Milton – Territory Report – Q3 2019
As one of Canada’s fastest-growing Towns, Milton continues to be a highly desirable Sub-Market in the Halton Region.
Strong growth in transportation, manufacturing, warehousing, and retail employment has driven demand for industrial and retail properties. Further, Milton is identified as the centre of the GTA West labour pool, representing 35% of the GTHA’S labour force.
Derry Green Corporate Business Park is underway and will be home to a mix of businesses, such as innovative logistics, advanced manufacturing, and distribution facilities.
Examples include:
– DSV Global Transport and Logistics opening a new state-of-the-art 1.1M SF logistics complex
– Orlando Corporation has submitted a site plan application for 1M SF industrial facility – Several developments are anticipated to move forward this year with Menkes, Broccolini, and Oxford. In summary:
– Vacancy rates have inched down further to only 1.9% available of a total of 21M SF;
– Average sales prices increasing to $200 PSF;
– Average asking rental rates increased to $9.97 PSF Net (an increase of 12.5% over the past 12 months);
– Average sales price per acre increasing to $1.2M
For a full report on the Milton Market, including details on any recent transactions or off-market opportunities, please contact us.
Anthony Cutrara 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.wpengine.com.
To receive guidance on any of your commercial real estate needs, please contact Kevin at 416.628.8183, email at acutrara@lee-associates.com, or visit www.leetoronto.wpengine.com.