It is very common in most industrial and a good number of commercial applications to have a common bonding conductor either around the exterior of the building or underground and connected to the structure of the building.
Among other things, it allows for the attachment of secondary transformers to be bonded to the system ground without the need to "home run" the bonding conductor to the system ground.
Many installations have a cad weld right to the structure or a crimp connection to the bonding conductor. Split bolts / mechanical connections are not approved.
The only limitation to all of this is as you suggest is the size of the conductor. Most I have seen are 1/0. That is plenty for 90% of applications. If you are installing a transformer that needs more then that, it is likely it's own service and you may only need to bond to the structure and not connect to a separate system ground.
What you want to avoid is the situation where you have two separate system grounds with potential in between them...potentially dangerous unless they are fully isolated from each other.
Cheers
John