- What Five planned industrial condo units in Brampton have sold
- Why The units are part of the 336,000 sq ft Dixie Inspire development
- What next The project is targeting occupancy in August
Five units belonging to an under-construction industrial condominium development in Brampton have sold for $12.5m, Green Street News can reveal.
Sold to individual private buyers, the units — cumulatively 20,000 sq ft — were priced at a valuation of $620/sq ft and are 4,000 sq ft each. The most recent sale took place in March, while the remaining deals are said to have completed in January and February.
The units are part of the Dixie Inspire industrial condo development. Citi Brokers Realty, a Mississauga-based boutique brokerage, had the marketing assignment.
The 336,000 sq ft Dixie Inspire project comprises 92 industrial condo units across six buildings. The development, on a 19-acre, square-shaped parcel in northwest Brampton, is bounded by Ace Drive, Dixie Road, Inspire Boulevard and Tasker Road.
All units are zoned for both industrial and retail uses and have a 28 ft maximum clearance height. The entire development will have 94 shipping doors with drive-in access as well as 500 outdoor parking spaces.
Dixie Inspire broke ground in late summer 2024 and is expected to be ready for initial occupation starting this August. It’s estimated that 60 units have sold since listings first went out in early 2024.
GTA-based developer Berkshire Axis is delivering the project on behalf of landowner Fiera Real Estate, a division of the Canadian asset management giant Fiera Capital Corp.
The site is less than a kilometre from Highway 410, via Mayfield Road. Toronto Pearson International Airport is 15 km away.
It also is in the vicinity of the proposed Highway 413. If constructed, the new provincial highway would connect Brampton’s northwest edge with Vaughan and other Greater Toronto Area municipalities.
More industrial condo developments are popping up throughout the GTA of late, with investors and tenants alike valuing such properties for their potential income generation as well as the ability to accommodate a variety of flex industrial uses. Their burgeoning popularity has played a role in the sharp rise in pricing for the region’s small-bay industrial properties, which increasingly have been converted to industrial condos.
According to brokerage Lee & Associates, 84,000 sq ft of industrial condo space was sold in Brampton last year, with an average sale price of $516/sq ft.
Fiera Real Estate recently appointed Quinntin Fong in Toronto to head its open-ended industrial real estate fund, valued at over $1bn in domestic assets. Fiera Capital has over $155bn in global assets under management.
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