Vaughan Industrial Real Estate
The City of Vaughan is bounded by Caledon and Brampton to the west, King and Richmond Hill to the north, Markham to the east, and Toronto to the south.
Vaughan is one of southern Ontario’s fastest growing cities. According to Statistics Canada, the population grew 37.3% in a mere four year period (more than 9.3% annually), and also has a young age profile than the Canadian average as 22.3 percent is under the age of 14, while those over 65 constitute 8.15%, one of the lowest in Ontario resulting in an average age of 34.1.
Landscape in Vaughan
Industrial and commercial activity in Vaughan is continually growing.
Vaughan provides easy access a to the City of Toronto via 400 series highways. Although business completions are spread throughout the city, it is interesting to note that development has started to occur in the western section of the Vaughan Enterprise Zone, with the construction of the Conair and Campio Furniture facilities.
Vaughan’s competitive business costs and strategic location continues to attract national and international headquarters, such as: ASSA Abloy, Conair Consumer Products, Magick Woods, Mobile Climate Control and VokeTel.
Vaughan hotel development was the strongest ever in 2006 with the opening of two new properties, Vaughan Monte Carlo Inn and Vaughan Hilton Garden Inn. The new properties added 260 rooms to the City of Vaughan‘s supply. Demands for hotel rooms have been strong and plans are already underway to expand the Monte Carlo Inn property. Interest for new hotel sites also remains strong. Two long-standing properties, the Vaughan Dodge Suites Hotel and Vaughan Super 8 Motel, also changed ownership.
New commercial real estate properties in Vaughan and industrial properties activity totaled $299 million in the last year alone.
Vaughan Construction Value of Issued Permits in the last year:
- Industrial – $178.8 millions
- Commercial – $119.9 millions
Vaughan Industrial and Commercial Land Absorption in the last year:
- Industrial – 64 hectares
- Commercial – 28 hectares
Vaughan Type of Construction by Total Value in the last year:
- Industrial – 14%
- Commercial – 9%
Vaughan Industrial Space or Vaughan Warehouse Space Inventory & Vacancy Rates in the last year:
- Total Inventory (sq.ft.) – 60,366,447
- Vacancy Rate – 6.5%
- Annual Rental Rate/sq.ft. – $5.90
- Sales Price/sq.ft. – $93
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