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Canadian Tire withdraws from its massive warehouse complex in Brampton

Pabio November 16, 2024

Canadian Tire withdraws from its massive warehouse complex in Brampton

Canadian Tire is leaving its 1.5 million square foot warehouse and distribution center in Brampton.

The company announced today (November 15) that it had sold the site for $258 million to an unnamed buyer through a competitive bidding process.

Located at Steeles Avenue and Bramalea Road, the 93-acre site has a strong presence in Brampton and has provided employment to the community for over half a century.

“Fifty years ago, this site was the first of its kind in Canada and a fundamental part of our supply chain,” said Greg Hicks, president and CEO of Canadian Tire, in Friday morning’s announcement. . “In the same spirit, we have invested and evolved, introducing modern and sophisticated facilities to the region, which are essential to our supply chain of the future. »

The company says the distribution center is no longer needed and will operate from newer, more modern and more automated facilities in the Greater Toronto Area.

It is unclear how this will affect jobs at the site or if workers will be transferred to other facilities.

“Our need for the site has diminished significantly in recent years,” Hicks continued. “This transaction provides a clear example of our ability to generate shareholder value from excess real estate assets. »

When it opened, the distribution center was the largest of its kind in Canada and one of the first to be computerized in sorting and collecting inventory.