The Toronto and the GTA market
The GTA is the deepest cold storage market in Canada and the tightest of the large ones. Vacancy across freezer and cooler facilities sits near 2.8%, against a national figure closer to 3.2%, and the practical consequence is that requirements above roughly 100,000 square feet frequently have no existing building that fits. Those become build-to-suit conversations rather than leasing ones.
Supply is concentrated along the 401, 407 and 410 corridors, with the heaviest tenant interest in Brampton, Mississauga, Vaughan and Milton. New supply is constrained on both sides: municipal site plan approvals in the GTA typically run 12 to 18 months, and purpose-built multi-temperature construction now exceeds $450 per square foot, which is enough that speculative cold development is rare.
What reaches a listing page is a small share of what trades. A meaningful part of the GTA cold inventory is held by operators who will discuss a sublease or a sale-leaseback without ever going to market, which is why an empty search result is not the same as an empty market.
What is being asked right now
Cold storage for lease we tracked in Toronto and the GTA, as of August 2026.
- Asking net rent
- $16.75$32.00 PSF
- Unit size
- 10,80023,300 SF
- Clear height
- 1428 ft
Asking net rents on cold-capable industrial space we tracked in the GTA. Small sample, asking rather than achieved, and quoted net of the energy pass-through, which on a freezer can rival the base rent. Drawn from 3 tracked listings; directional guidance for planning, not appraisal evidence. Ask us what is actually available.
Where the cold space is
The corridors that carry Toronto and the GTA's refrigerated and frozen inventory.
- Brampton and the Highway 410 corridor
- Mississauga and Highway 401 west
- Vaughan and Highway 400
- Milton and the 401 corridor
- Scarborough and Toronto east
- Ajax, Whitby and Durham
Toronto cold storage questions
How much does cold storage cost to lease in Toronto?
Asking net rents on GTA cold-capable space we tracked recently ran roughly $16.75 to $32.00 per square foot, on units between about 10,800 and 23,300 square feet. The spread is wide because it tracks temperature more than location: a cooler at +2C and a freezer at -25C in the same corridor are not the same product. Energy is passed through on top of the net rent in most structures and, on frozen space, can rival the base rent, so compare offers on total occupancy cost rather than face rent.
Is there cold storage available in the GTA right now?
Usually very little on the open market. Vacancy across GTA freezer and cooler facilities sits near 2.8%, and what does list tends to be under 25,000 square feet. Requirements above roughly 100,000 square feet frequently have no existing building that fits at any price, which is why a large share of GTA cold requirements end up as build-to-suit or as a sublease sourced directly from an operator.
Which parts of the GTA have cold storage?
The 401, 407 and 410 corridors carry almost all of it, with the strongest concentration in Brampton, Mississauga, Vaughan and Milton. Those locations were chosen for reefer truck access and proximity to the grocery and foodservice distribution networks, not for land price, which is why cold inventory has not followed dry industrial out to cheaper markets.
What should I check before signing a cold storage lease in Toronto?
The age and remaining life of the refrigeration plant, and who pays to replace it, because that is a seven-figure event and cold storage leases are not consistent about where the obligation sits. Then the energy pass-through mechanism. Then the achievable temperature in each zone, verified rather than stated. Then under-floor heave protection on any freezer space, and whether it is currently energised. Then the building's licensing status against what your product requires.
What does it cost to build cold storage in the GTA instead?
Purpose-built multi-temperature construction in Ontario runs roughly $420 to $560 per square foot, excluding land, racking and automation. Against GTA land values and a 12 to 18 month approvals timeline, building only makes sense when the compromise on an existing building is operational rather than cosmetic: the wrong temperature split, insufficient clear height, or a plant at the end of its life.
Looking for cold storage for lease in Toronto?
Whether it is cold storage for lease or a refrigerated facility for sale, most of what we transact never reaches a listing page. Tell us the temperature, the throughput and the timing, and we will tell you what exists in Toronto and the GTA.