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.
– 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.
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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.