- What Three industrial condos are available for purchase within a Scarborough complex
- Why The units are considered ideal for warehousing and light manufacturing
- What next Industrial condos increasingly are valued as an alternative to older small-bay properties
Beedie is looking to offload three industrial condominiums in a new Scarborough, Ont., business complex for $17m.
The Burnaby, B.C.-based developer is seeking $510/sq ft for two of the 11,000 sq ft units and $525/sq ft for the third. The condos are available for purchase together or separately.
Cushman & Wakefield has the marketing assignment. The sales campaign describes the properties as ideal for warehousing and distribution as well as light assembly.
The units are within the 88,000 sq ft Building 3, comprising nine units, in the Morningside Business Centre. The three-building, 293,000 sq ft development, at 2340 Morningside Avenue, opened in 2022.
Each of the units has a walk-up second floor and two loading docks with a clearance height of 28 feet. They are equipped with LED lighting and modern sprinkler systems.
The units are 4 km from the nearest Highway 401 on-ramp. A nearby TTC stop for the 116 Morningside bus route connects to the Kennedy subway station.
While relatively new to the GTA, industrial condos have grown in popularity out west, particularly in British Columbia, where land costs and physical boundaries historically have constrained large-scale industrial development.
They are seen as possible solutions to the scarcity of new, small-bay industrial options available within the GTA due to their modern amenities and design standards.
Beedie has completed over 40 industrial condo developments nationally, primarily in Western Canada.
