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 second main strategy – Modifying and Improving Existing Buildings.
If you missed our first part and strategy, you can see it by clicking here.
MODIFYING AND IMPROVING EXISTING BUILDINGS
TORONTO CENTRAL / HWY 400 CORRIDOR – USER PROJECT – UNDER CONSTRUCTION
- A local food manufacturing and distribution company purchased an older, obsolete, 129,000 SF industrial building on 5.3 acres of land. They are in the process of raising the roof while removing part of the building to improve shipping access for large trailers. Following a complete renovation and upgrade, the property will be occupied by a user for their own warehouse/distribution facility needs.
TORONTO CENTRAL/CASTLEFIELD & CALEDONIA AREA – INVESTOR PROJECT – UNDER CONSTRUCTION, FULLY LEASED
- A local investor purchased an older, obsolete, 158,000 SF industrial building on 7.34 acres of land. The property was completely re-positioned with 80,000 SF leased to furniture retailers. The front office space was renovated and leased to a law office, while the balance of the building is still occupied by an original industrial user, to be repositioned upon expiry of the lease.
TORONTO CENTRAL YORK MILLS & DON MILLS AREA – USER/INVESTOR PROJECT – COMPLETED, FULLY LEASED
- A local user/investor purchased an older, 41,000 SF industrial facility on 1.8 acres of land and converted it into flex office. The building’s interior was completely retrofitted, while the last bay was removed, increasing the parking count outside. A second floor was added in the rear, and the exterior precast concrete and brick and block walls were replaced with glass.
That’s it for our 2-part series on the strategies investors and occupies are using to create opportunities in one of North America’s tightest markets.
It’s no longer the case that you can sit back, wait for listings to pop up on MLS, or have your choice of deals on-demand with respect to property, asset type, or location.
This market is all about insight and relationships – understanding the intricacy of each sub-market, and capitalizing on off-market opportunities that are available to few. That’s why you need to regularly communicate and speak to the brokers on the street – with the freshest intel, deepest network, and access to opportunity.
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 email@example.com, or visit www.goranbrelih.com.