Establishing True Valuations In Different Markets Across the GTA

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 in each sub-market.

 

This week we are covering our third sub-market profile.

 

Toronto North (Vaughan) Markets

Properties Sold in 2018, Size Range 20,000 – 50,000 SF 

In 2018, a total of 14 properties between 20,000 – 50,000 SF were sold. The prices achieved were in the rage of $152 – $273 PSF, with an average building size of 30,185 SF and an average price of $208.50 PSF  (only the ten largest transactions are shown above).

270 Vaughan Valley, Vaughan

 

Toronto North (Vaughan) Markets

Properties Sold in 2018, Size Range 50,000 – 100,000 SF

Further, in 2018, a total of 4 properties between 50,000 – 100,000 SF were sold. Prices achieved were from $94 – $212 PSF, with an average building size of 58,942 SF and an average price of $158 PSF.

31 Conair Parkway, Vaughan

 

Toronto North (Vaughan) Markets

Properties Sold in 2018, Size Range 100,000 SF plus

When looking at properties larger than 100,000 SF, a total of 5 sold in 2018. Prices achieved were from $123 – $209 PSF, with an average building size of 115,788 SF and an average price of $168.40 PSF.

100 Pippin Road, Vaughan

 

Toronto North (Vaughan) Markets

Properties Leased in 2018, Size Range 20,000 – 50,000 SF

On the leasing side, a total of 25 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved were from $5.50 – $8.75 PSF, with an average building size of 33,244 SF and an average net rental rate of $7.32 PSF (only ten largest transactions are shown).

7810 Keele Street, Vaughan

 

Toronto North (Vaughan) Markets

Properties Leased in 2018, Size Range 50,000 – 100,000 SF

A total of 9 properties between 50,000 – 100,000 SF were leased in 2018. The net rental rates achieved ranged from $5.75 – $7.85 PSF, with an average size of a building being 72,041 SF and an average net rental rate of $6.95 PSF.

111 Royal Group Crescent, Vaughan 

 

Toronto North (Vaughan) Markets

Properties Leased in 2018, Size Range 100,000 SF plus

Lastly, a total of 9 properties larger than 100,000 SF were leased in 2018. The net rental rates achieved ranged from $5.75 – $7.45 PSF, with an average building size 269,719 SF and an average net rental rate of $6.70 PSF.

9501 Highway 50, Vaughan

To be continued with Toronto North (Markham, Richmond Hill, Aurora/Newmarket) Markets on Thursday…

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.

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.