Establishing True Valuations In Different Markets Across the GTA

Continuing off from our last article profiling Vaughan – which you can view here – we will finish off the week (and Toronto-North) with a look at Markham, Richmond Hill, & Aurora/Newmarket.

Markham has grown into a “High-Tech Hub” with superb access to the transportation network. It is comprised predominantly of small-bay and mid-size bay product with a higher proportion of office. 

Finally, it’s the tightest and most expensive market in the GTA in terms of net rental rates. 

 

Toronto North (Markham) Markets

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

In 2018, a total of 5 properties between 20,000 – 50,000 SF were sold. The prices achieved were in the rage of $162 – $286 PSF, with an average building size of 34,769 SF and an average price of $219.80 PSF.

341 Steelcase Road West, Markham

 

Toronto North (Markham) Markets

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

Further, in 2018, a total of 6 properties between 50,000 – 100,000 SF were sold. Prices achieved were from $114 – $303 PSF, with an average building size of 71,442 SF and an average price of $169 PSF.

56 Steelcase Road West, Markham

 

Toronto North (Markham) Markets

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

When looking at properties larger than 100,000 SF, a total of 2 sold in 2018. Prices achieved were from $81 – $170 PSF with an average building size of 176,453 SF and an average price of $125.50 PSF.

2601 Fourteenth Avenue, Markham

 

Toronto North (Markham) Markets

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

On the leasing side, a total of 6 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved were from $5.95 – $9.40 PSF with an average building size of 30,708 SF and an average net rental rate of $8.11 PSF.

70 Esna Park Drive, Markham

 

Toronto North (Markham) Markets

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

A total of 3 properties between 50,000 – 100,000 SF were leased in 2018. The net rental rates achieved ranged from $5.50 – $7.50 PSF, with an average size of a building being 78,435 SF and an average net rental rate of $6.67 PSF.

7400 Woodbine Avenue, Markham

 

Toronto North (Markham) Markets

There were 0 Properties Leased in 2018 in the Size Range of 100,000 SF plus

 

Toronto North (Richmond Hill) Markets

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

In 2018, a total of 3 properties between 20,000 – 50,000 SF were sold. The prices achieved were in the range of $196 – $205 PSF, with an average building size of 42,023 SF and an average price of $200.33 PSF.

40 West Beaver Creek Road, Richmond Hill

 

Toronto North (Richmond Hill) Markets

There were 0 Properties Sold in 2018 in the Size Range 50,000 – 100,000 SF

 

Toronto North (Richmond Hill) Markets

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

In 2018, 1 property was sold in the size range of 100,000 Sf plus. The price is $143 PSF, with a building size of 166,768 SF.

66 Leek Crescent, Richmond Hill

 

Toronto North (Richmond Hill) Markets

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

On the leasing side, a total of 7 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved were from $7.80 – $10.75 PSF with an average building size of 25,093 SF and an average net rental rate of $4.93 PSF.

88 East Beaver Creek, Richmond Hill

 

Toronto North (Richmond Hill) Markets

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

In 2018, 1 property was Leased in the size range of 50,000 – 100,000 SF. The Net Rent is $8.50 PSF, with a building size of 93,137 SF.

35 Staples Avenue, Richmond Hill

 

Toronto North (Richmond Hill) Markets

There were 0 Properties Leased in 2018 in the Size Range 100,000 SF plus.

 

Toronto North (Aurora/Newmarket) Markets

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

In 2018, 1 property between 20,000 – 50,000 SF was sold. The prices achieved was $133 PSF, with a building size of 45,737 SF.

245 Industrial Parkway, Aurora 

 

Toronto North (Aurora/Newmarket) Markets

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

Further, in 2018, 1 property between 50,000 – 100,000 SF was sold. Price achieved was $113 PSF, with a building size of 68,282 SF.

630 Newpark Boulevard, Newmarket

 

Toronto North (Aurora/Newmarket) Markets

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

When looking at properties larger than 100,000 SF, a total of 2 sold in 2018. Prices achieved were from $98 – $119 PSF, with an average building size of 254,106 SF and an average price of $108.50 PSF.

520,550,564,594 Newpark Blvd., Newmarket

 

Toronto North (Aurora/Newmarket) Markets

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

On the leasing side, a total of 2 properties between 20,000 – 50,000 SF were leased in 2018. The net rental rates achieved were from $6.95 – $7.95 PSF, with an average building size of 24,011 SF and an average net rental rate of $7.45 PSF.

250 Don Hillock Drive, Aurora

 

Toronto North (Aurora/Newmarket) Markets

There were 0 properties between 50,000 – 100,000 SF were leased in 2018. 

 

Toronto North (Aurora/Newmarket) Markets

There were 0 properties larger than 100,000 SF were leased in 2018. 

 

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 for 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.