Tough Times For Little Guys
While there is 3.4M SF in spec industrial development under construction across the GTA—the most in a decade—the bulk isn't suited for users with smaller footprints. That's a problem, Avison Young's Mark Sevenpifer tells us, because "we're not seeing an abundance of larger tenants."
For users absorbing more than 200K SF, things are more favourable. Blackwood Partners' 100 Ironside Drive—a 728K SF facility in Brampton—is the largest spec development built since 2005, says Mark, the property's listing agent. And Carttera Private Equities is developing a 900k SF distribution centre (pictured above), also in Brampton. (Cars are always well maintained in renderings.) With few takers out there for larger properties, though, Mark's been fielding proposals from tenants seeking to break up bigger spaces into smaller chunks.
