Granite sells Toronto data center to unknown buyer for CA$16.5M

Granite Real Estate Investment Trust has sold 20 Pullman Court, a Scarborough building eStruxture runs as the TOR-4 data center, for CA$16.5 million (US$11.89 million). Data Center Dynamics reported the sale, citing ConnectCRE, and said the deal closed last month. The buyer has not been identified, and the property has been removed from Granite's website.

The 41,200-square-foot, single-story building was built in the late 1990s as an industrial facility and has been a data center since 2009. eStruxture's TOR-4 is a Tier II site with 10 megawatts of capacity across 16,000 square feet of white space, sitting on four acres.

The operation has been through the wringer of Canadian colocation consolidation. Peer 1 once ran the facility. Cogeco bought Peer 1 in 2013 and sold the business to Digital Colony in 2019, after which it was rebranded Aptum. In April 2021, eStruxture picked up Aptum's Canadian data center portfolio, including this site. Aptum, now a managed services provider, still works out of the building and calls it Toronto East.

Granite is not a data center owner. The trust, spun out of Magna International in 2003 and listed on the TSX, holds 145 investment properties totaling about 61.5 million square feet of leasable space across North America and Europe. Its focus is industrial, warehouse, and logistics assets. A single tenanted data center in Scarborough does not fit that profile, which may explain the sale.

The price comes to roughly CA$1.65 million per megawatt. That is a useful number for the colocation market because the facility is operational: power is in place, the rack space is built out, and eStruxture occupies it. A greenfield project would carry far higher costs; the CA$16.5 million price tags what already exists.

The Tier II rating is modest by modern standards, which likely weighs on the price. The facility also sits in Scarborough, outside Toronto's primary downtown interconnection points. For a buyer looking for powered space with a tenant in place, that is the point.

eStruxture, founded in 2017 with backing from CDPQ and acquired by Fengate Asset Management in 2024, says it is the only Canadian-owned and operated data center platform. It operates 16 data centers across Toronto, Calgary, Montreal, and Vancouver, with more than 760,000 square feet and 130 megawatts of power. Selling the land under one of those facilities does not change that count; eStruxture operates the building, it never owned it.

What the sale does not say matters beyond the headline. The coverage does not name the buyer or disclose eStruxture's lease terms. Those details, when they come, will reveal whether this is an investment hold or a prelude to redevelopment. For now, the disclosed number stands: CA$16.5 million for a tenanted 10-megawatt data center in Scarborough.