- What Two industrial condominiums under construction in Milton are available for sale
- Why Sellers Kolt Investments and Canadian Mortgage Capital Corp. are seeking $519/sq ft
- What next The units are expected to be available for occupancy in 2026
Two small-bay industrial condominiums under construction in Milton, Ont., are on the block for $13.2m, Green Street News can reveal.
The seller is a joint venture between Kolt Investments and Canadian Mortgage Capital Corp. The condos total 25,000 sq ft, and the valuation works out to $519/sq ft. They can be purchased together or separately for $6.7m. Kolt Realty, Kolt Investments’ brokerage arm, has the marketing assignment.
The project is part of the Milton Gates industrial development being built by Kolt and CMCC. The partners in 2022 bought 19 acres in the 2,000-acre Derry Green Business Park, at 11801 Derry Road West, for the Milton Gates development, according to RENX.
The project broke ground last year. Once completed, Milton Gates is slated to comprise 61 industrial condos across four buildings totaling 429,000 sq ft. The units are expected to be available for occupancy in 2026.
The offered units, Nos. 26 and 27, are in building C, which totals 114,000 sq ft and has nine planned industrial condos averaging 12,000 sq ft. The building will have three shipping doors – two for truck loading and one with drive-in access – with a maximum clear height of 28 ft. It could be used for logistical or recreational operations such as a banquet hall. Other permitted commercial uses include storage and automotive repair.
There are 495 outdoor parking spaces planned across the Milton Gates complex, at the intersection of Derry Road and Sixth Line. Mississauga is 15 km away, while Toronto Pearson International Airport is 21 km away.
Kolt Investments is marketing 1.6m sq ft of industrial condo units in the GTA valued at $600m, according to marketing materials.
CMCC, meanwhile, operates five private real estate funds focused on commercial and residential property investment in metropolitan areas of Ontario and British Columbia. Its investment portfolio includes approximately 1.3m sq ft of industrial space.
