Mississauga Industrial Real Estate
Mississauga has one the lowest real estate rates in the surrounding Toronto GTA area. This makes commercial real estate in this city attractive to all distribution and manufacturing businesses, and I have assisted firms based in Europe and the U.S.A requiring warehouse space.
Many warehouse properties in Mississauga provide height clearance of over 18 ft., and clearance truck swings for 53′ trailers which is required by modern industrial properties.
With seven major highways passing through the city, Mississauga offers fast and convenient access to surrounding 400 series highways to major destinations in Canada and the United States. Toronto Pearson International Airport, Canada’s busiest airport, is located in the city of Mississauga. The city has doubled in population in each of the last two decades, and has been debt-free since 1978.
Landscape in Missisauga
Mississauga is home to more than 18,000 companies ranging from corporate head offices to industrial warehouse branch operations. This includes 50 of Canada’s Fortune 500. Approximately half or 9,000 of theses businesses are in the manufacturing, product distribution or corporate sectors are requiring warehouse space and office space in the city.
The economic stability of Mississauga is enhanced by thousands of small and medium-sized businesses. A large percentage of these employers have fewer than 50 employees.
In Mississauga there is a trend away from traditional manufacturing and towards: light assembly, warehouse distribution, and general services. The strong industries in Mississauga are: pharmaceuticals, electronics, computer, chemical and transportation parts and equipment industries.
Greater Toronto Area WEST – including Brampton, Burlington, Milton, Mississauga and Oakville has total inventory of industrial space at about 300 million sq ft.
To rent or lease in Missisauga?
Mississauga industrial space has about 153 million sq ft. of total inventory. The average lease rate is $5.50 per sq. ft. and the average sale price is $94 per sq. ft., with a vacancy rate of around 6%. Demand from end users remains strong and we can expect construction progress in the Mississauga’s market. Logistics – the distribution sector provides for the majority of demand for large blocks of space, while there is a slowdown in the demand for industrial space from the manufacturing sector.
There are 27 proposed projects in Mississauga that could add additional 2.2million sq. ft. to the industrial space inventory in Mississauga.
Mississauga industrial lease rates remain stable with current net rent ranging from $5.50 to $6.75 per sq.ft for new space and $4.25 to $5.95 per sq.ft in the existing facilities, plus varying TMI rates.
The different types of warehouses include:
- Industrial and warehouse space – for distribution, storage, delivery receiving and shipping space.
- Refrigerated warehouses—preserve the quality of perishable goods and general supply materials that require refrigeration. Includes freeze and chill space, processing facilities, and mechanical areas.
- Controlled humidity (CH) warehouses—similar to general warehouses except that they are constructed with vapor barriers and contain humidity control equipment to maintain humidity at desired levels.
While every business is different there are a few common factors that should be taken into consideration when evaluating whether you are you interested in leasing or buying a space in Mississauga.
Looking for industrial real estate in Mississauga?
Contact me today.
Allen Mayer, Broker
Direct Line: 416-918-7979