- What A Scarborough industrial building with outdoor storage space is up for sale
- Why Colliers is pitching the site as an investment opportunity for a user-occupier
- What next Industrial property sales over $5m are poised to reach record levels this year for Scarborough, according to JLL
A freestanding Scarborough warehouse with space for outdoor storage is on the block for just under $10m.
Owner Catlen Holdings is seeking $388/sq ft for the roughly 26,000 sq ft property at 80 Howden Road. The industrial property, on 2.5 acres, has about 24,000 sq ft of warehouse space and 1,500 sq ft of office space.
Colliers is representing the seller. Marketing materials describe the site as ideal for industrial users with a need for outdoor storage space. The property has four drive-in shipping doors and a maximum height clearance of almost 19 feet.
The building is approximately 4 km away from the closest Highway 401 onramp at Kennedy Road. The Kennedy station transit hub — housing Kennedy subway station, a GO Transit rail stop and a future Eglinton Crosstown LRT connection — is also 4 km away.
Catlen Holdings bought the 71-year-old property in 2005, according to the Ontario Land Registry.
The property is occupied by Foundation Building Materials, a California-based construction supplies distributor. 80 Howden is expected to be available for possession as of early fall 2024.
So far in 2024, Scarborough industrial property sales over $5m have exceeded last year’s totals, and are poised to outperform 2021’s record activity of $487.1m, according to JLL.
In notable Scarborough industrial property deals this year, Secure Capital acquired a 161,000 sq ft warehouse at 1845 Birchmount Road from an undisclosed seller for $26.5m, or $165/sq ft, according to Green Street’s Sales Comps Database.
