The newest business complex at Newmarket’s Harry Walker Parkway South is ready to go and owners expect it to be filled with new businesses in the coming months.
ELM Developments has completed 455-465 Harry Walker Pkwy S. The two buildings feature 27 units for commercial and industrial operations, with businesses expected to come in and open there in the next several months, including a physiotherapy centre and fishing equipment store.
Real estate company Colliers sales representative John Bishay said about half the units have sold so far, at a better-than-expected pace.
“It’s definitely been a challenge given the market environment right now, but overall there’s been a really good reception,” he said. “It is constantly outperforming market stats and we really do credit that to the excellent location, excellent community, truly state-of-the-art construction.”
Construction on the complex started in 2022. The complex is condo-style, with businesses buying spaces for ownership starting at $1.1 million. Businesses also have to construct the interiors, with the buildings fully serviced but largely empty to be customizable.
Bishay said the areas feature state-of-the-art surveillance and security systems, parking, zoning for a wide array of businesses, bike racks, landscaping and more. Units range from 1,903 to 6341 square feet.
Several tenants have also already confirmed and purchased to start moving in. They include a physiotherapy/pain centre, a fishing store, an industrial automation office and a veterinarian, dental and rehab facility.
“It is truly something that stands out from other competitive developments,” Bishay said. “Truly have everything you need to run a first-rate business.”
ELM Developments said it saw an opportunity here with Newmarket’s expanding economy.
“With a new build, there is less risk and responsibility associated with repairs and maintenance. ELM saw an opportunity to capitalize on a growing commercial sector in Newmarket by developing a multi-unit building in an evolving industrial business park,” the company said on its website.
More information is available through the listing on the Colliers Canada website.
