Building Council's certification framework.

Nicola Real Estate, the real estate platform of Nicola Wealth, developed King Jane Business Park alongside two institutional partners. The firm has previously pursued zero-carbon and net-zero building strategies across asset classes, including certification of what has been described as Canada's first net-zero self-storage building by the Canada Green Building Council in December 2023.

The Zero Carbon Building – Design certification at King Jane reflects growing demand among large-format industrial tenants for sustainable distribution infrastructure, particularly as corporate ESG reporting requirements expand.

Location and Logistics Advantages

King Jane Business Park sits in the northern Greater Toronto Area's King City submarket, within the broader Vaughan industrial node. Its location one block from Highway 400 provides direct regional highway connectivity to Toronto, Pearson International Airport, and the broader 400-series highway network.

The park's functional specifications — 40-foot clear heights, high dock door counts, and substantial trailer parking — are designed to support high-throughput national distribution operations.

The scarcity of nearly one-million-square-foot modern distribution options in the Greater Toronto Area underscores the significance of the transaction. King Jane Business Park was designed with flexible unit sizes ranging from approximately 132,000 to 560,660 square feet, targeting large-format users in a market where such options remain limited.

Market Context

The LG Electronics Canada lease at King Jane Business Park reflects continued demand for large-format, modern industrial space in the Greater Toronto Area, where development of zero-carbon-certified logistics campuses of this scale remains uncommon. The transaction represents Nicola Real Estate's largest leasing deal by square footage, anchoring a campus that, at 1.7 million square feet across five buildings, ranks among the GTA's most significant industrial developments.

Nicola Wealth, the Vancouver-based firm behind Nicola Real Estate, developed King Jane Business Park alongside two institutional partners. Buildings B and C are slated for completion in 2027, with Building A reported as available for tenant fixturing. Buildings D1 and D2 add additional smaller-bay capacity to the park's overall offering.