If you are an investor focused on the Greater Toronto Area Industrial Market, or an occupier looking for a building, then you may not have many options to consider.
As a matter of fact, depending on the type of building, sub-market or building size, you may not have any options available to you.
This is when you need to resort to one of the strategies that smart and proactive investors and occupiers are using.
Today we’ll cover the first of two main strategies – Complete Redevelopment.
COMPLETE REDEVELOPMENT
TORONTO EAST – INVESTOR PROJECT – UNDER CONSTRUCTION, AVAILABLE FOR LEASE
- Canadian-based REIT purchased a 150,000 SF industrial facility on 14.8 acres of land in 2017. The old building was demolished and a brand new, 295,000 SF modern distribution center is now under construction with an estimated delivery date in Q2 2019.
TORONTO CENTRAL / HWY 400 CORRIDOR – INVESTOR PROJECT – UNDER CONSTRUCTION, LEASED
- In 1958, the Timothy Eaton Company developed 41 acres of industrial land located just west of Hwy 400 on the south side of Sheppard Avenue. A 1.1 million SF industrial warehouse building with 18-foot clearance was constructed. At the peak of their business, Eaton’s warehouse had about 3,000 employees. In 2000, the company closed their operations. Most recently, Home Depot used the entire building as a warehouse and distribution center. In 2018, a Canadian-based pension fund demolished the old structure. A brand new, modern distribution center of about 1.1 million SF across three buildings is currently under construction and is already fully leased.
TORONTO CENTRAL / HWY 400 CORRIDOR – USER PROJECT – UNDER CONSTRUCTION
- For many years, Maple Leaf Foods has been operating a food processing facility on this site of 100,000 SF on 4.16 acres. In late 2016, the property was sold to a local user who demolished the existing structure. They will soon commence with the construction of a 100,000 SF building to house their office and manufacturing operations.
TORONTO CENTRAL / HWY 400 CORRIDOR – USER PROJECT – COMPLETED
- A local food manufacturing company purchased an old obsolete multi-story flex office building of 177,000 SF on 6.98 acres. The existing facility was demolished and a brand new, 172,000 SF industrial building was constructed.
In our next and final part, we’ll cover the second most-used strategy investors and occupiers are using to create opportunities in Toronto’s extremely tight market.
Goran Brelih and his team have been servicing Investors and Occupiers of Industrial properties in Toronto Central and Toronto North markets for the past 25 years.
For more information on GTA Industrial Real Estate Market or to discuss how they can assist you with your real estate needs please contact Goran at 416-756-5456, email at goran.brelih@cushwake.com, or visit www.goranbrelih.com.
