Canadian Industrial Real Estate Blog

RUMOUR MILL:

• 400,000 sf of 2nd generation manufacturing space came to the market in 4th quarter '07 in GTA West.
• General slowdown in land price escalation, limited land parcels available for user & design build purchases.
• Food company in the market to purchase land and build 200,000 to 250,000 sf facility in GTA north west.
• Kipling Road listing of approx. 200,000 sf conditionally sold within weeks of coming to the market.

MARKET WATCH:

• Transit company bought 4 acre piece of land at Trafalger & QEW for $775,000 per acre.
• 48,000 sf leased in Burlington for 6 years at $6.25 psf.
• Transport company leaving Northwest Drive for Rexdale location.
• 25,000 sf leased on Timberlea for $6.00 psf.

RUMOUR MILL:

• Bolton (South Albion) employment study to be completed by end of year.
• Hwy 427 route selection to be confirmed January '08.
• Large U.S. investor ties up considerable land holding in Hwy 427/27 corridor.

MARKET WATCH:

• 164,000 sf leased at 1453 Cornwall Rd., Oakville
• Sale-leaseback completed in Newmarket on 87,000 sf building, 7.5% cap.
• Team CRESST mandated by company to find approx. 250,000 to 300,000 sf warehouse/distribution space in GTA West.

RUMOUR MILL:

• Gaming company in the market for 300,000 sf.
• End user from Europe looking for 1,000,000 sf near London, Ontario.
• Large warehouse user close to taking 800,000 sf in Guelph.

MARKET WATCH:

• Team CRESST brings 41 City View Dr., Etobicoke to the market for lease. Approx. 90,000 sf, 24' clear, 10 TL doors, room for up to 25 trailer parking spots.
• Logistics company leases 5300 Satellite Drive for 10 years. Approx. 145,000 sf.
• Team CRESST to list 80 acres along Hwy. 404 corridor.
• Team CRESST land listing with Tramell Crow on Hwy. 27, bid date for offers closed yesterday. Vendor pleased with depth of offers.

RUMOUR MILL:

• MTO to propose final Hwy 427 route Jan '08.
• Approx. 20 acres at Langstaff and Highway 50 to transact in next few weeks. Buyer intends on future retail.
• U of T site in Richmond Hill coming to market soon. Approx. 200 acres.

MARKET WATCH:

• Apparel manufacturer/distributor leases 250,000 sf near 16th and Highway 404.
• 50 Devon Road, Brampton, comes off the market. Owner will re-occupy space. Approx. 46,000 sf.
• 3PL does short term deal on Annagem. Approx. 30,000 sf.

• Honda lands at Elgin Mills and Highway 407. Approx. 55 acres.

The following are rumblings from the Greater Toronto Industrial and Land Markets: 

RUMOUR MILL:

• Global logistic company looking to lease Maytag building on Champlain Rd in Burlington, adjacent to existing campus
• Developers rumoured to be moving forward on second Harvester Road building
• A large REIT is rumoured to have completed sale leasebacks on 12 buildings across Canada for a cold storage provider
• Pharmaceutical company in the market for 240,000 sf
• Toy company is rumoured to have leased 650,000 sf in Vaughan

MARKET WATCH:

• Team CRESST has brought 86 acres to the market for sale at Langstaff and Hwy 27. Offering Memorandum available now. Bid deadline Nov. 1st
• Team CRESST mandated by Town of Aurora to sell approx. 80 acres
• Team CRESST mandated to sell approx. 23 acres in Vaughan
• Team CRESST mandated by 3M to lease 250,000 sf to 300,000 sf in GTA West
• 107 Summerlea Rd., 192,000 sf, no longer available. Tenant has renewed for 2 years
• 11.5 acres sold on Speers Rd

The following are rumblings from the Greater Toronto  Industrial and Land Markets

RUMOUR MILL:

• 3644 Wolfedale (Burnhamthorpe & Wolfedale) coming to the market for sale or lease. Approx. 175,000 square feet. Possible re-development opportunity.
• 7 acre site in Burlington close to being finalized at $350,000 per acre.
• 350,000 square feet is leased out at 100 Royal Group.

MARKET WATCH:

• Logistics company leases out the Gap building for 3 years.
• Logistics company leases 180,000 square feet for 2 years at 7380 Bren Road.
• Tenant leases out 5690 Timberlea for 8 year term.
• 100,000 square feet at 101 Royal Group is leased for 3 month term.