Article
CBRE Launches Sale of Pacific Industrial Condos in Toronto
January 26, 2026 4 Minute Read
Forager is gearing up to commence construction on Pacific Industrial Condos, a Class-A complex in one of Toronto's most in-demand industrial nodes.
The 141,852 sq. ft. project is located at Milliken Blvd and McNicoll Ave., just east of Highway 404 and south of Steeles Ave. Slated for occupancy in 2027, Pacific Industrial Condos will have 16 small-bay units ranging from 7,455 sq. ft. to 9,622 sq. ft., with both truck-level and drive-in doors to maximize functionality. Each unit boasts 28’ clear height ceilings.
The units will bring much needed availability to the desirable but land-constrained node.
CBRE’s Marc Oliver, Robert Ironside, Tyrone Murray and Camila Greene are assisting Forager, a Toronto-based private equity real estate developer, with the sale of units at Pacific Industrial Condos. “We’re targeting business owners looking to secure their future or investors seeking rental income and long-term capital appreciation,” Oliver says.
“Owning your own industrial unit eliminates leasing risk including rent increases and business disruption,” adds Ironside. “And owners can take advantage of attractive borrowing terms, secured with an assist from CBRE Capital (Canada) Inc.’s debt experts, and realize tax efficiencies through depreciation and deduction of interest and other mortgage-related expenses.”
Lack of Small-Bay Product
CBRE first worked with Forager over the last couple of years to sell out its previous industrial condo project, VicPark, a 148,888 sq. ft. urban warehousing and logistics facility.
“We identified the gap in the market for this type of small-bay product,” Oliver explains. “Because if you look in any of Toronto’s industrial nodes – Scarborough, Etobicoke, Leaside, East York – most of the small-bay product dates back to the 1960s, with 12-14’ clear heights. It’s all old and largely obsolete.”
“So we knew that there was a big but underserved market out there for new industrial condos, and we were fulfilling that need with VicPark,” he adds. “The option for business owners at that point was to either lease older product in the small-bay size range or buy a near-obsolete building from 50 years ago.”
Murray notes that Pacific Industrial Condos is the one of the few projects of its kind under construction east of Highway 400. “In terms of Toronto core there are limited industrial condo projects that fill the need in this size range and quality. If you’re looking for a new Class A, 10,000 sq. ft. unit in this market you either buy it or you’re not going to find it."
Power Play
Pacific Industrial Condo units won’t simply be empty shells. Each will have its own rooftop HVAC system, built-out washrooms and skylights, and up to 400 amps of power. And the project enjoys a central location, close to Pacific Mall and Highways 404, 401 and 407. The complex is also near to a GO Transit station at Milliken and will be serviced by 24-hour TTC bus.
“The industrial condo market is busier than when we worked on VicPark a few years ago,” says Greene. “So it was important to differentiate Pacific Industrial from the others. That’s where the power and location come into play. We have best location and power that’s not typically seen in small units.
“The features offered here are almost nonexistent in the market right now."
Opening Doors
A bonus for prospective buyers at Pacific Industrial is that CBRE’s debt team is available to help them access financing and the ideal terms to get deals across the goal line.
“It’s our competitive advantage,” says Oliver, noting that industrial condo purchaser can also avail themselves of CBRE’s other platform services, including its project management team for guidance on buildout and construction costs.
“We’re essentially a one-stop shop and can work with buyers from start to finish. It’s a value add that is largely unmatched,” Ironside says. “Our message to agents who have buyers is bring them here and we’ll be your support system to make sure we’re all successful with Pacific Industrial Condos.”
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