Case Study – Warehousing Facility, Mississauga, Ontario
As commercial real estate brokers, it is our responsibility to keep our finger on the pulse of the market while building relationships with decision-makers in order to gather intel and find opportunity for our clients. Waiting for something to show up on the Multiple Listing Service or a print or billboard advertisement just isn’t as reliable as it used to be; and not likely to happen with a market as tight as it is today.
If you are a business owner or operator occupying a:
- Warehousing or distribution center,
- Manufacturing facility,
- Transport or truck repair center,
- Dispatch center, or
- Logistics facility…
In the Greater Toronto Area, then you may understand what I am talking about.
With the prevailing trends of e-commerce, logistics, and transportation putting pressure on business owners to find well-located space at reasonable rental rates, most of the ‘prime’ locations that tenants have on their dream list can usually only be found off the market (unless you are willing to wait or pay a premium).
Therefore, if you are looking for space, or just now thinking about moving, expanding, or renewing, it may be in your best interest to communicate with brokers who can give you the inside scoop on what is happening in your market and vertical.
In this case study, you’ll be able to see exactly how we leveraged our network of relationships to bring an extremely valuable opportunity to a User in need of space.
Team Toronto was tasked with finding a suitable tenant to lease a portion of this high quality warehousing facility. With quick access to two major highways, multiple entrances, 32’ by 48’ staging bays, and truck level doors, this space would be well suited for many Users looking to package or transport goods.
- Approximately 40,000 SF total
- Well-Located Proximal to Major Transportation Routes
- 28’ Clear
- Truck Level and Drive In Doors
In this case, because we had a prized location that would work for many different tenants, we looked to find a User who could both benefit from the quality of the facility as well as the premium location. We ran the property through our standard process and came up with an ideal profile based on needs, industries, business type, and strategic benefits.
Due to our existing network and active relationships with Users and Occupiers across the GTA and greater region, we were able to tap into our contacts to see if there was any need. In running the process this way, we could match-make in a way that would provide the most value to both Landlord and User; effectively creating a win-win.
As a result of our diligent outreach and following the steps we laid out, we were able to bring interested Parties to the table. We were then able to negotiate and work with any offers to bring the deal under contract.
Bottom Line: We were able to secure a quality Tenant for the Landlord while providing the User with an amazing, well-located space.
In conclusion, if you are a User looking to find the best possible space in a time when vacancy rates are at historic lows, then you may want to stay in touch with brokers who specialize in your vertical and territory, as they can provide a no-obligation assessment of your needs and updates on off-market opportunities as they come up.
If that is you, then please give us a call and we would be happy to discuss your unique situation.
Daniel Smith is a Vice President and Principal of Lee & Associates Toronto, specializing in the acquisition, disposition, and leasing of industrial properties, as well as providing clients such as local and national corporations, landlords, and developers with a full range of real estate 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 get clarity and direction when looking for space or going through a lease renewal, or to discuss any other real estate needs, please contact Daniel at 416.628.8173, email at firstname.lastname@example.org, or visit www.leetoronto.com.