In an exclusive interview, Shindico Realty Inc. Founder and Chairman Sandy Shindleman reflects on the logistics real estate company’s most significant acquisition to date—one that spans nine of Canada’s most active industrial markets but traces its origins back to Portage la Prairie.
“This all started with a Manitoba-based entrepreneur who passed away four or five years ago, Louis Tolaini,” notes Shindleman. “He started in rural Manitoba, I believe it was Virden.”
Shindleman recalls meeting Tolaini during a hearing related to his purchase of Royal Transfer in Portage la Prairie—a company that evolved into TransX, now one of the country’s largest transportation firms.
“They sold to CN Rail, who are operating it as TransX. The head office is still just outside of Winnipeg, in Rosser,” adds Shindleman. “They have very low site coverage because of all the trailer parking. They’re in the cool dock business and move a lot of food.”
With industrial outdoor storage (IOS) rising in popularity, particularly in the United States, Shindico saw an opportunity when a major IOS portfolio came up for acquisition—one that includes prime assets in Toronto, Vancouver, Edmonton, Calgary, Regina, Montreal, Guelph, Mississauga and, of course, Winnipeg.
“We partnered with one of the families that’s in ownership, and we intend to manage it to perfection and have CN Rail as a tenant for the long term.”
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Largest acquisition in Shindico’s 50-year history
While Shindico is already active in cities like Toronto, Montreal, Ottawa and Hamilton in the rental and multi-residential markets, this acquisition marks a major leap in the industrial sector.
“We’re already building industrial in Winnipeg and we want to acquire more of this type of industrial space across the country,” says Shindleman. “We’re excited about the opportunity to do that.”
When asked about the scale of the deal, Shindleman doesn’t hesitate.
“Yes, this is the biggest acquisition we’ve ever done,” he says. “It’s a couple hundred million dollars, so it’s big for us.”
Immediate transition and long-term growth
Shindico closed the deal on June 30 and has already begun managing the assets on behalf of the owners. The goal is to maintain, enhance, and expand on the value of these properties nationwide—an approach deeply connected to Shindico’s Manitoba roots.
“We’ve been managing the assets for a period of time already,” adds Shindleman. “And we’re a Portage la Prairie company. That’s where I met Louis Tolaini. So it all comes back to Portage.”
Growing head office space and staff
Shindico’s Winnipeg head office is expanding to accommodate growing operations, with renovations underway to create additional space on the main floor.
“We’re always growing,” says Shindleman. “We’re taking additional space on the main floor of our building. It’ll be completed in about 60 days, and we’ll move our construction services and part of our management down there.”
As the company celebrates its 50th anniversary, the acquisition and expansion align perfectly with its legacy and future ambitions.
“Not only did it start in Portage la Prairie—we still consider Portage home,” continues Shindleman.
Community pride and lasting commitment
Shindleman takes great pride in sharing his company’s journey with those around him.
“I personally bring people into our town—friends, family—and show them: ‘See that Shindico sign? That all started right here.’ And it’s a big business now.”
“It’s important to us.”
TransX IOS portfolio offers unmatched flexibility
The acquisition includes 211 acres of rentable yard space and over 372,000 square feet of leasable buildings across nine sites. The average site coverage across the portfolio is less than 5 per cent, giving tenants exceptional operational freedom.
In the Greater Toronto Area, Shindico acquired 62 acres and 91,000 square feet of rentable space. In Vancouver, the portfolio adds 13 acres and over 22,000 square feet near West Coast trade routes. Eight of the nine sites are Class A cross-dock facilities with temperature-controlled docks, making them ideal for food and cold-chain logistics.
TransX tenants include key players in transportation, construction, infrastructure, and energy. The company also serves large-scale food producers, handling 65 per cent of Canada’s refrigerated protein, and was recently honoured by The Hershey Company with its 2023 Hershey Carrier Award.
“These properties provide the kind of operational flexibility that is in high demand and short supply,” adds Shindleman in the official press release. “They strengthen our national industrial footprint and align with our long-term strategy to own and manage irreplaceable logistics real estate.”
The TransX sites are designed to support the unique demands of industrial logistics operations. With zoning and land-use constraints limiting new supply, such well-located IOS assets are seen as increasingly valuable.
“Shindico is proud to play a role in continuing the legacy of these exceptional properties,” Shindleman continues. “We look forward to owning and managing the portfolio for decades to come.”
Portage Roots
Founded in 1975, Shindico Realty Inc. is celebrating its 50th year in 2025. Based in Winnipeg, the company is one of Manitoba’s largest privately owned real estate firms. Its holdings include shopping centres, industrial parks, office buildings, apartments, and mixed-use developments. Shindico operates on the guiding principle of “Succeeding by Helping Others Succeed.”
Portage la Prairie MLA and Opposition Deputy Leader Jeff Bereza sent his congratulations to the Shindleman brothers:
Sandy/Robert,CONGRATULATIONS on this newest acquision. I keep saying over and over wow, wow, wow.
I have been at the Ledge all day today, and haven’t had a chance to check my email. I am so proud watching what comes next from Shindico. You have picked up some of the BEST commercial land in not just Canada, but in North America. You have also acquired a logistic company that will service from coast to coast to coast.
After seeing you guys at the 50th anniversary of Shindico, and seeing all those young people working with Shindico, and seeing their care for the company your motto is one we all need to adopt. Succeeding by Helping Others Succeed.
Jeff Bereza
Manitoba Opposition Leader Obby Khan sent his congratulations as well.