commercial portfolio east - Canada Commercial Real Estate Listings ...
12 BUILDINGS + VACANT LAND
19.3
EAST
COMMERCIAL PORTFOLIO
92%
LEASED
TOTAL ACRES
266
294, 143 sf GLA
UNITS
MIXEDUSE PORTFOLIO INVESTMENT SUMMARY
THE OPPORTUNITY The Toronto East Commercial Portfolio (the “Portfolio”, the “Properties”) comprises six properties in the former Municipality of Scarborough, including industrial, retail and office, along with a vacant parcel of development land. Concentrated in two high-growth nodes, at Sheppard Avenue East and McCowan Road, and at Midland Avenue and Finch Avenue East, the Portfolio provides an extremely rare opportunity for potential investors to aggregate approximately 294,000 sf, distributed across 19.3 acres, situated along major commercial corridors and within diverse residential neighbourhoods in the eastern part of the City of Toronto.
50-70 Silver Star Blvd.
3300 Midland Ave.
3300 Midland Ave.
3280-3300 Midland Ave.
1085 Bellamy Rd. N.
4820-4830 Sheppard Ave. E.
4800-4810 Sheppard Ave. E.
UNIQUE ASSET MIX
POPULATION
• Diverse, Young Population • Strong Chinese & South Asian Cohort
The Portfolio includes a rarely available combination of income producing industrial, retail and office assets occupied by a diverse tenant base, along with a ready to be developed vacant land parcel, providing an exceptional opportunity for a buyer to acquire a dominant ownership position, all within a 5.0km radius. The proximity and physical clustering of the assets not only delivers management and operational synergies, but also allows for tremendous development opportunities over the long term.
INCOME • Diverse Tenant Mix
DEVELOPMENT
LOCATION
• High-Growth Nodes
• Mixed-Use Urban Nodes
• Smooth Lease Rollover
• 19.3 Urban Acres in Total
• Historically Loyal Tenancy
• 3.92 Acres Shovel Ready
• Transit Orientated, High Traffic Locations
PORTFOLIO SUMMARY The six-property Portfolio is 92% occupied and includes a total of 19.3 acres improved with 294,000 sf of existing buildings, a summary of which is provided below:
Property
4800-4810 4820-4830 Sheppard Ave. E. Sheppard Ave. E.
3280-3300 Midland Ave.
50-70 Silver Star Blvd.
3266 Midland Ave.
1085 Bellamy Rd. N.
Retail/ Industrial
Retail
Retail/Office
Retail Warehousing
Vacant Land
Retail/Office/ Industrial
One
One
One-Two
One
-
One-Two
62,534
19,797
73,626
100,915
-
37,271
52
29
59
87
-
39
Year Built
1982
1998
1986
1984
-
1981
Site Area (Acres)
3.49
1.55
3.36
5.29
3.92
1.72
M, MDC
M, MDC
ME
ME
ME, MS
M, MDC
15 ft
13 ft
13 ft
13 ft
-
13.75 ft (rear units)
356
150
-
102
Use No. of Storeys Leaseable Area (SF) No. of Units
Zoning
(Former City of Scarborough)
Clear Height Surface Parking
314
DIVERSE TENANT ROSTER The Portfolio is 92% occupied by a diverse tenant roster, which utilizes the space for a wide range of light warehouse, showroom, retail, service, restaurant and office uses. Portfolio tenants comprise a mix of well-known national and regional groups, along with numerous established local businesses and operators, catering to the ethnically diverse local communities. Several of the existing tenants have been in occupancy for 20plus years, many of which are operators that enjoy the historically consistent daily traffic drawn to the centres. Notable tenants include Tim Horton’s, Service Ontario, Ten-Ichi Japanese, Babu, Mona’s Roti, Optical Thirty8 and Korean Grill House.
Portfolio Use Categories by NRA PORTFOLIO TENANTS BY TYPE 25%
Retail/Service 25%
Industrial 41% 41%
Restaurant
18% 18% Office
16% 16%
Industrial
Office
Restaurant
Retail/Service
HIGH PROFILE COMMERCIAL NODES The Portfolio is concentrated in two established commercial areas in Scarborough, occupying high profile locations with excellent exposure to pedestrian and vehicular traffic, while representing destination centres for local area residents. The Sheppard-McCowan node is situated 2.0km from Scarborough Town Centre in the Agincourt-Malvern neighbourhood, while the Midland-Finch node is situated 4.0km to the north, close to the intersection of Finch Avenue East and Kennedy Road. One of the properties of the Portfolio, 1085 Bellamy Road North, is situated in a rapidly intensifying mixed-use neighbourhood, just to the east of Scarborough Town Centre. The Portfolio is scheduled to benefit from enhanced higher-order public transit services. The Ontario Government’s $8.4 billion commitment through Metrolinx will deliver a new LRT to Sheppard Avenue East, connecting the Don Mills subway station to eastern Scarborough. This will further connect the subject neighbourhoods to the Greater Toronto Area and attract significant commercial and residential intensification. Agincourt GO station, situated less than 2.8km from the Sheppard Avenue East and Midland Avenue assets, provides excellent connectivity, together with the local Toronto Transit Commission (TTC) bus routes. The scheduled subway extension into the Scarborough Town Centre has expanded developer interest in the area, including Bellamy Road, with several larger mixed-use developments being contemplated. s Tap side
Rd
unt
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Rd
Shep
ast
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urt
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Shep
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ence
Lawr
Rd
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Mark
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SCARBOROUGH
Bella
NEW SUBWAY STOP
Orto
e Rd
mer
Elles
Scar
ve ark A ria P
re Futu
1085 Bellamy Rd. N.
T st LR
401
Yor
Ave
edy
hmo
4800, 4810 Sheppard Ave East 4820, 4830 Sheppard Ave East
Miln
ng unti
H
ning
ast
E Ave
Kenn
Birc
Pha
404
Mor
Ave
h Finc
Rd
land
cott
Mid
50, 70 Silver Star Blvd 3280, 3290, 3300 Midland Ave 3266 Midland Ave
st
a Ave E
ng st on
ton
Eglin
Ki
ast 1085 BellamyARd. ve E N.
Rd
ills Rd
Don M
4810 Sheppard Ave. E.
50 Silver Star Blvd. LAKE ONTARIO
FREE & CLEAR The Properties may be considered free and clear of any existing financing, enabling a prospective purchaser or purchasers to take advantage of low interest rates and maximize leveraged returns on the investment.
OFFERING PROCESS Interested parties will be required to execute and submit the Vendor’s form of Confidentiality Agreement prior to receiving detailed information about the Properties. Additionally, interested parties will be invited to submit a Letter of Intent (LOI) for the Property or Properties to be acquired, on a specific date that will be communicated by the Advisor at least fourteen (14) days in advance. All inquiries regarding the Properties should be directed to: Matt Picken* 416.304.6020 [email protected]
Bryce Gibson* 416.238.9785 [email protected]
Elliot Medoff* 416.238.9768 [email protected]
Euan Darling* 416.238.9961 [email protected]
*Sales Representative
JONES LANG LASALLE REAL ESTATE SERVICES INC. Bay Adelaide East, 22 Adelaide St. W., Suite 2600 Toronto, ON M5H 4E3 tel +1 416 304 6000 fax +1 416 304 6001 www.joneslanglasalle.ca
19.3
EAST
COMMERCIAL PORTFOLIO
92%
LEASED
TOTAL ACRES
266
294, 143 sf GLA
UNITS
MIXEDUSE PORTFOLIO INVESTMENT SUMMARY
THE OPPORTUNITY The Toronto East Commercial Portfolio (the “Portfolio”, the “Properties”) comprises six properties in the former Municipality of Scarborough, including industrial, retail and office, along with a vacant parcel of development land. Concentrated in two high-growth nodes, at Sheppard Avenue East and McCowan Road, and at Midland Avenue and Finch Avenue East, the Portfolio provides an extremely rare opportunity for potential investors to aggregate approximately 294,000 sf, distributed across 19.3 acres, situated along major commercial corridors and within diverse residential neighbourhoods in the eastern part of the City of Toronto.
50-70 Silver Star Blvd.
3300 Midland Ave.
3300 Midland Ave.
3280-3300 Midland Ave.
1085 Bellamy Rd. N.
4820-4830 Sheppard Ave. E.
4800-4810 Sheppard Ave. E.
UNIQUE ASSET MIX
POPULATION
• Diverse, Young Population • Strong Chinese & South Asian Cohort
The Portfolio includes a rarely available combination of income producing industrial, retail and office assets occupied by a diverse tenant base, along with a ready to be developed vacant land parcel, providing an exceptional opportunity for a buyer to acquire a dominant ownership position, all within a 5.0km radius. The proximity and physical clustering of the assets not only delivers management and operational synergies, but also allows for tremendous development opportunities over the long term.
INCOME • Diverse Tenant Mix
DEVELOPMENT
LOCATION
• High-Growth Nodes
• Mixed-Use Urban Nodes
• Smooth Lease Rollover
• 19.3 Urban Acres in Total
• Historically Loyal Tenancy
• 3.92 Acres Shovel Ready
• Transit Orientated, High Traffic Locations
PORTFOLIO SUMMARY The six-property Portfolio is 92% occupied and includes a total of 19.3 acres improved with 294,000 sf of existing buildings, a summary of which is provided below:
Property
4800-4810 4820-4830 Sheppard Ave. E. Sheppard Ave. E.
3280-3300 Midland Ave.
50-70 Silver Star Blvd.
3266 Midland Ave.
1085 Bellamy Rd. N.
Retail/ Industrial
Retail
Retail/Office
Retail Warehousing
Vacant Land
Retail/Office/ Industrial
One
One
One-Two
One
-
One-Two
62,534
19,797
73,626
100,915
-
37,271
52
29
59
87
-
39
Year Built
1982
1998
1986
1984
-
1981
Site Area (Acres)
3.49
1.55
3.36
5.29
3.92
1.72
M, MDC
M, MDC
ME
ME
ME, MS
M, MDC
15 ft
13 ft
13 ft
13 ft
-
13.75 ft (rear units)
356
150
-
102
Use No. of Storeys Leaseable Area (SF) No. of Units
Zoning
(Former City of Scarborough)
Clear Height Surface Parking
314
DIVERSE TENANT ROSTER The Portfolio is 92% occupied by a diverse tenant roster, which utilizes the space for a wide range of light warehouse, showroom, retail, service, restaurant and office uses. Portfolio tenants comprise a mix of well-known national and regional groups, along with numerous established local businesses and operators, catering to the ethnically diverse local communities. Several of the existing tenants have been in occupancy for 20plus years, many of which are operators that enjoy the historically consistent daily traffic drawn to the centres. Notable tenants include Tim Horton’s, Service Ontario, Ten-Ichi Japanese, Babu, Mona’s Roti, Optical Thirty8 and Korean Grill House.
Portfolio Use Categories by NRA PORTFOLIO TENANTS BY TYPE 25%
Retail/Service 25%
Industrial 41% 41%
Restaurant
18% 18% Office
16% 16%
Industrial
Office
Restaurant
Retail/Service
HIGH PROFILE COMMERCIAL NODES The Portfolio is concentrated in two established commercial areas in Scarborough, occupying high profile locations with excellent exposure to pedestrian and vehicular traffic, while representing destination centres for local area residents. The Sheppard-McCowan node is situated 2.0km from Scarborough Town Centre in the Agincourt-Malvern neighbourhood, while the Midland-Finch node is situated 4.0km to the north, close to the intersection of Finch Avenue East and Kennedy Road. One of the properties of the Portfolio, 1085 Bellamy Road North, is situated in a rapidly intensifying mixed-use neighbourhood, just to the east of Scarborough Town Centre. The Portfolio is scheduled to benefit from enhanced higher-order public transit services. The Ontario Government’s $8.4 billion commitment through Metrolinx will deliver a new LRT to Sheppard Avenue East, connecting the Don Mills subway station to eastern Scarborough. This will further connect the subject neighbourhoods to the Greater Toronto Area and attract significant commercial and residential intensification. Agincourt GO station, situated less than 2.8km from the Sheppard Avenue East and Midland Avenue assets, provides excellent connectivity, together with the local Toronto Transit Commission (TTC) bus routes. The scheduled subway extension into the Scarborough Town Centre has expanded developer interest in the area, including Bellamy Road, with several larger mixed-use developments being contemplated. s Tap side
Rd
unt
Av e et gg Nu
pard
Rd
Shep
ast
E Ave
rma
ve er A
co Agin
en Ward
ve cy A
urt
Victo
d Dr
woo
Ave
pard
Shep
Ea
rk Rd
gh C lub R d
ham Rd
ence
Lawr
Rd
ls R k Mil
n Pa
u boro
Mark
rth
d No
my R
owan
d
McC
d
ley R Brim
SCARBOROUGH
Bella
NEW SUBWAY STOP
Orto
e Rd
mer
Elles
Scar
ve ark A ria P
re Futu
1085 Bellamy Rd. N.
T st LR
401
Yor
Ave
edy
hmo
4800, 4810 Sheppard Ave East 4820, 4830 Sheppard Ave East
Miln
ng unti
H
ning
ast
E Ave
Kenn
Birc
Pha
404
Mor
Ave
h Finc
Rd
land
cott
Mid
50, 70 Silver Star Blvd 3280, 3290, 3300 Midland Ave 3266 Midland Ave
st
a Ave E
ng st on
ton
Eglin
Ki
ast 1085 BellamyARd. ve E N.
Rd
ills Rd
Don M
4810 Sheppard Ave. E.
50 Silver Star Blvd. LAKE ONTARIO
FREE & CLEAR The Properties may be considered free and clear of any existing financing, enabling a prospective purchaser or purchasers to take advantage of low interest rates and maximize leveraged returns on the investment.
OFFERING PROCESS Interested parties will be required to execute and submit the Vendor’s form of Confidentiality Agreement prior to receiving detailed information about the Properties. Additionally, interested parties will be invited to submit a Letter of Intent (LOI) for the Property or Properties to be acquired, on a specific date that will be communicated by the Advisor at least fourteen (14) days in advance. All inquiries regarding the Properties should be directed to: Matt Picken* 416.304.6020 [email protected]
Bryce Gibson* 416.238.9785 [email protected]
Elliot Medoff* 416.238.9768 [email protected]
Euan Darling* 416.238.9961 [email protected]
*Sales Representative
JONES LANG LASALLE REAL ESTATE SERVICES INC. Bay Adelaide East, 22 Adelaide St. W., Suite 2600 Toronto, ON M5H 4E3 tel +1 416 304 6000 fax +1 416 304 6001 www.joneslanglasalle.ca
