South Etobicoke – Territory Report – Q3 2019

The South Etobicoke Industrial Market continues to heat up as Owners and Occupiers look to take advantage of its location and high population density.

The sub-market offers a strategic option given its central location between downtown Toronto and the GTA West, including major transportation routes and access to a large labour pool.

Most notably, the provincial government moved to designate the Ontario Food Terminal Lands as a Provincially Significant Employment Zone , with plans to modernize the facility. This decision should attract more investors to the South Etobicoke Market; as we have already seen Metro expand their South Etobicoke footprint by an additional 700,000 square feet.

In summary:

– Vacancy rates have decreased further to just 1.12% available of a total of 29.4M SF

– Average sales asking prices increasing to $225 PSF

– Average asking leasing rates increased to $14.12 PSF Gross (an increase of 9.20% over the past 12 months)

– Average sales price per acre increasing to $2.1M

Overall, Owners and Occupiers can improve their operational presence given the ideal location. With the move towards urban infill sites and a finite amount of land and space, rates and values will continue to increase.

Please contact us.

Jake Mondrow is a Senior Associate of Lee & Associates Toronto, specializing in the acquisition, disposition, and leasing of industrial properties, as well as providing Owners and Occupiers of commercial real estate with a full range of services. 

ABOUT LEE & ASSOCIATES

Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada.

Lee & Associates provides superior market intelligence in office, industrial, retail, investment, and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit leetoronto.com.

To receive guidance on any of your commercial real estate needs, please contact Jake at 416.628.8201, email at jmondrow@lee-associates.com, or visit www.leetoronto.com