- What Metcorp is looking to rent out a turnkey York industrial property where it operates a furniture showroom and warehouse
- Why The company intends to relocate its operations to another building it owns in the area
- What next Avison Young is marketing the site as an opportunity to lease commercial space for a retail or industrial operation
A 63,000 sq ft showroom/industrial property owned by an upscale furniture company in Toronto’s northwest suburb of York is up for lease for $21.95/sq ft.
The property, at 1381 Castlefield Avenue, serves as a showroom and warehouse for Metcorp’s Mkt brand. The company plans to relocate those operations to another property it owns on the same road. The area is a hub for home-decor and design businesses.
The family-owned company has operated in Toronto for some 100 years. Metcorp acquired the building in 2006 for $5.5m, according to property records.
Avison Young has the marketing assignment and is pitching the site to prospective bidders as an opportunity to occupy space in a turnkey industrial building that could serve as a flagship retail location or company headquarters. Metcorp is looking for a minimum lease term of five years.
Promotional materials highlight the building’s proximity to major transportation connections. The closest Highway 401 on-ramp, at Keele Street, is 3 km away. A future stop for the under-construction Eglinton Crosstown light-rail line, at the intersection of Eglinton Avenue West and Caledonia Road, is less than 1 km away.
The building comprises roughly 45,000 sq ft of retail space, nearly 13,000 sq ft of industrial space and 6,000 sq ft of office space. There are five drive-in shipping doors, plus one at truck level, and two sets of double doors. The maximum ceiling height is 14 feet.
There are 134 surface parking spaces on site, with the ability to lease additional stalls from an adjacent lot that is not owned by Metcorp.
