Establishing True Valuations In Different Markets Across the GTA – Part 4

Understanding general trends is great, but you may be asking yourself… 

“How much is my property really worth?” 

What rental rate can I expect? How much $/PSF would I be able to get if I sold my building? 

These questions are being asked all the time. Well, it depends on many factors, including the age and size of the building, lot size, ceiling height, office component, parking, trucking access, truck parking if available, etc….

In order to get to the truth, we need to dig a bit deeper into each sub-market.

This week we are covering our fourth and final sub-market profile.

 

Toronto East (Pickering) Markets

Properties Sold in 2018, Size Range 20,000 SF Plus  

In 2018, 2 properties were sold in the size range of 20,000 – 50,000 SF, with an average building size of 37,145 SF, and the price achieved was $116.50 PSF.

No properties were sold in the size range of 50,000 – 100,000 SF.

2 properties were sold in the size range of 100,000+ SF, with an average building size of 141,294 SF at an average price of $93 PSF.

1840 Clements Road, Pickering

 

Toronto East (Ajax) Markets

Properties Sold in 2018, Size Range 20,000 SF Plus

In 2018, a total of 3 properties between 20,000 – 50,000 SF were sold. The prices achieved were in the rage of $105 – $186 PSF, with an average building size of 35,413 SF and an average price of $131 PSF. 

There were 0 properties sold in the size range of 50,000 SF – 100,000 SF.

When looking at properties larger than 100,000 SF, 1 property was sold with a building size of 116,779 SF for $91 PSF.

80 Fuller Road, Ajax

 

Toronto East (Whitby) Markets

Properties Sold in 2018, Size Range 20,000 SF Plus   

In 2018, 0 properties were sold in the size range of 20,000 – 50,000 SF, nor in the range of 50,000 – 100,000 SF.

4 properties were sold in the size range of 100,000+ SF. The achieved sold price ranged from $75 – $103 with an average building size of 248,964 SF at an average price of $86 PSF.

1601 & 1635 Tricont Avenue, Whitby

 

Toronto East (Oshawa) Markets

Properties Sold in 2018, Size Range 20,000 SF Plus

In 2018, 1 property was sold in the size range of 20,000 – 50,000 SF with a building size of 26,000 SF, and the price achieved was $112 PSF.

1 property was sold in the size range of 50,000 – 100,000 SF with a building size of 58,817 SF, and the price achieved was $103 PSF.

Finally, 2 properties were sold in the size range of 100,000+ SF, with an average building size of 369,500 Sf at an average price of $81 PSF.

1001 Thornton Road South, Oshawa

 

Toronto East (Pickering) Markets

Properties Leased in 2018, Size Range 20,000 SF Plus

Asking Net Rental Rates*

A total of 4 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved ranged from $5.15 – $7.25 PSF, with an average size of a building being 36,192 SF and an average net rental rate of $6.03 PSF.

Lastly, no properties were leased in the size range of 50,000 – 100,000 SF, nor in the range of 100,000+ SF.

1420 Bayly Street, Pickering

 

Toronto East (Ajax) Markets

Properties Leased in 2018, Size Range 20,000 SF Plus

Asking Net Rental Rates*

 

A total of 3 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved ranged from $4.88 – $5.50 PSF, with an average size of a building being 25,654 SF and an average net rental rate of $5.29 PSF.

No properties were leased in the size range of 50,000 – 100,000 SF, nor in the range of 100,000+ SF.

89 Mills Road, Ajax

 

Toronto East (Whitby) Markets

Properties Leased in 2018, Size Range 20,000 SF Plus

Asking Net Rental Rates*

A total of 4 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved ranged from $4.80- $7.35 PSF, with an average size of a building being 28,747 SF and an average net rental rate of $6.15 PSF.

Further, 2 properties were leased in the size range of 50,000 – 100,000 SF. The net rental rates achieved ranged from $5.95 – $6.50 PSF, with an average size of a building being 72,100 SF and an average net rental rate of $6.23 PSF.

Lastly, 1 property was leased in the size range of 100,000+ SF.

185 William Smith Drive, Whitby

 

CONCLUSION:

So, how much is your property really worth? 

What rental rate can you expect or how much per SF would you be able to get if you sell your building? How much can we compress CAP rates to create even greater value?

For a confidential consultation or complimentary opinion of value of your property please give us a call.

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.

Goran Brelih is a Senior Vice President for Cushman & Wakefield ULC in the Greater Toronto Area. 

Over the past 27 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 Industrial Representatives in GTA and the National Top Ten.

Goran is currently serving as President of the SIOR ‐ Society of Industrial and Office Realtors, Central Canadian Chapter and on the Board of Directors of Muki Baum Accessibility Centre, a Toronto‐based NGO which provides support to children and adults with complex disabilities.

Specialties:

Industrial Real Estate Sales and Leasing, Investment Sales, Design Build and Land Development

About Cushman & Wakefield ULC.

Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory, and other services.

To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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.

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