- What Gay Lea is selling its 40,000 sq ft Mississauga headquarters
- Why The dairy foods producer announced plans to relocate to Etobicoke
- What next Gay Lea is moving to the new space in summer 2025
Gay Lea Foods has listed an industrial and office building near the airport in Mississauga for $16.8m.
The farmer-owned dairy producer is asking $416/sq ft for 5200 Orbitor Drive, a 40,000 sq ft facility that has served as its corporate headquarters since the early 2000s. The building is also available to be leased. Colliers has the marketing assignment.
The nearly 40-year-old building has undergone significant renovations in recent years, including the full replacement of its roof three years ago. A building elevator shaft was replaced in 2021.
5200 Orbitor comprises 22,000 sq ft of office space across two floors and 18,000 sq ft of industrial space at the ground level, including a 124-foot vehicle loading area. There are three truck-loading doors, and the building has a maximum clear height of 18 feet. There are 63 parking spots on the property.
The building, on 2 acres, is 3 km from Toronto Pearson International Airport. The nearest onramp to Highway 401, at Carlingview Drive, is 2 km away.
Gay Lea announced plans last year to relocate to a 20,000 sq ft flex-office space at 10 Carlson Court in the northwest Toronto suburb of Etobicoke.
Recent industrial property deals in Mississauga include Mantella Corp.’s purchase in December of a 30,000 sq ft multi-unit building at 1200 Aimco Boulevard for $8.4m, or $280/sq ft.
Also in December, Delom Immobilier offloaded a 49,000 sq ft Class-B warehouse at 3350 American Drive for $18m, or $370/sq ft. Last September, Enticor Properties paid $52.5m for a 161,000 sq ft industrial building at 1575 South Gateway Road, with the valuation working out to $326/sq ft.
Mississauga industrial property sales averaged $412/sq ft in the final quarter of 2024, according to Avison Young. That’s far and above the GTA average of $362/sq ft as reported by the brokerage for the quarter.
