Moving to Better Service the Industrial Real Estate Sector
Dear Clients and Friends,
With great excitement I would like to announce we have moved our office.
There may be a few questions asking why we have moved and though there could be many reasons, the most important reason is very simple. The majority of the business we do is industrial real estate leasing and sales. Though we happily look for commercial, office, medical, and institutional real estate opportunities across all of Niagara’s municipalities, it just makes most sense for us to locate within the bulk of the business we move which is industrial. Our new office is located at 325 Welland Avenue, Unit 220 in St. Catharines. For those not familiar with the building it is industrial and is very close to the QEW. This allows us quick access to the highway to service other municipalities throughout the region as well as making it easier to service the bulk of buildings we see most frequently in our daily activities.
For those who haven’t heard the good news, industrial is hot again! It was never terrible to begin with but it certainly saw its slow times during the last recession with rental rates holding or dropping slightly. Starting in the new year we received an influx of industrial activity in our market place. Many are under the impression industrial is dead but it wasn’t and it certainly isn’t now. Since January we have leased and sold the majority of our industrial listings which we will be producing a report shortly after we get settled in our new space. So that’s the good news… the bad news is we need more industrial space to fill and are happy to discuss opportunities and services with anyone interested. Seriously, there isn’t enough supply for the coming demand.
Many of you may be wondering how this is possible with all the doom and gloom you hear about industrial businesses in Niagara. While there are certain types of industrial businesses that haven’t been doing well or have closed up, there are more types of industrial businesses that are thriving quietly. There are some companies that have been around for a while but many are also starting up, and even some moving or expanding here from outside of Niagara. Most of these businesses are warehouse/distribution, wholesalers, advanced manufacturing, metal fabrication, and machine shops.
Other topics I will also be addressing shortly are:
Downtown has improved significantly but still has a long way to go.
Office is doing poorly and vacancy seems increase every year. This is especially true for office towers.
Commercial is holding its own. We aren’t expecting an improvement or decline at the moment.
Industrial demand for modern/quality space increases but supply lacks.