- What Over 12 acres of development land are up for grabs in Milton, Ont.
- Why The valuation works out to $1.6m/usable acre
- What next Colliers has the assignment
An industrial land parcel in southern Ontario is hoping to attract bids of $12.8m, Green Street News can reveal.
A private investor has given the assignment for 5484 Tremaine Road, in Milton, to Colliers. The site spans 12.5 acres, with 8 acres of usable land. The valuation works out to $1.6m/usable acre.
The parcel is within Milton’s Future Strategic Employment Area. The majority is zoned FD – future development, while a portion is zoned NH – natural heritage system.
Near the intersection of Britannia Road and Tremaine Road, the site is 500 m from the future Milton Logistics Hub, an intermodal facility being built by the Canadian National Railway Co.
5484 Tremaine Road is 5 km from Highway 407, 10 km from Highways 401 and 403, and 30 km from Toronto Pearson International Airport and John C. Munro Hamilton International Airport.
Part of Halton Region, Milton is 40 km west of Toronto. Milton had the highest industrial availability rate in the Greater Toronto Area in Q4 2024, at 15.1%, Colliers said in a recent report. The average for the region was 2.5%.
The average industrial sale price in Milton was $305.88/sq ft, while the weighted average asking net rent was $18.66/sq ft.
