To achieve our goals, we intend to pursue the following growth strategies:
Our internal growth strategy will focus on rental rate optimization, tenant retention and a focused capital expenditure program such that properties remain functional and competitive within their respective geographic markets.
While the industrial sector is the largest commercial real estate asset class in Canada, with over 1.7 billion square feet of space, it remains highly fragmented with a high degree of non-institutional ownership. This creates an opportunity for industry consolidation that should provide us with future acquisition opportunities in major industrial markets.
We intend to acquire a broad range of industrial product types and spaces in different markets to maximize diversification within our portfolio. This will provide our tenants with optimal spatial choices within our portfolio that will, in turn, promote tenant retention.
To complement our acquisition strategy, selective development and expansion opportunities will be undertaken based on tenant demand. These projects will be aimed at improving the overall age and quality of our portfolio, while generating strong returns on investment.