LG Electronics Canada Signs 984,176-Square-Foot Lease at King Jane Business Park in King City, Ontario

LG Electronics Canada has signed a lease for 984,176 square feet across two buildings at King Jane Business Park in King City, Ontario, in what Nicola Wealth describes as its largest leasing transaction to date by square footage. The deal, announced Aug. 24, 2026, positions LG Electronics Canada as the anchor tenant at the 1.7-million-square-foot industrial campus located at 2955 King Road, at the intersection of King Road and Jane Street.

Colliers represented the landlord, Nicola Value Add Real Estate LP, while CBRE represented LG Electronics Canada in the transaction. Base rent, lease duration, and other financial terms were not publicly disclosed.

Deal Structure and Expansion Details

The lease covers Buildings B and C at King Jane Business Park and represents both a relocation and a major expansion for LG Electronics Canada, adding more than 280,000 square feet of net new space to the company's GTA footprint. The new facility is intended to serve as a national distribution hub supporting LG's Canadian distribution and supply chain operations.

Buildings B and C are slated for completion in 2027. Building A, totaling 418,402 square feet, has already completed construction and is available for lease. Two additional buildings of 132,693 and 136,886 square feet, respectively, are planned for a future phase of the development.

"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."

King Jane Business Park: Site and Sustainability Features

King Jane Business Park spans approximately 1.7 million square feet across five buildings. The campus is located approximately one kilometer from the Highway 400 interchange, providing direct access to the broader GTA logistics network and positioning the site within the King City industrial corridor north of Toronto.

Every building at the park is expected to achieve Zero Carbon Building–Design certification under the Canada Green Building Council. Building A has already received that certification. Park-wide specifications include 40-foot clear heights, rooftop solar panels, capacity for heavy power, and efficient loading configurations designed to accommodate large-scale distribution operations.

"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 at Nicola Real Estate. "King Jane was designed to meet the evolving needs of large-scale tenants, combining connectivity, efficiency, and sustainability in a single development."

Nicola Real Estate's Role and Development Strategy

King Jane Business Park is owned by Nicola Value Add Real Estate LP and institutional partners. Nicola Real Estate, the in-house real estate team of Nicola Wealth, led the project from land acquisition through design, rezoning, construction oversight, leasing, and financing. Nicola Wealth manages over $17 billion in assets for high-net-worth individuals, families, and institutions.

Minesh Dave, Vice President of Development at Nicola Real Estate, said the transaction reflects years of relationship-building across multiple stakeholders. "We have been on this project since the beginning, from acquiring the land, building design, securing all entitlements to leasing, and this is a long-term hold for us," Dave said. "A transaction of this size is a testament to relationships built over many years, including with York Region, King City, and our consultants and engineers, and we are grateful to everyone who helped bring it together."

The LG Electronics Canada lease extends a period of active industrial leasing activity for Nicola Real Estate in the GTA. Over the past year, the firm delivered and fully leased three new 40-foot clear-height industrial buildings: Bronte Station Business Park in Oakville, 601 Milner Avenue in Scarborough, and 901 Hopkins Street in Whitby. Those assets are held within the Nicola Canada Real Estate LP fund, separate from the Nicola Value Add Real Estate LP vehicle that owns King Jane.

Market Context

The King Jane transaction comes at a time when large-format, modern industrial space in the GTA remains in limited supply. The deal adds nearly one million square feet of zero-carbon-certified, high-clear-height distribution space to the region's logistics inventory at a location with direct Highway 400 access, reinforcing the GTA's role as a major logistics and distribution hub in North America. The lease is among the most significant industrial transactions in the GTA in recent years by square footage.