Three auto enthusiasts are marketing the first-ever Toronto industrial car condominium to store high-end exotic and vintage automobiles.
Ming Zee, Christopher Grant, and Todd Yule have retrofitted a former Gilbey’s distillery building in Etobicoke, Ont., into a 183,000 square-foot storage warehouse in Etobicoke. They bought the building, which is zoned in an industrial area, in 2021, and have named the business ToyBx. It has 180 units, many of which have an open mezzanine above the cars that can be used for work and/or lounge space.
The starting cost for a unit is $420,000. The mezzanines are optional and cost a minimum of $50,000. There are various model suites showcasing the concepts.
Zee, Principal Broker of Record of Metcom Realty, which does full-service commercial real estate, told Canadian auto dealer he and his partners thought the business would work well because it’s a first for Toronto, which has the population and car enthusiasts to support the venture. There are other examples of this concept in the United States, Europe, and parts of Western Canada.
“A lot of these car concepts in the U.S. call these things man caves,” said Zee. “For whatever reason a car condominium has never happened in Toronto. We curated and designed these units to accommodate cars. It’s like buying a residential condo, but these are industrial condominiums. You own the facility, but you cannot live in these units.”
At a time when cars are being stolen in the Greater Toronto Area, Zee said the warehouse offers security and practicality for storing cars in winter. There is 24-7 access and a security system that has facial recognition, a central monitoring station, and other features.
“If you’re a car collector, you’d have to buy an industrial facility to store your vehicle or find a rental facility, especially over the winter, but you’d have to make an appointment to get your car because they stack [them] in,” said Zee. “This is your own private space, all enclosed. There will be a community of car enthusiasts that share your passion for vehicles. We think it’s something that is needed, especially in Toronto, where there are more and more condominium developments that don’t require parking any longer.”
The units, which have 20-foot ceiling heights, have rows to accommodate a minimum of four cars with a car lift. Car elevators will be put in for access for the second and third floor. A second phase will feature a higher-end storage facility to be built in about three years.
“It’s an interesting concept, we’ve had plenty of interest. It’s obviously a luxury purchase for car collectors,” said Zee. “The beauty of this building is the location — 15 minutes from downtown Toronto at the elbow of Highway 427 and the Gardiner Expressway. So it has access into the city and to condominiums. It’s very convenient.”
From outside the facility, you can see the Ford Performance Centre where the Toronto Maple Leafs practice. Zee said there has been some expression of interest from representatives of players about buying a unit.
