A few weeks after a TELUS-leased facility was listed for sale, another property fully leased to Tesla has entered the GTA industrial market, according to a new listing that just appeared.
This property is located at 95 Clegg Road in Markham, offering access to Highway 7 to the north, Highway 404 to the west, and Highway 407 to the south, connecting it with other parts of the Greater Toronto Area.
Local amenities include Downtown Markham, Unionville GO Station, and CF Markville shopping centre.
The facility at 95 Clegg Road is owned by Pure Industrial – a REIT that went private in 2018 through American investment firm Blackstone and Quebec pension fund Caisse de dépôt et placement du Québec (now known as La Caisse) – via PIRET (95 Clegg Road) Holdings Inc.
Built in 1998 with sturdy precast concrete walls, this building occupies a 5.33-acre site, covers 110,236 sq. ft., and features six dock-level loading doors along with 112 parking spaces.
This facility is entirely leased by Tesla, the electric vehicle manufacturer led by Elon Musk, using it as a battery manufacturing site. The listing team notes that Tesla’s lease operates on a net lease basis with annual increases and a strong likelihood of renewal since Tesla has made investments in the property.
95 Clegg Road in Markham, Ontario. (Colliers)
The Listing
Earlier this month, Max Brenzel, Victor Cotic, Gord Cook, and Farabe Wahab from Colliers listed 95 Clegg Road for sale without an asking price.
Address: 95 Clegg Road, Markham Year Built: 1998Site Area: 5.33 acres Gross Leasable Area: 110,236 sq. ft. Current Occupancy Rate: 100%Price: Unpriced Listed By: Colliers (Max Brenzel, Victor Cotic, Gord Cook, and Farabe Wahab)
“Tesla has invested significant capital into the facility, including substantial electrical and mechanical infrastructure (including a power upgrade to 3000 Amps), warehouse racking systems, security and technology enhancements, employee amenities and other operational improvements that have enhanced the functionality and efficiency of the Property,” said Colliers in its sales brochure.
95 Clegg Road (centre) in Markham, Ontario. (Colliers)
“Tesla’s considerable investment in the facility demonstrates a strong commitment to the location supporting near-term tenancy stability while the quality of the improvements enhances overall appeal and utility of the facility for both current and future users,” they added. “Investors are afforded the opportunity to acquire a premier institutional-quality industrial asset generating stable cash flow with compelling long-term renewal prospects.”
Colliers also describes this area as “one of Markham’s most established and sought-after industrial corridors; a market highly regarded by both occupiers and investors due to its exceptional connectivity , strong labour pool , and proximity to key amenities.”
Additionally , Colliers mentions that Markham stands out as one of the strongest-performing industrial submarkets within the GTA , characterized by robust tenant demand , premium rental rates , and limited availability.
This combination of accessibility , market fundamentals , and surrounding amenities positions 95 Clegg Road as an attractive industrial location within the GTA.
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