Avison Young in Toronto West
Since Avison Young opened its Toronto West office in 1997, the company has become a dominant presence in the Toronto West commercial real estate market. As the Toronto West office expanded, it attracted top commercial real estate professionals who specialized in office, industrial, retail, land and investment transactions. The office frequently collaborates with other Avison offices, from Calgary and Toronto, to Chicago and Boston, to serve local, national and international clients.
Toronto West is located at the core of the largest industrial market in Canada and one of the five largest industrial markets in North America. Along with a significant inventory of industrial space, Toronto West contains substantial office and retail inventories. The market encompasses cities west of Toronto including Etobicoke (Toronto), Mississauga, Brampton, Caledon in the Region of Peel and Milton, Halton Hills, Oakville and Burlington in the Region of Halton. One of the fastest growing areas in the country, (Peel and Halton Regions – StatsCan) Peel and Halton Regions are together projected to increase to 2.6 million residents by 2031 (Places to Grow, 2016), from 1.9 million in 2016 (Statistics Canada, 2016). The wide variety of culture and ethnicity across Toronto West has attracted substantial foreign investment, new housing growth and an entrepreneurial spirit generating new business across a variety of sectors. The business environment mirrors the diversity of the region with a well-educated, multi-lingual and highly-skilled labour force providing a tremendous opportunity for growth. The area is well served by a range of industrial sectors that include transportation, warehousing and logistics, manufacturing, information and communications technology, engineering and construction, life sciences, pharmaceutical, research and development, professional and financial services and many more. Toronto West is served by six major highways (Highways 401, 407, 403, 427, 410 and QEW) as well as local public and regional transit, and contains Toronto Pearson International Airport, Canada’s largest and busiest airport.
Valuation and Advisory Services
Avison Young offers comprehensive real estate valuation and consulting services. Together with our partners and affiliates, we deliver a broad range of valuation, consulting and services to our clients. Whether it is the disposition, acquisition or leasing of facilities, it is imperative to have a clear indication of value to accurately assess the proposed transaction. We can deliver a comprehensive range of commercial real estate consulting services dealing with all property types, small to large as well as multi-national. For more information about our Valuation and Advisory Services, please click here.
Our Users / Occupiers have partnered with our seasoned professionals to provide the expertise and support in creating customized solutions to match their facilities business objectives. By providing strong, expert leadership from the start of a project, we give clients the level of confidence and assurance that they require. Whether it is to assist in the evaluation of a stay-in-place renewal, consolidation / restack, relocation to a leased or purchased building or out-of-the-ground development, our team applies their experience and market knowledge to define the client’s goals and business objectives and effectively manage the project through the implementation and completion. For more information about our Project Management, please click here.
The Toronto West office market comprises over 500 buildings totaling over 44 million square feet, and is the second largest office market in the Greater Toronto Area (GTA) after Downtown Toronto. Toronto West’s office market has evolved into a leading destination for prominent corporations. As a result, demand for office product is steady as commercial tenants consider the various advantages to locating in the market, such as proximity to transportation routes, relatively attractive rental rates and access to amenities, when determining where to situate a head office. This asset class has fluctuated with the fortunes of the southern Ontario economy but has shown resiliency over time.
Toronto West is at the hub of the GTA industrial market (874 million square feet) ― the largest in Canada and one of the largest in North America. Toronto West consists of over 6,300 industrial buildings totaling almost 380 million square feet, making it the largest industrial market in the GTA. Due to its distinct geographic location, Toronto West offers industrial tenants leading-edge facilities for their operations. Manufacturing, distribution and logistics operations dominate the industrial real estate landscape. While this asset class has struggled in recent years, it has strengthened as deal velocity returns to pre-recession levels.
Retail commercial space in Toronto West is diverse and offers options in both size and budget for all classes of retail space to suit the needs of the market. The largest enclosed regional shopping centres include Square One (Mississauga), Bramalea City Centre (Brampton), Sherway Gardens (Etobicoke), Erin Mills Town Centre (Mississauga), Shoppers World (Brampton) and RioCan Oakville Place (Oakville). This mix of centres feature a variety of local and international retailers, providing consumers with limitless options for shopping and dining.
Major investment firms active in this market include private investors, REITs, pension funds and insurance companies. Investors want to acquire quality product as they look to expand their portfolios. Investors covet office, industrial, retail and ICI land. As a result, cap rate compression has intensified as competition increases.