iFabric Corp. Expands with New Office Lease in Markham, Ontario

iFabric Corp. has finalized a lease agreement for approximately 5,000 square feet of office space in Markham, Ontario, situated near its existing head office and warehouse location. The new offices will serve as the home for the company’s Canadian management and administrative personnel. Following the relocation, the current company-owned building at 525 Denison Street, Markham, Ontario, will be exclusively repurposed as warehouse space.

The new office lease spans a 5-year period starting on April 1, 2024, and concluding on March 31, 2029, with an option to renew for an additional 5 years. iFabric’s personnel will temporarily occupy the new location until the necessary leasehold improvements are completed.

Hylton Karon, President, and CEO of iFabric, explained the move as a response to the need for accommodating a significant amount of new inventory related to upcoming Canadian apparel programs in the latter part of fiscal 2023. Mr. Karon shared insights into the decision-making process, stating, “We explored various options to expand our warehouse space, including purchasing a new property. However, given the high cost and limited availability of warehousing in the Toronto area, we believe that separating our administration from our warehouse presents the most cost-effective solution.”