Market Data as of August 31, 2026
Mills Square - West Tower - Downtown Erin Mills 3 — Rental Market Data
Last Lease
2-BedroomBuilding Summary & Rental Market Overview
Rental market analytics and building profile as of August 31, 2026.
Mills Square – West Tower at 4677 Glen Erin Drive in Mississauga West is a fully occupied 178-suite residential building completed in 2020 by the Pemberton Group, with zero units currently listed as of August 31, 2026. The building's recent leasing pace shows one closed lease in the trailing 30 days at an average of $3,050 per month and three leases over the past 90 days averaging $2,780 per month, with average days on market of 30 and 21 respectively across those windows.
Because no active listings exist, current asking rents and per-square-foot rates cannot be calculated. Historical lease data shows an all-time average realized rent of $2,685 per month at $3.50 per square foot across an average suite size of 775 square feet, which sits 0.3 percent below the Mississauga West submarket asking benchmark of $3.63 per square foot. The dominant leased layout is the one-bedroom-plus-den configuration, accounting for 50 percent of tracked closed transactions, indicating the building's inventory skews toward mid-range executive footprints rather than compact entry-level suites.
With zero active listings and zero delisted units, marketing friction cannot be assessed through current listing velocity. Tenants who have leased at this building negotiated an average discount of $25 per month, or 0.79 percent below asking, across all tracked closed transactions, representing roughly $300 in annual savings. Renters seeking comparable one-bedroom-plus-den or two-bedroom layouts in Mississauga West should monitor the 47 active listings currently available across the broader submarket, where the average asking rent stands at $2,685 per month.
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Last Realized Lease
Transaction metrics for the most recently leased suite
Recent Leased Transactions & Contract Prices
Recent lease transactions, absorption velocity, and the difference between landlord asking prices and actual prices agreed to by tenants at Mills Square - West Tower - Downtown Erin Mills 3 (Data period: For the month of August 2026).
Leased Transaction Insights & Questions
How many suites were leased at Mills Square - West Tower - Downtown Erin Mills 3 last month, and how fast did they rent?
Mills Square West Tower at 4677 Glen Erin Dr recorded a 30-day average DOM of 30 days and a 90-day average DOM of 21 days, compared to the Mississauga West submarket benchmark of 22 days. Over the trailing 30 days, one lease closed. The 90-day window captured three closings, and the full lifetime record totals four signed leases. Leasing turnover at this 178-suite building remains thin and episodic rather than sustained, with no acceleration signal visible across the tracked period.
What is the negotiation spread between asking rents and closed lease prices at Mills Square - West Tower - Downtown Erin Mills 3?
Mills Square West Tower tenants negotiated an average discount of $25 per month (0.79% below asking), translating to $300 in annual savings per unit across the four tracked leases. Twenty-five percent of all closed leases settled under the listed asking price, confirming measurable tenant leverage in this submarket. Landlords absorbed a modest concession on a quarter of transactions, and the remaining leases closed at or near asking with no premium captured.
What are typical executed lease prices across different layouts at Mills Square - West Tower - Downtown Erin Mills 3?
Mills Square West Tower's two highest-volume anchor layouts are the 1-Bedroom + Den (2 leases, average $2,400 per month, average DOM 22 days) and the 2-Bedroom + Den (2 leases, average $2,970 per month, average DOM 28 days). The 1-Bedroom + Den tier closed at a flat $2,400 across both transactions (P25–P75: $2,400 to $2,400), averaging 650 square feet at $3.69 per square foot. The 2-Bedroom + Den tier ranged from $2,930 to $3,010 (P25–P75), averaging 900 square feet at $3.31 per square foot. Both tiers represent a limited sample of two closed leases each and should be treated as directional indicators only, not broad statistical benchmarks.
What measurable rent premium did suites with parking achieve in closed leases at Mills Square - West Tower - Downtown Erin Mills 3?
Mills Square West Tower does not have a reliably isolable leased parking premium, as the paired data between suite rents and parking assignments is insufficient to produce a verified figure. No active asking-rate comparison is available either, given zero currently listed units in the building. Tenants in this submarket should confirm whether parking is bundled into the suite rent or billed separately before signing, as the platform cannot confirm a standalone parking charge for this property.
How does the lease-to-listing ratio at Mills Square - West Tower - Downtown Erin Mills 3 reflect current tenant demand?
Mills Square West Tower shows a volatile but broadly upward rent trajectory from $2,400 in May to $3,050 in August 2026, with one lease closing per month across the four-month window. May closed one deal at $2,400 per month ($3.69 per square foot, 35-day DOM). June closed one deal at $2,890 per month ($3.40 per square foot, 26-day DOM). July closed one deal at $2,400 per month ($3.69 per square foot, 8-day DOM). August closed one deal at $3,050 per month ($3.21 per square foot, 30-day DOM). The nominal dips in May and July to $2,400 reflect compact 650-square-foot 1-Bedroom + Den footprints rather than any devaluation of the property; the higher $/sq. ft. rate on those months confirms the smaller suite size is the driver.
Historical Active Listings & Market Dynamics
Analyze availability, historical asking prices, price per foot ($/SF), and days on market over time. Use filters below to benchmark specific layouts.
| Date | Units Available | Avg Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-04-27 | 1 | 2400 | 650 | 3.69 | 6 |
| 2026-04-28 | 1 | 2400 | 650 | 3.69 | 7 |
| 2026-04-29 | 1 | 2400 | 650 | 3.69 | 8 |
| 2026-04-30 | 1 | 2400 | 650 | 3.69 | 9 |
| 2026-05-01 | 1 | 2400 | 650 | 3.69 | 10 |
| 2026-05-02 | 1 | 2400 | 650 | 3.69 | 11 |
| 2026-05-03 | 1 | 2400 | 650 | 3.69 | 12 |
| 2026-05-04 | 1 | 2400 | 650 | 3.69 | 13 |
| 2026-05-05 | 1 | 2400 | 650 | 3.69 | 14 |
| 2026-05-06 | 1 | 2400 | 650 | 3.69 | 15 |
| 2026-05-07 | 1 | 2400 | 650 | 3.69 | 16 |
| 2026-05-08 | 1 | 2400 | 650 | 3.69 | 17 |
| 2026-05-09 | 1 | 2400 | 650 | 3.69 | 18 |
| 2026-05-10 | 1 | 2400 | 650 | 3.69 | 19 |
| 2026-05-11 | 2 | 2645 | 750 | 3.55 | 10 |
| 2026-05-12 | 3 | 2730 | 783 | 3.50 | 7 |
| 2026-05-13 | 3 | 2730 | 783 | 3.50 | 8 |
| 2026-05-14 | 3 | 2730 | 783 | 3.50 | 9 |
| 2026-05-15 | 3 | 2730 | 783 | 3.50 | 10 |
| 2026-05-16 | 3 | 2730 | 783 | 3.50 | 11 |
| 2026-05-17 | 3 | 2730 | 783 | 3.50 | 12 |
| 2026-05-18 | 3 | 2730 | 783 | 3.50 | 13 |
| 2026-05-19 | 3 | 2730 | 783 | 3.50 | 14 |
| 2026-05-20 | 3 | 2730 | 783 | 3.50 | 15 |
| 2026-05-21 | 3 | 2730 | 783 | 3.50 | 16 |
| 2026-05-22 | 3 | 2730 | 783 | 3.50 | 17 |
| 2026-05-23 | 3 | 2730 | 783 | 3.50 | 18 |
| 2026-05-24 | 3 | 2730 | 783 | 3.50 | 19 |
| 2026-05-25 | 3 | 2730 | 783 | 3.50 | 20 |
| 2026-05-26 | 2 | 2895 | 850 | 3.41 | 15 |
| 2026-05-27 | 2 | 2895 | 850 | 3.41 | 16 |
| 2026-05-28 | 2 | 2895 | 850 | 3.41 | 17 |
| 2026-05-29 | 2 | 2895 | 850 | 3.41 | 18 |
| 2026-05-30 | 2 | 2895 | 850 | 3.41 | 19 |
| 2026-05-31 | 2 | 2895 | 850 | 3.41 | 20 |
| 2026-06-01 | 1 | 2890 | 850 | 3.40 | 21 |
| 2026-06-02 | 1 | 2890 | 850 | 3.40 | 22 |
| 2026-06-03 | 1 | 2890 | 850 | 3.40 | 23 |
| 2026-06-04 | 1 | 2890 | 850 | 3.40 | 24 |
| 2026-06-05 | 1 | 2890 | 850 | 3.40 | 25 |
| 2026-07-23 | 2 | 2775 | 800 | 3.50 | N/A |
| 2026-07-24 | 2 | 2775 | 800 | 3.50 | 1 |
| 2026-07-25 | 2 | 2775 | 800 | 3.50 | 2 |
| 2026-07-26 | 2 | 2775 | 800 | 3.50 | 3 |
| 2026-07-27 | 2 | 2775 | 800 | 3.50 | 4 |
| 2026-07-28 | 2 | 2775 | 800 | 3.50 | 5 |
| 2026-07-29 | 2 | 2775 | 800 | 3.50 | 6 |
| 2026-07-30 | 2 | 2775 | 800 | 3.50 | 7 |
| 2026-07-31 | 1 | 3150 | 950 | 3.32 | 8 |
| 2026-08-01 | 1 | 3150 | 950 | 3.32 | 9 |
| 2026-08-02 | 1 | 3150 | 950 | 3.32 | 10 |
| 2026-08-03 | 1 | 3150 | 950 | 3.32 | 11 |
| 2026-08-04 | 1 | 3150 | 950 | 3.32 | 12 |
| 2026-08-05 | 1 | 3150 | 950 | 3.32 | 13 |
| 2026-08-06 | 1 | 3150 | 950 | 3.32 | 14 |
| 2026-08-07 | 1 | 3150 | 950 | 3.32 | 15 |
| 2026-08-08 | 1 | 3150 | 950 | 3.32 | 16 |
| 2026-08-09 | 1 | 3150 | 950 | 3.32 | 17 |
| 2026-08-10 | 1 | 3150 | 950 | 3.32 | 18 |
| 2026-08-11 | 1 | 3150 | 950 | 3.32 | 19 |
| 2026-08-12 | 1 | 3150 | 950 | 3.32 | 20 |
| 2026-08-13 | 1 | 3150 | 950 | 3.32 | 21 |
| 2026-08-14 | 1 | 3150 | 950 | 3.32 | 22 |
| 2026-08-15 | 1 | 3150 | 950 | 3.32 | 23 |
| 2026-08-16 | 1 | 3150 | 950 | 3.32 | 24 |
| 2026-08-17 | 1 | 3150 | 950 | 3.32 | 25 |
| 2026-08-18 | 1 | 3150 | 950 | 3.32 | 26 |
| 2026-08-19 | 1 | 3150 | 950 | 3.32 | 27 |
| 2026-08-20 | 1 | 3150 | 950 | 3.32 | 28 |
| 2026-08-21 | 1 | 3150 | 950 | 3.32 | 29 |
12-Month Market Dynamics & Trend Trajectory
Mills Square West Tower's lifetime average lease rent of $2,685 per month sits $80 above the Mississauga West submarket average of $2,605, while its $3.50 per square foot rate runs just 0.3% below the submarket leased benchmark of $3.44 per square foot. The building's 775-square-foot average suite size positions it as a mid-density offering, and the slight per-square-foot discount relative to submarket peers suggests tenants are getting marginally more space for their dollar compared to adjacent Mississauga West inventory. On pricing discipline, 25% of the four tracked leases closed below asking, with tenants capturing an average $25-per-month concession (0.79% under list). The remaining 75% settled at or near asking with no landlord premium extracted. This pattern points to a tenant-favorable negotiation environment where landlords are willing to make small concessions to close, rather than holding firm on list price. The $300-per-year annualized savings per discounted lease is modest but consistent with a submarket where 47 active listings create enough supply for tenants to push back on price.
Historical building statistics - leased transactions
This section tracks completed leasing transactions over time starting from May 1, 2026. Use the filters below to refine the trends by unit type, parking, den, and price performance.
Latest leased insights and trends
| Date | Units Leased | Avg Leased Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-05-24 | 1 | 2400 | 650 | 3.69 | 35 |
| 2026-05-31 | 1 | 2890 | 850 | 3.40 | 26 |
| 2026-06-07 | 0 | N/A | N/A | N/A | N/A |
| 2026-06-14 | 0 | N/A | N/A | N/A | N/A |
| 2026-06-21 | 0 | N/A | N/A | N/A | N/A |
| 2026-06-28 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-05 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-12 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-19 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-26 | 1 | 2400 | 650 | 3.69 | 8 |
| 2026-08-02 | 0 | N/A | N/A | N/A | N/A |
| 2026-08-09 | 0 | N/A | N/A | N/A | N/A |
| 2026-08-16 | 1 | 3050 | 950 | 3.21 | 30 |
Nearby Building Rental Comparables & Price Spreads
Direct rental rate comparisons against residential properties in the immediate vicinity.
Mills Square – West Tower (4677 Glen Erin Dr) sits in a tightly clustered pocket of four active competitor buildings within 150 metres, all of which recorded closed lease transactions over the trailing 180 days. The closest peer is Mills Square East Tower at 4699 Glen Erin Dr, just 0.04 km away and also completed in 2020, which logged 10 closed leases. Erin Square – Tower A (4655 Metcalfe Ave, 0.12 km) and Erin Square – Tower B (4675 Metcalfe Ave, 0.14 km), both delivered in 2022, recorded 16 and 13 closed leases respectively. The oldest building in the set, Downtown Erin Mills – Tower 2 at 4655 Glen Erin Dr (0.15 km, completed 2019), closed 12 leases in the same window. No competitor in this immediate radius recorded zero transactions, so every named building serves as a live pricing benchmark rather than a purely architectural reference. Against the four-comp average of $2,859 per month, $3.49 per square foot, and 825 square feet of interior space, Mills Square – West Tower's realized lease profile of $2,685 per month at $3.50 per square foot across 775 square feet positions the subject as a slightly more compact, marginally cheaper-per-month offering. The subject's 775-square-foot average footprint is 50 square feet below the comp mean, and its $3.50 per-square-foot rate sits essentially at parity with the $3.49 benchmark. Built in 2020, the West Tower shares its completion era with the East Tower and predates the 2022 Erin Square pair by roughly two years, giving it a modest age advantage over those two while trailing the 2019 Tower 2 by one year.
4699 Glen Erin Dr, Mississauga
Comparable Analysis & Questions
How do rental rates at Mills Square - West Tower - Downtown Erin Mills 3 compare to neighbouring buildings within Mississauga West?
Mills Square – West Tower's average realized lease rent of $2,685 per month runs $174 below the four-comp benchmark of $2,859, placing the subject at a clear nominal-rent discount across every active competitor in this pocket. Mills Square East Tower (4699 Glen Erin Dr, 0.04 km) closed 10 leases at an average of $2,805 per month, $3.54 per square foot, and 794 square feet, meaning the subject trades at a $120-per-month lower rent. Erin Square – Tower A (4655 Metcalfe Ave, 0.12 km) recorded 16 closed leases averaging $2,877 per month at $3.43 per square foot across 853 square feet, a $192-per-month gap in the subject's favour. Erin Square – Tower B (4675 Metcalfe Ave, 0.14 km) closed 13 leases at $2,744 per month, $3.56 per square foot, and 776 square feet, leaving the subject $59 per month lower. Downtown Erin Mills – Tower 2 (4655 Glen Erin Dr, 0.15 km) posted 12 closed leases at $3,008 per month, $3.44 per square foot, and 875 square feet, the widest spread at $323 per month below the subject's rent.
Does Mills Square - West Tower - Downtown Erin Mills 3 offer a competitive price-per-square-foot ($/SF) against local comparables?
At $3.50 per square foot and 775 average interior square feet, Mills Square – West Tower offers a mid-pack rate-per-square-foot profile against the $3.49 comp average while providing the smallest footprint in the set, creating a distinct space-versus-rate trade-off for renters. Against Mills Square East Tower, the subject trades at a $0.04 per-square-foot (1.1%) discount and provides 19 fewer interior square feet, so the lower nominal rent of $120 per month is driven partly by the slightly smaller suite rather than a weaker asset valuation. Erin Square – Tower A presents the opposite dynamic: the subject commands a $0.07 per-square-foot (2.0%) premium yet delivers 78 fewer interior square feet, meaning the $192-per-month lower rent is entirely a function of the reduced footprint rather than a cheaper per-unit rate. Erin Square – Tower B shows near-identical square footage (just 1 square foot less) with the subject trading at a $0.06 per-square-foot (1.7%) discount, producing the tightest $59-per-month rent gap. Downtown Erin Mills – Tower 2 carries the largest footprint delta at 100 fewer square feet in the subject, and despite the subject commanding a $0.06 per-square-foot (1.7%) premium, the smaller suite still yields a $323-per-month lower total rent, confirming that the nominal savings are footprint-driven rather than a discount on the building's per-unit value.
How do building age, amenities, and developer reputation impact rent spreads?
Mills Square – West Tower fields a 10-item amenity suite—concierge and security, gym and fitness centre, yoga studio, indoor pool, sauna and steam room, party and lounge room, dining room and kitchen, library and reading room, BBQ area, and rooftop terrace—that is a streamlined subset of what its four immediate competitors offer. Every peer in this pocket layers on additional lifestyle features: the East Tower adds a meeting room, outdoor children's playground, and outdoor mini-golf; both Erin Square towers introduce an outdoor pool, media and theatre room, games and billiards room, garden and courtyard, children's playground, and a pet wash station; and Downtown Erin Mills – Tower 2 contributes a meeting room, media and theatre room, and garden and courtyard. The subject's dining room and kitchen is the one signature amenity genuinely absent from Downtown Erin Mills – Tower 2, while its library and reading room is missing from Erin Square – Tower A. The West Tower's package, stripped of outdoor pools, pet facilities, and dedicated children's play areas, appeals most to cost-conscious professionals and young couples who prioritise a low-maintenance, indoor-focused lifestyle—indoor aquatic and wellness access, a functional dining and social space, and secure concierge service—over the broader family-oriented or pet-friendly amenity stacks of its 2022-era neighbours.
Building Amenities, Transit & Neighbourhood Features
Building amenities and neighbouring residential communities around Mills Square - West Tower - Downtown Erin Mills 3.
Building Amenities
- Concierge & Security
- Gym & Fitness Centre
- Yoga Studio
- Indoor Pool
- Sauna & Steam Room
- Party & Lounge Room
- Dining Room & Kitchen
- Library & Reading Room
- BBQ Area
- Rooftop Terrace
Residential Buildings in the Vicinity
- Mills Square East Tower - Downtown Erin Mills 435 m
- Erin Square - Tower A121 m
- Erin Square - Tower B142 m
- Downtown Erin Mills - Tower 2148 m
- Downtown Erin Mills198 m
- Miracle in Mississauga328 m
- Erin Mills329 m
- Arc Condominiums - Erin Mills 2372 m
- Papillon Place III402 m
- Papillon Place II464 m
- The Kith491 m
- Kindred Condos532 m
Data Methodology & Analytical Standards
How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for Mills Square - West Tower - Downtown Erin Mills 3.
Snapshot Dates & Benchmark Cadence
- Standardized Snapshot: Market metrics reflect a standardized monthly snapshot locked as of August 31, 2026.
- Benchmark Comparison Cadence: Month-over-month comparisons evaluate changes across standardized month-end reporting windows (August 2026 vs July 2026), ensuring consistent baseline periods and eliminating intra-month reporting volatility.
- Point-in-Time Daily History: Daily charts capture point-in-time active listings available on any given calendar day.
Public Data Aggregation & Thresholds
- Public Data Aggregation: FastScreen aggregates residential rental listing and completed lease transaction records from publicly available sources.
- Threshold Filtering: All listings are subject to a minimum monthly rental threshold of $1,000 to filter out standalone storage lockers, private parking spaces, and misclassified commercial entries from condominium statistics.
Calculation Formulations
- Average Asking Rent: Weighted average of active asking prices across available suites in the reporting period.
- Price Per Square Foot ($/SF): Calculated by dividing rent by square footage only for listings that provide unit dimensions (suites without stated square footage are excluded from $/SF calculations).
- Days on Market (DOM): Measures elapsed calendar days between the date a suite is first listed and either the benchmark snapshot date (for active listings) or the finalized date leased.
- Parking & Den Differentials: Average asking rent differences between suites with vs. without parking, and suites with vs. without a den.
Data Limitations & Scope
- Exclusively Public Records: Statistics are derived exclusively from publicly available rental listings and completed lease records. Private direct-to-landlord arrangements, unadvertised tenant renewals, and off-market rental agreements are not captured.
- Agreed Contract Amounts: Reported lease amounts reflect agreed contract rents and do not account for private move-in allowances or individual unit renovations that may influence pricing spreads.
Disclaimer: The information and statistics presented on this page (including asking rents, lease prices, de-listed listings, average square footage, days on market, and implied suite premiums) are aggregated from public listing sources for general informational, educational, and reference purposes only. FastScreen does not guarantee the accuracy, completeness, or timeliness of any data shown. This information does not constitute financial, investment, legal, or professional real estate advice. Users should conduct their own independent research and consult with licensed professionals before making any rental, leasing, property management, or real estate investment decisions.