LG Electronics Canada has signed a lease for 984,176 square feet at King Jane Business Park in King City, Ontario. The transaction marks Nicola Real Estate’s largest leasing deal by square footage and establishes a major distribution hub for the electronics firm.

The lease covers Buildings B and C of the development. It represents both a relocation and a significant expansion for LG, adding more than 280,000 square feet of net new space to its Greater Toronto Area (GTA) footprint. The facility will support LG Electronics Canada’s distribution and supply chain operations across the country.

What the Numbers Show

The scale of the commitment highlights the strategic importance of the GTA as a logistics hub. By securing nearly one million square feet in a single transaction, LG anchors the park with a strong covenant. This move expands LG’s existing presence substantially, indicating a long-term operational bet on the region’s connectivity and infrastructure.

Project Details

King Jane Business Park spans 1.7 million square feet across five buildings located at the crossroads of King Road and Jane Street. The site is one kilometer from the Highway 400 interchange. Every building is expected to achieve Zero Carbon Building-Design Certification under the Canada Green Building Council. Building A, which is complete, has already achieved this certification.

Tenants benefit from 40-foot clear heights, solar panels on roofs, capacity for heavy power, and efficient loading docks. Buildings B and C, leased to LG, are slated for completion in 2027. Two additional buildings, measuring 132,693 and 136,886 square feet respectively, are planned for a future phase.

Development Context

Nicola Real Estate led the development from acquisition through financing. Colliers represented the landlord ownership side, while CBRE represented LG in the transaction. Nicola Value Add Real Estate LP and institutional partners own King Jane.

This deal extends Nicola Real Estate’s recent activity in the GTA. Over the past year, the firm brought online and fully leased three new industrial buildings at Bronte Station Business Park in Oakville, 601 Milner Avenue in Scarborough, and 901 Hopkins Street in Whitby.

LG Electronics shareholders approved all five business resolutions at its 29th annual general meeting on August 21, 2026. The virtual meeting concluded with formal ratification of the FY26 financials and key management appointments.

The consolidated scrutinizer’s report, dated August 24, 2026, confirmed that all items passed with the requisite majority through remote e-voting and e-voting during the session.

Key Resolutions Passed

Shareholders voted to adopt several ordinary and special business resolutions during the proceedings. The approved items included:

• Adoption of the audited financial statements for FY26 along with the Board and Auditors’ reports
• Reappointment of Mr. Hong Ju Jeon as a director upon retirement by rotation
• Appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP as Statutory Auditors
• Ratification of the Cost Auditor’s remuneration
• Appointment of M/s Dhananjay Shukla & Associates as Secretarial Auditors

Voting Results

The promoter group voted in favor of all resolutions. Among public non-institutional shareholders, dissent was minimal across most agenda items, except for the director reappointment.

Management Presence

Mr. Daehyun Song, Chairperson of the Board, presided over the meeting. Other senior management personnel present included Mr. Hong Ju Jeon, Managing Director, and Mr. Dongmyung Seo, Whole Time Director and Chief Financial Officer.

Independent directors present were Mr. Santosh Kumar Mohanty, Ms. Promila Bhardwaj, and Mr. Ramesh Ramachandran Nair. Senior management representatives Mr. Sanjay Chitkara and Mr. Atul Khanna also attended to brief members on business performance.

Audit and Compliance

The Company Secretary confirmed that the Statutory Auditors’ Report and Secretarial Auditor’s Report contained no qualifications or adverse remarks. M/s. Price Waterhouse Chartered Accountants LLP served as Statutory Auditors for the period under review.

Remote e-voting was facilitated via NSDL from August 18 to August 20, 2026. Voting remained open during the meeting and for 30 minutes post-conclusion. The consolidated Scrutinizer’s Report will be filed with stock exchanges within stipulated timelines.