October 2nd, 2026
Etobicoke has become the proving ground for infill logistics in Toronto. Its south end offers direct access to the Gardiner Expressway and QEW, a short drive to downtown, and one of the deepest labour pools in the region. New-generation buildings here have leased up, and the next major site has just come to market.
- The leasing leader: Thirteen leases over 20,000 SF totalled 764,462 SF, by far the most of any Central submarket. Net rents ranged from $8.50 to $19.00 PSF, with an average of $14.72 PSF.
- New product commands a premium: The Birmingham’s 36′ space is now fully lease, including JiuFang Canada E-Commerce Logistics’ 62,903 SF commitment.
- Location still wins: Wakefield Canada took 112,080 SF at 3620 Lake Shore Boulevard West despite a 14′ clear height, a reminder that last-mile users will trade specifications for location.
- One sale: 260 Rexdale Boulevard, a 63,550 SF single-tenant building, sold for $15.5 million, or $244 PSF, as an investment
Etobicoke’s New Generation Supply
| Project | Size (SF) | Status | Clear | Developer / Owner | Highlights |
|---|---|---|---|---|---|
| 60 Birmingham Street (The Birmingham) | 397,684 | Completed – fully leased | 36′ | Quadreal | Islington / Lake Shore; three buildings |
| 541 Kipling Avenue | 337,210 | Completed – available | 36′ | Beedie | Divisible to 83,000 SF; the only completed new-generation building available in the Central Markets |
| 260 Eighth Street (New Toronto Business Park) | 466,307 | Proposed – design-build lease | 36′ | Pure Industrial / Hopewell | Two buildings (256,865 & 209,442 SF) on 20 ac; 71 truck-level doors; 46 trailer stalls; E1.0 zoning; ~18 months from lease execution |
What the Pipeline Tells Us
- Demand for modern space near downtown is real. The Birmingham leased fully, and at rents well above the Central average. That gives developers the evidence they need to underwrite the next project.
- 260 Eighth Street is the next test. The New Toronto site is being offered design-build only, so construction starts when a tenant commits. Its marketing highlights a labour force of about 719,000 within 10 km and downtown access in about 10 minutes.
- Heritage and industry can coexist. The 260 Eighth Street plan keeps the heritage-designated New Toronto Hydro Substation building as a feature of the site. Expect more Toronto infill projects to work around heritage and planning constraints rather than clear-cutting sites.
- Large blocks are thin. Once 541 Kipling is leased, Etobicoke will have no completed new-generation space above about 80,000 SF until a design-build project delivers.
What it means for you
- For Investors: Leased-up, new-generation product in South Etobicoke is scarce and likely to trade at premium pricing when it comes to market.
- For Developers: The Birmingham’s lease-up and The New Toronto site show there is appetite to build near the lake. Sites along the Gardiner and QEW with obsolete buildings are prime redevelopment candidates.
- For Landlords: Older Etobicoke buildings with good location still lease, but at a clear discount. Sublease and low-clear space traded as low as $8.50 PSF in Q2.
- For Tenants: 541 Kipling is the main immediate option for a large, modern requirement. Anything bigger will require an 18-month-plus design-build commitment, so plan early.
Coming Up
Next week we look at North York, where owner-users are paying top dollar for older buildings and two new 40′ projects are coming to the Highway 400 corridor.
A lot of transactions are being done off the market.
For a confidential consultation or a complimentary opinion of value of your property, please reach out to our team.
Until next week…
Goran Brelih is an Executive Vice President for Cushman & Wakefield ULC in the Greater Toronto Area. Over the past 30 years, he has been involved in the lease or sale of approximately 25.7 million square feet of industrial space, valued in excess of $1.6 billion dollars while averaging between 40 and 50 transactions per year and achieving the highest level of sales, from the President’s Round Table to Top Ten in GTA and the National Top Ten.
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.
Connect with Me Here!
Goran Brelih’s Linkedin Profile: https://ca.linkedin.com/in/goranbrelih
Specialties:
Industrial Real Estate Sales and Leasing, Investment Sales, Design-Build and Land Development
About Cushman & Wakefield ULC.
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries.
In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com.
Goran Brelih, SIOR
Executive Vice President, Broker
Cushman & Wakefield ULC, Brokerage.
www.cushmanwakefield.com
Office: 416-756-5456
Mobile: 416-458-4264
Mail: goran.brelih@cushwake.com
Website: www.goranbrelih.com
