Summary: Media and other sources reported that Microsoft has acquired a retail property and plot of land in the greater Toronto area. The plot of land is the most interesting development here as it is likely to be used for a greenfield data centre development, while the retail property is a possibility for office space. The land parcel is in Vaughn, Ontario, north of Toronto at 6100 Langstaff Road. Vaughn is also where the primary Digital Realty data centre is. This is said to be a 28.2-acre vacant site and was purchased for $95.7m or $3.4m per acre. Microsoft uses colocation exclusively in Toronto and is consuming capacity at a very high rate, with multiple locations across the GTA. This would be a possible, if not likely, first self-build. Self-builds have been a new development in the Canadian market (AWS completed one recently in Montreal), but its arrival speaks to the scale the market is accumulating. The recent STACK INFRASTRUCTURE site acquisition of a site in Scarborough – in a diverse location – are two new adds to the build pipeline that validate overall demand projections. We have a detailed look at the Toronto market in our latest report. Please inquire if you are interested.
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