Article
Beedie Chooses Toronto to Expand its Industrial Condo Portfolio
April 29, 2025 3 Minute Read
The word condo typically conjures up images of soaring residential towers dotting dense downtown neighbourhoods. But a lesser-known type of condo has been gaining popularity in the Greater Toronto Area (GTA): industrial condos.
Industrial condos – a longtime staple of Canada’s West Coast industrial markets, where they’re known as strata projects – are individual units within larger industrial developments that can be purchased and owned rather than leased. They are well-suited for businesses needing modern smaller spaces for warehousing, manufacturing or storage.
“Industrial condo developments work well in tight supply markets because there’s limited space to build small freestanding buildings and land has become very expensive,” explains CBRE Vice Chairman Fraser McKenna. “They also fill a void in the market because historically, small industrial spaces were generally only available for lease. Condos make it possible for businesses to own smaller spaces.”
McKenna and his colleagues Jeff Hord, Kylie Rajic and Joseph Cattana are working with Beedie, a West Coast residential and commercial developer, to sell industrial condo units at BOLT, which is its new development in Bolton, ON. The project is slated for completion in the second quarter of 2025. “Beedie is the dominant industrial condo developer on the West Coast,” says Hord. “Now they’re looking to expand their industrial condo portfolio in Ontario and we’re excited to be supporting them.”
Beedie Goes East
McKenna and his team had previously secured the BOLT development site for Beedie via an off-market land opportunity in Bolton and underwrote the purchase of the site. Beedie subsequently retained the team to broker the sale of the industrial condo units.
While Beedie has been building industrial projects in the GTA since 2019, BOLT is the first fully self-performed development completed by its in-house construction team, Beedie Construction, instead of outsourcing the developer. The units are designed to maximize functionality and minimize the need for improvements once the buyer moves in. Beedie delivers units with full electrification, HVAC systems, wheelchair accessible washrooms, fire-rated enclosures and vestibules and LED lighting, enabling quick and seamless move-ins and enhancing the property's value.
“This is a testament to the time and care they’re investing in this project,” McKenna says. “There are no shortcuts with Beedie; the construction is robust and durable.”
Nuts and BOLTs
Although the industrial condo market remains in its infancy in the GTA, it has become increasingly competitive. Only a handful of developers were initially active in this space but more entered the fray as the industrial market witnessed record demand during the pandemic. High interest rates and economic uncertainty resulted in a shift of the market dynamics, but the ownership model has proven to be resilient across varying economic cycles.
BOLT has seven units with 36-foot clear height ceilings, considerably higher than the 28-foot clear spaces that are typical. “Why go for a building with a low ceiling when you can fit more product in the same square footage?” says Hord. “Clients get more bang for their buck with this modern layout, achieving efficiencies you can’t get from older generation product.”
Beedie’s units are larger than typical industrial condos, filling a gap in the GTA market. Instead of constructing 3,000 sq. ft. to 5,000 sq. ft. units, BOLT’s condos start at 14,000 sq. ft., providing mid-sized solutions for occupiers. The units are built to facilitate modern shipping requirements, with improved spacing around dock level and drive-in doors that can accommodate 53-foot trailers.
“BOLT represents a rare flight to quality opportunity for GTA industrial users,” says McKenna. “Buyers who value high-quality construction and having greater storage capacity will thrive here.
“Buyers can control their future and do it with some of the best mid-sized product on the market.”
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Fraser McKenna and his team are working with Beedie, a West Coast residential and commercial developer, to sell industrial condo units at BOLT, its new development in Bolton, ON.
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