Our team was busy in Q2 2018.
We processed a number of lease and sale transactions, design build and land sales across the Greater Toronto Area Industrial Market, representing both investors and occupiers.
SOME KEY TRANSACTIONS in Q2 2018 TO TAKE NOTE OF:
1. 300 Galcat Drive, Vaughan
“OFF THE MARKET TRANSACTION”
Modified Design Build For Lease – 116,000 sf
Landlord: Galcat Investments Inc.
Tenant: Next Plumbing & Hydronic Supply Inc.
Next Plumbing and Hydronic Supply Inc. moved into their brand new Head Office and Distribution building in Vaughan, located in close proximity to Pine Valley Drive and Hwy 407.
They almost doubled the overall size of their previous facility, while gaining larger office and customer service areas, higher ceiling height, outside pipe storage, larger parking area and truck access.
2. 300 Hanlan Road, Vaughan
Property Disposition – 104,500 sf
Vendor: 511338 Ontario Limited
Purchaser: 2631501 Ontario Inc.
We represented the Vendor in the disposition of a freestanding industrial facility in Vaughan, located close to Hwy 400 and Steeles Avenue West, that is currently occupied by a manufacturing company.
In a short period of time, we were able to generate a number of tours and interest from different parties. Having received multiple offers, the property was sold to a local Vaughan user/investor.
3. 1 Royal Gate Boulevard, Vaughan
Industrial Lease – 100,708 sf
Landlord: 1 Royal Gate Village Properties Ltd.
Tenant: Humberline Packaging Inc.
We represented the Landlord in leasing the property at 1 Royal Gate Boulevard in the City of Vaughan, located in close proximity to Hwy 407 and Hwy 27.
The property has excellent exposure to Hwy 27, ample parking, good shipping facilities and heavy power, suitable for a mid- to large-size manufacturing company with a warehousing/distribution component.
Having received multiple offers, the property was leased to a local, reputable large manufacturing company – Humberline Packaging.
4. 2750 Morningside Avenue, Scarborough
“OFF THE MARKET TRANSACTION”
Industrial Land Sale – 18.98 Acres
Vendor: Ideal Developments
Purchaser: Oxford Properties
We represented Ideal Developments in the disposition of 18.98 Acres of Industrial Land in Scarborough to Oxford Properties.
A brand new warehousing / distribution facility of approximately 335,000 sf will be constructed on this site with delivery in Q1 2020.
Size: 350,000 sf
Location: Central GTA, Etobicoke, North York or Scarborough
Timing: Occupancy for Q1 2020
Use: Food production / Warehousing
Type: Existing building, Speculative Construction or Modified Design Build
We are currently representing a large food manufacturing company looking to lease or purchase a larger facility, approximately 350,000 sf in the central GTA.
It could be an existing facility, speculative construction or modified design build with delivery in Q4 2019 or Q1 2020.
We have seen an increase in net rental rates on large blocks of space.
Lease rates are now starting at $7.25 net per sf and higher, while smaller blocks are leasing at more than $8.00 per sf net.
Property values have increased significantly over the past three months due to extremely low supply.
As you can see from the examples provided, a good number of lease and/or sale transactions are completed “off the market.”
That being said, make sure that you give us a call and let us know what you are looking for. There is a good chance that we can locate such a property for you.
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 or email at firstname.lastname@example.org