The Etobicoke Industrial Market, consisting of approximately 68 Million SF of industrial space, is the second largest industrial market in Toronto Central Markets (also comprises of Toronto, York, East York, North York and Scarborough), which makes up a total of about 231 Million SF.
Current vacancy rates are at about 2.0.% of overall inventory, with average Net Rental Rates being $5.50 PSF and average Additional Rent (TMI) being $3.45 PSF.
ETOBICOKE STATS:
- Inventory – 68,855,000 SF
- Vacancy Rate – 2.0%
- Average Net Rent – $5.50
- Average Additional Rent – $3.45
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+:
ETOBICOKE LEASING MARKET
PROPERTIES AVAILABLE FOR LEASE – 20,000-50,000 SF:
*Specialty Building(s), Cross Dock and 2 storey, Not calculated in averages
PROPERTIES AVAILABLE FOR LEASE – 50,000-100,000 SF:
*Specialty Building, Cross Dock, Not Calculated in averages
PROPERTIES AVAILABLE FOR LEASE – 100,000 SF+:
*Specialty Building, suitable for data centre, not calculated in averages
KEY TAKEAWAYS:
- Vacancy rates are low, limited or no supply of new product.
- Net rental rates are increasing due to very low supply.
- Average net rental rate for small bay (20KSF-50KSF) is $5.63 PSF, most of the buildings are offered from $5.25 to $5.95; Average net rental rate for medium bay (50KSF-100KSF) is $5.64 PSF, most buildings are offered from $5.25 to $6.00 PSF while average net rental rate for large bay (100KSF+) is $4.87 PSF.
- Only one property larger than 100,000 SF is still available for purchase on an unpriced basis.
- Average asking purchase price below 50,000 SF in size is $189 PSF, between 50,000 – 100,000 SF is $174 PSF.
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.
