Prime Yonge Street retail oPPortunitY · JORDan KaRp* Vice President Retail Advisory Services...
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NORTH NORTH YONGE STREET SHERWOOD AVENUE YONGE STREET SHERWOOD AVENUE SHELDRAKE BOULEVARD SHELDRAKE BOULEVARD FOR SALE PRIME YONGE STREET RETAIL OPPORTUNITY 2577-2581 YONGE STREET, TORONTO An exceptional opportunity to acquire three retail storefronts with a combined exposure of 56.50 feet on Yonge Street, as well as offering several options for repositioning.
Transcript of Prime Yonge Street retail oPPortunitY · JORDan KaRp* Vice President Retail Advisory Services...
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YONGE STREET SHER
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Prime Yonge Street retail oPPortunitY 2577-2581 Yonge Street, toronto
An exceptional opportunity to acquire three retail storefronts with a combined exposure of 56.50 feet on Yonge Street, as well as offering several options for repositioning.
These statements are based upon the information furnished by the principal and sources, which we deem reliable - for which we assume no responsibility and is subject to verification during a formal due diligence period. this submission is made subject to prior sale, change in price or terms, or withdrawal without notice. Prospective purchasers should not construe this information as legal or tax advice. Legal counsel, accountants or other advisors should be consulted, if desired, on matters related to this presentation. *Sales Representative ** Broker
ELLIOT MEDOFF*Vice President Capital Markets Group
Ryan MOREIn*Retail Advisory Services
nOaH RECHTSMan*Vice President Capital Markets Group
JORDan KaRp*Vice President Retail Advisory Services
nICK yanOVSKI**Managing Director Capital Markets Group
Cushman & Wakefield Ltd., Brokeragewww.cushmanwakefield.com
Paracom Realty Corporation, Brokeragewww.paracom.ca
offering guideLineS Cushman & Wakefield Ltd., Brokerage and Paracom Realty Corporation, Brokerage have been retained by 2376052 & 2376054 ontario Limited (the “Vendor”) as advisors (“Advisors”) to seek proposals for the disposition of 2577-2581 Yonge Street, toronto (collectively the “Property”). the Vendor will consider the sale of the Property in its entirety, but reserves the right to sell the assets individually. the Vendor’s objective is to maximize sale proceeds and preference will be given to offers with limited (or no) conditionality and a timely closing.
Based on information contained herein, and other information that may be made available by the Advisors or Vendor, interested parties are invited to submit a letter of intent to purchase (“offer”) that addresses the requirements outlined under the heading “offering guidelines”. initial offers, regardless of form and content, will not create any binding legal obligations upon the Vendor or the Advisors. the Vendor is under no obligation to select any of the offers and reserves the right to amend the offering procedure at any time and without notice.
for more information, please contact the listing agents, or visit: www.cw-cm.ca/2577-2581yongestreet
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ProPertY detAiLS 2577 YONGE 2579 YONGE 2581 YONGE Combined Site Area: 9,953 sfSite Area: 3,608 sf 2,843 sf 2,622 sf Combined Frontage: 56.50 ftFrontage: 22.02 ft 17.45 ft 17.03 ft Depth: 172.00 ft 169.95 ft 167.95 ft Zoning: MCR T3.0 C2.0 R2.5 Official Plan: Mixed UseBuilding Area: Above Grade: 3,500 sf 5,400 sf 3,300 sf Lower Level: - 1,800 sf 1,100 sfStoreys: 2 3 3 * All measurements are approximate
KeY HigHLigHtS • Excellent location in the heart of midtown – east side of Yonge Street just north of Sherwood Avenue• Prominent combined frontage of 56.50 feet on Yonge Street – Excellent signage and branding opportunities• Several options available for repositioning the buildings – provides flexibility for various tenant layouts• Rapidly growing trade area due to residential intensification • 160,000 residents, daytime population of 156,000 and labour force of 77,000 persons within the primary trade area (3 km range)
LoCAtion The properties are located on the east side of Yonge Street between Sherwood Avenue and Sheldrake Boulevard in the heart of midtown toronto. the Yonge-eglinton area is known as one of the most vibrant neighbourhoods in the city of toronto, due to its proximity to lifestyle amenities including shopping, restaurants, nightlife and transit. Many local, national and international retailers are represented on this portion of Yonge Street including lululemon, gap, Sporting Life, Starbucks, L’occitane, Mendocino and many others. The Yonge-Eglinton Centre is undergoing a $100M renovation including the addition the Cube, a new 40,000 square foot retail concept anchored by Joe Fresh. Demand for retail amenities is increasing, due to the significant high density residential development activity in the vicinity, attracting many young professionals. Major projects within a few blocks of the property include e Condos, 101 erskine, Neon, 30 Roe and The Madison.
2577 yOngE STREET: $4,250,0002579 yOngE STREET: $3,300,0002581 yOngE STREET: $3,100,000
rePoSitioning oPPortunitieS Conceptual plans have been created to demonstrate various tenant layouts that can be accomplished from a repositioning of the property. these include:• A full repositioning of all three buildings to create one, single tenant building (two storey (approx. 16,000 sf) / three storey (approx.
24,000 sf))• Repositioning of 2579-2581 Yonge Street to create a single tenant building (two storey (approx. 9,000 sf) / three storey (approx. 13,500
sf)) – Leave 2577 Yonge Street as-is• Renovate / reconfigure 2577 Yonge Street, leave 2579-2581 Yonge Street as-isthe potential to mass additional density exists through the assembly of ajoining properties to the north and east. AreA retAiLerS
2577 Yonge St.2579 Yonge St.2581 Yonge St.
These statements are based upon the information furnished by the principal and sources, which we deem reliable - for which we assume no responsibility and is subject to verification during a formal due diligence period. this submission is made subject to prior sale, change in price or terms, or withdrawal without notice. Prospective purchasers should not construe this information as legal or tax advice. Legal counsel, accountants or other advisors should be consulted, if desired, on matters related to this presentation. *Sales Representative ** Broker
ELLIOT MEDOFF*Vice President Capital Markets Group
Ryan MOREIn*Retail Advisory Services
nOaH RECHTSMan*Vice President Capital Markets Group
JORDan KaRp*Vice President Retail Advisory Services
nICK yanOVSKI**Managing Director Capital Markets Group
Cushman & Wakefield Ltd., Brokeragewww.cushmanwakefield.com
Paracom Realty Corporation, Brokeragewww.paracom.ca
offering guideLineS Cushman & Wakefield Ltd., Brokerage and Paracom Realty Corporation, Brokerage have been retained by 2376052 & 2376054 ontario Limited (the “Vendor”) as advisors (“Advisors”) to seek proposals for the disposition of 2577-2581 Yonge Street, toronto (collectively the “Property”). the Vendor will consider the sale of the Property in its entirety, but reserves the right to sell the assets individually. the Vendor’s objective is to maximize sale proceeds and preference will be given to offers with limited (or no) conditionality and a timely closing.
Based on information contained herein, and other information that may be made available by the Advisors or Vendor, interested parties are invited to submit a letter of intent to purchase (“offer”) that addresses the requirements outlined under the heading “offering guidelines”. initial offers, regardless of form and content, will not create any binding legal obligations upon the Vendor or the Advisors. the Vendor is under no obligation to select any of the offers and reserves the right to amend the offering procedure at any time and without notice.
for more information, please contact the listing agents, or visit: www.cw-cm.ca/2577-2581yongestreet
NORTHNORTH
YONG
E ST
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SHERWOOD AVENUE BRIAR HILL AVENUE
EGLINTON AVENUE
YONGE-EGLINTONCENTRE
YONG
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SHERWOOD AVENUE BRIAR HILL AVENUE
EGLINTON AVENUE
YONGE-EGLINTONCENTRE
