GraceKennedy Limited (GKL) has announced the expansion of its real estate portfolio with the purchase of several properties along Harbour Street in downtown Kingston.

The properties include the ICD Group’s head office, the parking lot beside the ice factory, Advantage Communications BPO Centre, Water Lane car park, and the Grace and Staff Community Development Foundation’s STEM Centre.

Don Wehby, CEO of the GraceKennedy Group, shared that the move reaffirms the company’s commitment to the revitalisation of downtown Kingston.

“We believe in the immense potential of downtown Kingston to re-emerge as a thriving hub of commerce, culture, and community. Through the revitalisation of these landmark properties, we aim to not only generate value for GraceKennedy but also enhance our longstanding contribution to the social and economic well-being of the entire area. We are actively shaping a brighter future for downtown, together with its residents and other businesses,” said Wehby.

The purchase of the properties is expected to generate immediate income through existing leases with the ICD Group, which will continue as tenants.

The multinational conglomerate also shared that the properties offer the potential for the development of GraceKennedy’s companies with locations in downtown Kingston.

“We especially look forward to expanding our community involvement and engagement activities at the adjacent Breezy Castle lands, which will now be under our management, and which formed part of the transaction. We are looking forward to making the most of this exciting opportunity for the benefit of all stakeholders,” Wehby added.