Allen Mayer Salesperson Vice PresidentCommercial Real Estate in North York
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Pre 1922: North York area is part of York Township within York County
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July 18, 1922: The Township of North York is created
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April 15, 1953: North York becomes one of 13 municipalities in the new Municipality of Metropolitan Toronto
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January 1, 1967: North York is renamed a borough
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February 14, 1979: North York is incorporated as a city
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January 1, 1998: North York ceases to be an individual municipality and becomes part of the amalgamated City of Toronto
North York forms the central part of the northern half of Toronto, Ontario, Canada. It has a population of around 650,000. Until 1998, it was the second-largest of six municipalities that comprised another larger municipal structure called Metropolitan Toronto.
World-renowned corporations have built their own office towers along Yonge Street in central North York, including the Canadian head offices of Procter & Gamble, Nestlé Cadbury Adams, Lindt, Equifax, and Xerox. McDonald's of Canada is also located in North York, although not along this corridor.
Major shopping malls in North York include the Yorkdale Shopping Centre and Fairview Mall. Smaller locations include Don Mills Centre, Centrepoint Mall, Bayview Village, Yorkgate Mall, Jane Finch Mall and Sheppard Centre. North York is also home to both campuses of York University and Osgoode Hall Law School.
Major health-care facilities, such as North York General Hospital, Humber River Regional Hospital (Finch Avenue Site previously called York-Finch Hospital) and the massive Sunnybrook Hospital complex which includes a veterans' residence and regional trauma centre are located in North York.
A military base and aircraft manufacturing facility is located at Downsview
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In North York, leasing demand has softened recently, while purchase demand for quality assets remains strong.
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There is a high demand for small buildings in North York, while large buildings are remaining on the market longer. Rents are flat for all building categories.
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The entire node has felt a moderate impact from the rising dollar, which is forcing manufacturing businesses to downsize and make other adjustments.
Greater Toronto Area CENTRAL - including East York, Etobicoke, North York, Scarborough, Toronto and York has total inventory of industrial space at about 246 million sq ft.
North York industrial space has about 78 million sq ft. of total inventory. North York industrial space average rent rate is $4.79 and average sale price is $100 per sq ft. North York, Ontario, has a booming economy and a relatively low unemployment rate. Large single tenant facilities and portfolio sales are the most sought-after products in the current market. There is increased demand for newer, more efficiently outfitted spaces.
Commercial Xpress
Commercial Xpress is an enhanced Building Permit service for certain types of projects. Goal is to review eligible applications within 10 working days. Commercial Xpress projects include:
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Interior alterations to Assembly, Business, Industrial, Office and Retail uses:
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up to 300m2 in area
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no change of use
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no change in patron area for restaurants
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no increase in occupant load
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minor structural changes
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minor changes to life safety systems
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Tents
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Minor fire damage repair
North York District
North York Civic Centre
5100 Yonge Street
416-395-7000
Please contact Allen Mayer if you are considering selling, buying or leasing commercial or industrial space in North York Toronto.
