diff --git a/WORKSPACE b/WORKSPACE
index 1b46a6c1348..c1862c15435 100644
--- a/WORKSPACE
+++ b/WORKSPACE
@@ -13,8 +13,6 @@ load("//bazel:grpc_extra_deps.bzl", "grpc_extra_deps")
 grpc_extra_deps()
 
 register_execution_platforms(
-    "//third_party/toolchains:local",
-    "//third_party/toolchains:local_large",
     "//third_party/toolchains:rbe_windows",
 )
 
@@ -22,6 +20,15 @@ register_toolchains(
     "//third_party/toolchains/bazel_0.26.0_rbe_windows:cc-toolchain-x64_windows",
 )
 
+load("@bazel_toolchains//rules/exec_properties:exec_properties.bzl", "create_exec_properties_dict", "custom_exec_properties")
+
+custom_exec_properties(
+    name = "grpc_custom_exec_properties",
+    constants = {
+        "LARGE_MACHINE": create_exec_properties_dict(gce_machine_type = "n1-standard-8"),
+    },
+)
+
 load("@bazel_toolchains//rules:rbe_repo.bzl", "rbe_autoconfig")
 
 # Create toolchain configuration for remote execution.
@@ -29,6 +36,14 @@ rbe_autoconfig(
     name = "rbe_default",
     # use exec_properties instead of deprecated remote_execution_properties
     use_legacy_platform_definition = False,
+    exec_properties = create_exec_properties_dict(
+        # n1-highmem-2 is the default (small machine) machine type. Targets
+        # that want to use other machines (such as LARGE_MACHINE) will override
+        # this value.
+        gce_machine_type = "n1-highmem-2",
+        docker_add_capabilities = "SYS_PTRACE",
+        docker_privileged = True,
+    ),
 )
 
 load("@bazel_toolchains//rules:environments.bzl", "clang_env")
diff --git a/bazel/grpc_deps.bzl b/bazel/grpc_deps.bzl
index a6b62554f38..ec571423df1 100644
--- a/bazel/grpc_deps.bzl
+++ b/bazel/grpc_deps.bzl
@@ -174,11 +174,11 @@ def grpc_deps():
         # list of releases is at https://releases.bazel.build/bazel-toolchains.html
         http_archive(
             name = "bazel_toolchains",
-            sha256 = "e9bab54199722935f239cb1cd56a80be2ac3c3843e1a6d3492e2bc11f9c21daf",
-            strip_prefix = "bazel-toolchains-1.0.0",
+            sha256 = "0b36eef8a66f39c8dbae88e522d5bbbef49d5e66e834a982402c79962281be10",
+            strip_prefix = "bazel-toolchains-1.0.1",
             urls = [
-                "https://github.com/bazelbuild/bazel-toolchains/releases/download/1.0.0/bazel-toolchains-1.0.0.tar.gz",
-                "https://mirror.bazel.build/github.com/bazelbuild/bazel-toolchains/archive/1.0.0.tar.gz",
+                "https://github.com/bazelbuild/bazel-toolchains/releases/download/1.0.1/bazel-toolchains-1.0.1.tar.gz",
+                "https://mirror.bazel.build/github.com/bazelbuild/bazel-toolchains/archive/1.0.1.tar.gz",
             ],
         )
 
diff --git a/test/core/gprpp/BUILD b/test/core/gprpp/BUILD
index 3e23d78b124..c0d3d0d275e 100644
--- a/test/core/gprpp/BUILD
+++ b/test/core/gprpp/BUILD
@@ -12,7 +12,8 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-load("//bazel:grpc_build_system.bzl", "grpc_cc_library", "grpc_cc_test", "grpc_cc_binary", "grpc_package", "LARGE_MACHINE")
+load("//bazel:grpc_build_system.bzl", "grpc_cc_library", "grpc_cc_test", "grpc_cc_binary", "grpc_package")
+load("@grpc_custom_exec_properties//:constants.bzl", "LARGE_MACHINE")
 
 licenses(["notice"])  # Apache v2
 
diff --git a/test/core/iomgr/BUILD b/test/core/iomgr/BUILD
index 13327db112f..6ebca950988 100644
--- a/test/core/iomgr/BUILD
+++ b/test/core/iomgr/BUILD
@@ -12,7 +12,8 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-load("//bazel:grpc_build_system.bzl", "grpc_cc_library", "grpc_cc_test", "grpc_cc_binary", "grpc_package", "LARGE_MACHINE")
+load("//bazel:grpc_build_system.bzl", "grpc_cc_library", "grpc_cc_test", "grpc_cc_binary", "grpc_package")
+load("@grpc_custom_exec_properties//:constants.bzl", "LARGE_MACHINE")
 
 licenses(["notice"])  # Apache v2
 
diff --git a/test/cpp/qps/BUILD b/test/cpp/qps/BUILD
index 60596c8e31d..1b8fe306a1b 100644
--- a/test/cpp/qps/BUILD
+++ b/test/cpp/qps/BUILD
@@ -14,8 +14,9 @@
 
 licenses(["notice"])  # Apache v2
 
-load("//bazel:grpc_build_system.bzl", "grpc_cc_test", "grpc_cc_library", "grpc_cc_binary", "grpc_package", "LARGE_MACHINE")
+load("//bazel:grpc_build_system.bzl", "grpc_cc_test", "grpc_cc_library", "grpc_cc_binary", "grpc_package")
 load("//test/cpp/qps:qps_benchmark_script.bzl", "qps_json_driver_batch", "json_run_localhost_batch")
+load("@grpc_custom_exec_properties//:constants.bzl", "LARGE_MACHINE")
 
 grpc_package(name = "test/cpp/qps")
 
diff --git a/third_party/toolchains/BUILD b/third_party/toolchains/BUILD
index 93b8bead777..a581d1fe1e3 100644
--- a/third_party/toolchains/BUILD
+++ b/third_party/toolchains/BUILD
@@ -16,6 +16,8 @@ licenses(["notice"])  # Apache v2
 
 package(default_visibility = ["//visibility:public"])
 
+load("@bazel_toolchains//rules/exec_properties:exec_properties.bzl", "create_exec_properties_dict")
+
 alias(
     name = "rbe_windows",
     actual = ":rbe_windows_1803",
@@ -29,56 +31,9 @@ platform(
         "@bazel_tools//platforms:windows",
         "@bazel_tools//tools/cpp:msvc",
     ],
-    exec_properties = {
-        "container-image" : "docker://gcr.io/grpc-testing/rbe_windows_toolchain@sha256:75728e7d6d804090f71095e5fec627b18cfa1f47adc52096c209f2a687e06b2e",
-        "gceMachineType" : "n1-highmem-2",
-        "OSFamily" : "Windows",
-    },
-)
-
-# RBE Ubuntu16_04 r346485
-platform(
-    name = "rbe_ubuntu1604",
-    parents = ["@rbe_default//config:platform"],
-    constraint_values = [
-        "//third_party/toolchains/machine_size:standard",
-    ],
-    exec_properties = {
-        "gceMachineType" : "n1-highmem-2",  # Small machines for majority of tests
-        "dockerSiblingContainers" : "false",
-        "dockerNetwork" : "off",
-        "dockerAddCapabilities" : "SYS_PTRACE",
-        "dockerPrivileged" : "true"
-    },
-)
-
-platform(
-    name = "rbe_ubuntu1604_large",
-    parents = ["@rbe_default//config:platform"],
-    constraint_values = [
-        "//third_party/toolchains/machine_size:large",
-    ],
-    exec_properties = {
-        "gceMachineType" : "n1-standard-8",  # Large machines for some resource demanding tests (TSAN).
-        "dockerSiblingContainers" : "false",
-        "dockerNetwork" : "off",
-        "dockerAddCapabilities" : "SYS_PTRACE",
-        "dockerPrivileged" : "true"
-    },
-)
-
-platform(
-    name = "local",
-    parents = ["@bazel_tools//platforms:target_platform"],
-    constraint_values = [
-        "//third_party/toolchains/machine_size:standard",
-    ],
-)
-
-platform(
-    name = "local_large",
-    parents = ["@bazel_tools//platforms:target_platform"],
-    constraint_values = [
-        "//third_party/toolchains/machine_size:large",
-    ],
+    exec_properties = create_exec_properties_dict(
+        container_image = "docker://gcr.io/grpc-testing/rbe_windows_toolchain@sha256:75728e7d6d804090f71095e5fec627b18cfa1f47adc52096c209f2a687e06b2e",
+        gce_machine_type = "n1-highmem-2",
+        os_family = "Windows",
+    ),
 )
diff --git a/third_party/toolchains/machine_size/BUILD b/third_party/toolchains/machine_size/BUILD
deleted file mode 100644
index cc962946c31..00000000000
--- a/third_party/toolchains/machine_size/BUILD
+++ /dev/null
@@ -1,31 +0,0 @@
-# Copyright 2018 gRPC authors.
-#
-# Licensed under the Apache License, Version 2.0 (the "License");
-# you may not use this file except in compliance with the License.
-# You may obtain a copy of the License at
-#
-#     http://www.apache.org/licenses/LICENSE-2.0
-#
-# Unless required by applicable law or agreed to in writing, software
-# distributed under the License is distributed on an "AS IS" BASIS,
-# WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
-# See the License for the specific language governing permissions and
-# limitations under the License.
-
-licenses(["notice"])  # Apache v2
-
-package(default_visibility = ["//visibility:public"])
-
-constraint_setting(name = "machine_size")
-
-constraint_value(
-    name = "large",
-    constraint_setting = ":machine_size",
-)
-
-constraint_value(
-    name = "standard",
-    constraint_setting = ":machine_size",
-)
-
-# Add other constraint values as needed (tiny, huge, etc.) in the future.
diff --git a/tools/remote_build/rbe_common.bazelrc b/tools/remote_build/rbe_common.bazelrc
index d4242baaae9..78f29206ced 100644
--- a/tools/remote_build/rbe_common.bazelrc
+++ b/tools/remote_build/rbe_common.bazelrc
@@ -22,9 +22,9 @@ startup --host_jvm_args=-Dbazel.DigestFunction=SHA256
 build --crosstool_top=@rbe_default//cc:toolchain
 build --extra_toolchains=@rbe_default//config:cc-toolchain
 # Use custom execution platforms defined in third_party/toolchains
-build --extra_execution_platforms=//third_party/toolchains:rbe_ubuntu1604,//third_party/toolchains:rbe_ubuntu1604_large
-build --host_platform=//third_party/toolchains:rbe_ubuntu1604
-build --platforms=//third_party/toolchains:rbe_ubuntu1604
+build --extra_execution_platforms=@rbe_default//config:platform
+build --host_platform=@rbe_default//config:platform
+build --platforms=@rbe_default//config:platform
 
 build --spawn_strategy=remote
 build --strategy=Javac=remote
@@ -81,7 +81,7 @@ build:tsan --copt=-gmlt
 # TODO(jtattermusch): use more reasonable test timeout
 build:tsan --test_timeout=3600
 build:tsan --test_tag_filters=-no_linux,-qps_json_driver
-build:tsan --extra_execution_platforms=//third_party/toolchains:rbe_ubuntu1604,//third_party/toolchains:rbe_ubuntu1604_large
+build:tsan --extra_execution_platforms=@rbe_default//config:platform
 
 # undefined behavior sanitizer: most settings are already in %workspace%/.bazelrc
 # we only need a few additional ones that are Foundry specific