The Scarborough Industrial Market, consisting of approximately 58 Million SF of industrial space, is the third largest industrial market in Toronto Central Markets (also comprises of Toronto, York, East York, North York and Etobicoke), which makes up a total of about 231 Million SF.
Current vacancy rates are at about 1.4% of overall inventory, with average Net Rental Rates being $6.03 PSF and average Additional Rent (TMI) being $3.56 PSF.
- Inventory – 58,366,000 SF
- Vacancy Rate – 1.4%
- Average Net Rent – $6.03
- Average Additional Rent – $3.56
SCARBOROUGH SALE MARKET
PROPERTIES AVAILABLE FOR SALE – 20,000-50,000 SF:
PROPERTIES AVAILABLE FOR SALE – 50,000-100,000 SF:
PROPERTIES AVAILABLE FOR SALE – 100,000 SF+:
SCARBOROUGH LEASING MARKET
PROPERTIES AVAILABLE FOR LEASE – 20,000-50,000 SF:
PROPERTIES AVAILABLE FOR LEASE – 50,000-100,000 SF:
PROPERTIES AVAILABLE FOR LEASE – 100,000 SF+:
*Building Under Construction
- Vacancy rates are low, we will see this trend continue throughout 2018 and beyond.
- Net rental rates are increasing due to very low supply.
- New construction is very active with MetroEast Business Park at Steeles Ave East, Tapscott bringing on about 1.6 million SF of new space in four buildings, each about 380,000 SF in size, and new construction of 295,000 SF of flex warehouse distribution space at Sheppard Ave East and Morningside Avenue.
- Properties available for sale are almost non-existent and values have increased considerably. Most smaller buildings are achieving about $175 PSF, depending on the property itself, size and location. There are currently five user purchase opportunities, and two multi-tenant industrial buildings available for purchase.
- Just one property larger than 100,000 SF is available for purchase, with occupancy in 12 months from now.
- Net rental rates for new construction are starting at $7.25- $7.95 PSF net, while existing buildings are priced from $6.25 to $7.25 PSF net, excluding sublease opportunities.
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 firstname.lastname@example.org, or visit www.goranbrelih.com.