GTA West Office & Industrial Market – Burlington

GTA West Office & Industrial Market – Burlington

By: Alexander Silver

Welcome to the 77th Installment of the GTA West Commercial Newsletter!

This designed to bring you local relevant information about what’s happening
in the office and industrial property market.

In October 2020 there was a total of 5 transactions (2 industrial, 2 Office
& 1 ICI Land) in Burlington. This is a value of $23,424,900. This is down
approximately 51% in dollar value compared to October 2019 where there
were 9 transactions (5 Industrial, 2 office & 2 Res land) for a total value of
$47,835,458.

There are currently 69 City of Burlington ongoing Roadway projects. These
City projects range from a bridge widening at Waterdown Road & 403 to
road resurfacing on Mainway (Burloak Dr to Walkers Line). These projects
are often completed with Property owners in the area benefitting from
improved city infrastructure, efficiencies and potentially increased densities.

These City of Burlington projects as well as zoning / official plan changes
can impact the value of your Property.

Status of New Official Plan in Burlinton

• On Thursday, Nov. 26, 2020, City Council endorsed the Halton Region
  Draft Notice of Decision regarding the adopted Burlington Official Plan
  (2018).
• On Friday, Nov. 27, 2020, the City notified Halton Region of City Council’s
  endorsement of the Draft Notice of Decision and requested that the Region
  release the final Notice of Decision.
• On Monday Nov. 30, 2020, Halton Region issued a final Notice of Decision
  approving the new Burlington Official Plan, and a twenty-day appeal period
  began.

Each week we will highlight a different city in the GTA West – Next is
Etobicoke.
Contact me to learn more about the Burlington Market and how we can
Market your Asset.

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Emerging Trends in Real Estate

Development charges are fees collected by municipalities, under
authority of the Development Charges Act, to offset capital costs for
growth-related infrastructure.

*Toronto – Ground Floor Only

*Contact me to learn about additional regions.

HIGHLIGHTED TRANSACTIONS

SOLD

5530 Harvester Rd., Burlington
» Sale Date: October 28, 2020
» Price: $5,450,000
» Building Size: 24,000 SF
» Price Per Sq.Ft.: $227
Industrial Property

SOLD

4311 Mainway, Burlington
» Sale Date: November 2, 2020
» Price: $11,250,000
» Building Size: 60,043 SF
» Price Per Sq.Ft.: $187
Industrial Property

SOLD

750 Appleby Line, Burlington
» Sale Date: November 25, 2020

» Price: $20,000,000
» Building Size: 137,764 SF
» Price Per Sq.Ft.: $145
Industrial Property

Highlighted Proposed Development Sites

For more information contact

Alexander Silver
Sales Representative

T: +1 289 266 1003
M: +1 905 334 9417
alexander.silver@colliers.com