Industrial spaces in the Greater Toronto Area are extremely valuable. They offer space for retailers and businesses to store, manufacture, assemble, distribute, or work with their products. Space also offers an area to conduct regular meetings. Not all industrial spaces are created the same and will draw in business and value, respectively.
What kind of spaces are there?
When it comes to industrial property size, shape and build, there are a few common types that attract different buyers or leasers.
Type: Bulk warehouses
Description: these are typical warehouses with little office space, a loading dock and high ceiling storage space. A warehouse that allows trucks easy access will be more sought after as it is easier to move products. International businesses may look for warehouses with close proximity to highways or airports so they can reduce fuel costs.
Ideal Buyer: Bulk warehouses are ideal for pretty much every business that sells products or stores inventory.
Type: Manufacturing warehouse
Description: Manufacturing warehouses are specialized building types designed with the idea of manufacturers in mind and equipped with walls, flooring, and amenities like gas lines and ventilation systems.
Ideal Buyer: You will typically see packaging or specialty manufacturing businesses interested in these kinds of industrial spaces.
Type: Cold storage building
Description: A temperature-regulated building equipped with a number of or one large fridge or freezer. These can be very similar to regular warehouses, except they have the added amenity of cold storage.
Ideal Buyer: Many times, food or medical businesses will be interested in a cold storage building. That is because a typical warehouse is not ideal for products that need to be kept refrigerated or frozen.
Type: Data centres
Description: A warehouse that accommodates large amounts of technology. These buildings are essential to business functioning and need to be located around a very reliable power source. These data centre buildings must be secure and reliable because if not, both business and customer privacy and satisfaction will be compromised.
Ideal Buyer: Any company that has a large online presence or a lot of continuous digital action.
Type: Large open lots
Description: these are large open lots usually located in industrial areas. These lots can become home to all different kinds of raw materials like gravel, stone, wood, brick, or metal. Some lots include outdoor storage spaces like tents or weatherproof storage.
Ideal Buyer: Landscaping companies, developers, and construction companies may be interested in a large open lot property.
Regardless of which kind of property you have in the GTA, it is extremely valuable. You can speak with a real estate agent about your selling or leasing options and gain professional insight into market trends.
For any real estate transaction, it is best to have a knowledgeable professional by your side. Connect with Allen Mayer, a real estate agent with over 25 years of experience specializing in commercial and industrial real estate.