GTA West Office & Industrial Market – Oakville

GTA West Office & Industrial Market – Oakville

By: Alexander Silver

This is 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 4 transactions (1 industrial, 1 Office & 2 Residential Land) in Oakville. This is a value of $14,200,000. This is down approximately 11% in dollar value compared to October 2019 where there were 3 transactions (1 Industrial, 1 Office and 1 Res Land) for a total value of $15,889,000.

On November 23, the Town of Oakville put forth a Town initiated Official Plan Amendment for the North West Area and Palermo Village (excluding the Hospital District). This is all part of the North Oakville West Secondary Plan. Essentially it incorporates new policies for that area; add lands to the Livable Oakville Plan and an expanded Palermo Village growth area.

Each week we will highlight a different city in the GTA West – Next is Burlington.
If you have a Property in this area, Contact me to learn more about how we can position your Asset in this Market.

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Emerging Trends in Real Estate

PriceWaterhouse Coopers and the United Land Institute recently released their emerging trends in Real Estate for 2021. A wide range of industry experts were surveyed and here are some key takeaways:

• Niche Sectors and assets, are very important to create income and differentiate yourself; For example: Single Family Rental Housing, Life Sciences, Self Storage
• Supply is the key to alleviating housing concerns; interviewees universally agreed about the municipal timeline for development approvals to be sped up to create more Supply. Technology may be able to help this process.
• Concern that government will turn to Real Estate to address the massive deficits. An increase in levies may exacerbate the supply gap, worsen affordability, and may hold back urban growth.
• There will be a growing focus on Environmental, social and governance factors. Ex. Health / safety ratings in buildings.
• Proptech Landscape will open new Possibilities. Video conferencing to cloud technologies; Virtual Tours; Tools to manage costs and efficiencies; Construction technology; Cyber technology and more.
• Property Type Outlook:
  • Industrial – this segment has remained resilient and will continue to thrive, in large part due to demand from e-commerce
  • Office – physical distancing will mean future offices need more space
  • Retail – structural shift toward E-commerce. Long term, Malls may convert to residential / mixed use Properties.
  • Rental Market – will eventually benefit from a slowdown in home ownership and when borders open up again, a back log of new immigrants.

  Contact me to learn and discuss more about the Full PWC Report.

SOLD

233 Robinson St
» Sale Date: September 30, 2020
» Price: $3,300,000
» Building Size: 12,195 sq ft
» Price Per Sq.Ft.:$271
Industrial Property

SOLD

2902 – 2904 South Sheridan Way, Oakville
» Sale Date: October 15, 2020
» Price: $5,800,000
» Building Size: 20,800 sq ft
» Price Per Sq.Ft.: $279
Office Property

SOLD

2902 – 2904 South Sheridan Way, Oakville
» Sale Date: October 15, 2020
» Price: $5,800,000
» Building Size: 20,800 sq ft
» Price Per Sq.Ft.: $279
Office 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