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Hamilton Offers Corporate Workspace from Warehouses to Exposed Brick Offices

Hamilton Offers Corporate Workspace from Warehouses to Exposed Brick Offices

Hamilton Offers Corporate Workspace from Warehouses to Exposed Brick Offices
May 25
01:24 2018

Two exciting new developments in Hamilton highlight the transformation well underway in the Ambitious City, says CBRE Limited senior sales associate Kimberley Piper.

“There is no doubt Hamilton is more on the radar of the GTA. It used to be a market unto itself but now it’s seen as an extension to the GTA west. We see a lot of interest in Hamilton and it has land left to develop inventory, where much of the GTA does not,” said Kimberley, who along with Joe Merrett, is marketing the properties out of CBRE’s Toronto West office. The team covers Hamilton, Niagara and Brantford.

CBRE Limited is the Canadian operating division of CBRE Group, Inc., the world’s largest commercial real estate services and investment firm. It employs 1,885 people in 20 locations coast to coast in Canada.

Residential sales have driven the Hamilton real estate market for a long time, but there is now strong growth on the commercial side, too, says Piper.

“People came here to buy homes but they are realizing the commute to Toronto is not great. Their companies are figuring that if a lot of employees are living here, it’s worth a look. Businesses want to go where the talent is.”

A contemporary three-storey commercial development by prominent builder Losani Homes at 1266 South Service Rd. in Stoney Creek is now ready for occupancy. It offers prime exposure along Hamilton’s QEW gateway, lake view and escarpment view suites and ground-floor units with a combination of office and warehouse space.

What makes this development special is that it was built on spec, says Piper, which until now, has been relatively rare in Hamilton.

“We are grateful to the Losanis who chose to step out and be bold. We are glad to see some developers who believe in the market.”

Losani’s Pronto Homes on Demand program has been successful for its residential division, says public relations manager John Anthony Losani, so the builder applied the same principles to the construction of a commercial building.

“We have found there is power in a prospective tenant to be able to physically walk through the space before signing an agreement. We were also eager to continue to increase our exposure along the QEW. It is certainly not a common play but we have confidence and the resources to push forward.”

He says there is great demand for all its commercial properties along the QEW between Fruitland and Fifty roads, which see more than 104,000 cars travel by each day.

“The beauty of this property is that it attracts such a wide range of businesses across all sectors. Our previous commercial builds just west have attracted tenants as recognizable as First Ontario Credit Union and Comfree. It is, however, as equally appealing to smaller scale businesses, such as landscaping and car detailing companies.”

Another key new commercial property is the Hamilton Central Business Park, an 18lot, 26-acre subdivision at 440 Victoria St. N. offering affordable flex space ideal for offices, labs, light manufacturers, or health science companies.

The cornerstone of the development is a 36,000-square-foot open concept, brick and beam space built in 1907 that features soaring ceilings, plenty of natural light and the restored original elevator mechanics and cars.

“It’s highly competitive but also unique,” said Piper. “There is a lot of character to it. A lot of companies are looking for a historic feel.”

The property was home to carmaker Studebaker and elevator builder Otis and then to Allan Candy but sat vacant for about 10 years. After an extensive environmental remediation, and installation of a new road and utilities, the site is now building permit ready and poised to become a symbol of Hamilton’s transformation, says developer Sergio Manchia of Urbancore Developments.

The industrial subdivision, a collaboration between Urbancore and landowner DCR Holdings, offers lots of one to seven acres. Any uses involving noxious odours or noise will be rejected.

“We want to begin a resurgence of this area, so we are going to be very choosy about the uses here.”

The site is within blocks of Hamilton General Hospital, the David Braley Cardiac, Vascular and Stroke Research Institute, and the Ron Joyce Children’s Health Centre. It also offers easy access to downtown and the waterfront, and to highways to Toronto, Niagara and Brantford.

About 40 to 50 per cent of the lots are sold. “We are thrilled to be giving life to something long abandoned,” Manchia said. “A lot of eyes are watching this. We expect other landholders will follow. We will be a good example of what can be done.”

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