DON MILLS & YORK MILLS DISTRICT PROFILE

February 26th, 2019

Neighbourhood Analysis – Don Mills & York Mills area

The highly diverse Don Mills & York Mills district is home to companies ranging from private local businesses to large multinational organizations. This dynamic pocket of office, commercial retail and industrial properties are surrounded by the affluent residential communities creating a strong consumer and employee base.

The Don Mills district is ideally situated between the downtown core and the GTA’s sprawling suburban markets, driving demand from companies seeking to attract and retain talent in a location close to a large employment base with great connectivity to transportation infrastructure.

Don Mills & York Mills Area Developments:

Don Park site conversion from industrial to retail

840 York Mills Road, Toronto

Proposed conversion from Industrial to urban style, retail plaza anchored by Walmart.

840-842 York Mills Rd., Construction Phase, 320,000 SF on 14.060 acres.

 

Multi-level mixed-use, self-storage, retail, and proposed office development.

The newly-proposed 9-story building at 850 York Mills Road will have 354,000 SF of storage units, mostly wrapped and largely obscured by 54,600 SF of retail and 198,000 SF of office space for a total of 252,600 SF. The development proposal includes two levels of underground parking with 688 total spots. 

 

Scarsdale Road conversion from industrial to multi-tenant flex office

31 Scarsdale Road, Toronto, Credit – NXL Architects

Conversion from industrial to LEED GOLD multi-tenant flex office space, 41,563 SF on 1.81 acres

 

National Post Building conversion from office to self-storage

1450 Don Mills Road, Toronto, Credit – NYX Capital

Bluebird Self Storage recently purchased the former National Post office building on Don Mills Road. It was purchased with the intention of converting the 154,800 SF building into a storage facility with 1,491 units of various sizes, suitable for both residential and commercial tenants. 

 

Westin Prince Hotel Proposed, office, hotel, and residential redevelopment 

Westin Prince Hotel Redevelopment Proposal, York Mills Road, Toronto, Credit – Quadrangle Architects

The proposed redevelopment of the Westin Prince Hotel site in North York calls for a new:

  • 10-story hotel wing, 
  • a new ballroom,
  • an expanded conference center,
  • two residential mixed-use towers with heights of 26 and 32 storeys,
  • an 8-story mid-rise office building, and
  • two above-ground parking garages.

Also, a public park is proposed for the east edge of the site.

 

Celestica Site redevelopment to retail, commercial, office, residential space

844 Don Mills Road, Toronto, Credit – Urban Metrics

The 60-acre master planned development located on the northwest corner of Eglinton and Don Mills Road, will feature retail commercial space, office buildings, and residential uses – in the form of towers and low-rise townhouses, all connected through a series of pedestrian links, bike paths, and new roads, as well as parks and open spaces.

At the same time, Celestica Inc. headquarters will remain on-site, moving into an 8-storey office building fronting Don Mills.

The total proposed gross floor area for the development is over 4.1 million ft², consisting of:

  • over 3.2 million SF of residential use,
  • 605,000 SF of office space,
  • 120,000 SF of retail, and
  • 170,000 SF of recreational space – including a twin-pad hockey arena, indoor basketball courts, and swimming pool. 

 

Inn on the Park redevelopment to residential and commercial retail space

1095 Leslie Street, Toronto, Credit – Urban Toronto

The proposed development will feature four residential towers, ranging in height between 28 and 39 storeys, and containing 1,380 units with 20 three-storey townhouses and commercial retail space on the ground level at the site.

The 34 and 39-storey towers will be located at south-center and southeast of the site respectively, with a 28-storey tower to the west and a 29-storey tower to the northeast.

A stop on the new Crosstown LRT is being built within walking distance of the site at the corner of Leslie and Eglinton.

This Thursday, we will do an analysis of this pocket’s market stats and trends – including market highlights, vacancy rates, leasing demand, recent sales transactions… as well as a fantastic opportunity at a property with stable income and the ability to significantly enhance future value.

Until then…

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 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.