Michelin Acquires Distribution Centre from Broccolini
December 20, 2024Cornwall Ontario – Michelin has acquired a 984,000 square foot state-of-the-art distribution facility from Broccolini. The complex, which is comprised of two buildings, sits on a 67 acre site in the Cornwall Business Park. The sale price was $246 million.
Broccolini purchased 80 acres from the City of Cornwall in Cornwall Business Park in June 2022. Construction began in August 2023 and was completed in October 2024.
“We had a pretty strong conviction in being able to invest in that market on the basis of it representing a logistical hub in eastern Canada to service both Ontario as well as Quebec,” said Broccolini Vice President, Acquisitions and Investments, Toni Wodzicki in an interview earlier this week with the Real Estate News Exchange.
The building was purposely built for Michelin, who took ownership of the building earlier this month. The site is operational and is considered the flagship distribution centre in Canada for the world’s second largest tire company. Ryder has partnered with Michelin to operate the site.
Broccolini retains ownership of an adjacent 17 acre site and has an additional 50 acres under contract in the Cornwall Business Park.
“The City of Cornwall would like to congratulate Broccolini on yet another successful project in the Cornwall Business Park,” said Mayor Justin Towndale. “This state-of-the-art facility further solidifies Cornwall as a major distribution hub in Canada. We look forward to continuing to work with Broccolini on other development lands in the city.”
About the Cornwall Business Park
The Michelin Distribution Centre is located in the Cornwall Business Park, which is located in the eastern part of the city, immediately adjacent to Highway 401. At well over 1600 acres, the Business Park is home to some of Canada’s largest distribution centres, award-winning manufacturers and some great transportation companies.
About Broccolini
Montreal-based Broccolini is a family-owned, single-source provider of construction, investment, development, real estate, and property management services, catering to the industrial, commercial, institutional and residential markets in Quebec and Ontario. The 74-year-old company has developed and built several of Canada’s largest distribution centres in Ontario and Quebec.
About Michelin North America
Dedicated to enhancing its clients’ mobility and sustainability, Michelin designs and distributes the most suitable tires, services and solutions for its customers’ needs. In Canada, Michelin employs approximately 4,000 people across Canada in manufacturing, distribution centres, field support, and sales positions.
The Michelin Cornwall Distribution Centre and dozens of other businesses were profiled in the 2024 Year in Review report from Cornwall Economic Development. To see the presentation, please follow this link: