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Colliers National Investment Services Completes Milestone $461M Industrial Transaction In The GTA

kingsett

Colliers National Investment Services on behalf of Park Property Management completed the 21-property portfolio transaction to KingSett Capital.

One of the largest transactions in Colliers’ history was completed this past May 2022, when Colliers National Investment Services, on behalf of Park Property Management, completed the sale of a significant 21-property industrial portfolio in the Greater Toronto Area (GTA) to KingSett Capital for $461 million.

The portfolio sale is the largest industrial transaction in Colliers Canada history. Industrial offerings of this quality and size are rarely offered for sale due to the concentrated ownership of industrial properties in the GTA.

Location as a key selling factor

Colliers’ agents Victor Cotic, Nick Stathers, Stewart Metcalfe, Max Brenzel and Gord Cook represented Park Property Management to arrange for the offering and sale of the portfolio, which totals nearly 1.5M SF of rentable area in the strongest performing submarkets in the GTA: Mississauga; Toronto (Etobicoke); and Oakville. Seventeen of the Properties are located within a close cluster in Mississauga, near the intersection of Highways 401 and Highways 410/403.  

“In my opinion, that’s the best location for an industrial property in Canada,” noted Victor Cotic, Executive Vice President, National Investment Services, in a recent interview with RENX. “You’re very close to the airport and you’re very close to those highways that are the north-south and east-west arteries of the city.”

Due to their location, individual building sizes, high replacement costs and appeal to industrial occupiers and tenants, the properties were highly coveted by institutional and REIT investors.  The Colliers agents successfully navigated the sale through multiple rounds of bidding.

Strong fundamentals of GTA industrial market

Despite shifting macro-economic factors, this transaction is evidence of the continued strength of the GTA industrial market.  While an availability rate of 4 to 5 per cent would constitute a “balanced” industrial market, as of Q2 2022, the availability rate of the GTA industrial reached a new historic low of 0.6 per cent, and average net asking rents reached $15.34 PSF (a 35% year over year increase).  The lack of availability and upward pressure on rents for GTA industrial properties was a key selling feature emphasized by the Colliers team in the sale of this portfolio.  In his interview with RENX, Victor explained that the GTA market is anticipated to remain a landlord’s market for the foreseeable future.

“Over the past five years, our average rents have gone up around 20 per cent year-over-year. The same thing has been happening with the average sale price. It’s very hard to find investment vehicles that give you those types of returns or year-over-year growth. Because of supply and demand imbalance, I don’t see that changing. I think we’re still on an upward trajectory.”

Experts choose to work collaboratively with experts

The Colliers agents worked alongside the Strategy & Pursuit team, along with members from the Marketing Studio, in a collaborative effort to bring the 21-property portfolio to the market with marketing assets that included Property Marketing Video, Brochure, a detailed Confidential Information Memorandum (CIM), email campaigns and a social media outreach program.

Congratulations to all Colliers team members and our clients, on the successful closing of this milestone transaction in the company’s history.



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For More Information, Please Contact:

Victor Cotic

Executive Vice President, Sales Representative | National Investment Services

Toronto West

Victor is a senior member of the National Investment Services division specializing in the disposition and acquisition of industrial properties, grocery/pharma anchored retail plazas and suburban office buildings.   Primarily focused on the Greater Toronto Area and Southwestern Ontario, Victor has successfully completed individual property and portfolio transactions across Canada serving a wide range of institutional, REIT and private investor clients.    

Victor has over 15 years of investment brokerage experience and is consistently one of the top performing investment advisors nationally.   Within the past 10 years alone, Victor has been involved in the sale of over $2.5 billion worth of investment properties.

Victor provides his clients with an advisory approach grounded in strategy, superior market knowledge and thorough analysis. His extensive experience in a variety of asset classes, transaction sizes, geographic markets, and disposition strategies ranging from formal bids to discreet “off-market” sales, ensures that transactions are executed in a manner that is timely and efficient while minimizing risks and maximizing sale values.  Victor's strong connectivity to the investment market allows him to quickly identify qualified investors for any investment property.

Prior to joining Colliers, Victor worked in the real estate acquisitions division of a major Canadian pension fund.

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Nick Stathers

Sales Representative

Toronto West

Nick is a Sales Representative with Colliers focusing on industrial property sale transactions in the GTA.

Industrial & land brokerage, both landlord & tenant representation, are the core of the Nick's expertise. Providing innovative real estate solutions, as well as integrated support services to businesses & landlords, including but not limited to primary & secondary business development; property repositioning & marketing; industrial brokerage; building & land sales; space needs analysis; area calculation exercises; lease audits; alternative options surveys & assessments; market analysis; financial modelling; & head lease, sublease & lease renewal/extension negotiations.

Possessing comprehensive experience in the commercial real estate & brokerage industry in his young career, in part through his involvement working directly with a top producing team for Colliers  in the GTA, Nick is committed to providing his clients with unparalleled customer service; securing the highest price & most favourable transaction terms for his clients; utilizing his expertise in & knowledge of the market; as well as  coordinating real estate & workplace strategies with long-term business goals to add value to the client's firm in terms of time & financial savings, in addition to mitigating overall risk.

Nick is a 2021 MBA graduate with a specialization in finance from the DeGroote School of Business at McMaster University & Bachelor of Commerce graduate from the Ted Rogers School of Management at Ryerson University, with a major in Real Estate Management. While enrolled in his undergraduate program, Nick held three summer internships with Dream Unlimited in various roles throughout the company, the final shadowing a Director of Office Leasing with a portfolio in the GTA. This provided Nick with a thorough understanding of the Landlord side of the real estate equation, to complement his experience with tenant representation.

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Stewart Metcalfe

Executive Vice President, Sales Representative

Toronto West

Stewart joined Colliers International in 1998. Stewart’s proactive approach to the business allowed him to quickly secure himself a reputation as an expert in the Industrial Sales and Leasing Division, focusing on Design/Build transactions, sales and leasing of industrial buildings and land sales. Recognizing the food facility sector was unserviced by an expert, Stewart and his partner started a specialized division within Colliers, the Food Facilities Group. In the past five years they have created a North American wide group of food facility teams in 14 major markets across North America.


Colliers Food Facilites Group specializes in • Temperatured Controlled Distribution Centres • Food Processing Facilities (CFIA/HACCP) • Beverage Plants • Bakeries • Dry Mix & Blending Facilities • Organic and Kosher • Energy Incentive Research • Site Selection for existing facilities and design-build


Noteworthy Food Trade Shows/Conferences Attended • SIAL • Grocery Innovations • Food and Beverage Show • HACCP Advantage • Bakery Showcase • IARW • Ethnic and Specialty Foods

 

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Max Brenzel

Senior Associate, Sales Representative | National Investment Services

Toronto West

Notable Transactions 

Sale - 946 Warden Ave, Scarborough - 72,722  SF (Firm)

Sale - 2150-2180 Dunwin Dr, Mississauga, 75,900 SF on 5.719 Acres - March 2022

Sale - Newbold Business Park, London - 365,093 SF - October 2021 

Sale - 21 - 35 Van Kirk Drive, Brampton - 70,923 SF on 5.61 Acres - October 2021

Sale - 2960 Markham Road, Scarborough - 4.23 Acres  - August 2021  

Sale - 545 Keele Street, Toronto - 6,950 SF - August 2021 

Sale - 20 Bermondsey Road, Toronto - 31,601 SF - July 2021

Sale - 115 Howden Road, Scarborough - 11,426 SF - June 2021 

Sale - Silver Star Blvd & Kilcullen Castle Gate, Scarborough - 2.7 Acres - March 2021

Sale - 530 Rowntree Dairy Road, Vaughan - 27,546 SF - December 2020 

Sale - 72 Carnforth Road, North York  - 48,721 SF - August 2020

 

 

 

 

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Gord Cook

Executive Vice President, Sales Representative

Toronto West

Over the course of Gord Cook’s unprecedented, 34-year career at Colliers International as Executive Vice President, he has managed a significant number of large, complex real estate assignments.  In particular, Gord specializes in four specific disciplines:  industrial leasing, industrial investments , multi-family apartment investments, and in-fill redevelopment opportunities. While these four silos vary, one thing remains constant – Gord’s ability to deliver outstanding results, on behalf of his clients at local and national levels. Impressively, he proves to be a top 5 national producer year after year.

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