- What A 356,000 sq ft industrial building is on the market in Kitchener, Ont.
- Why A local group of investors is selling the property
- What next The property is zoned for industrial use
A large-bay, heavy manufacturing facility up for sale in Southwestern Ontario is expected to fetch $60m, Green Street News can reveal.
A partnership of unnamed local investors wants $168/sq ft for the 356,000 sq ft property at 530 Manitou Drive in southeast Kitchener. JLL has the marketing assignment.
According to promotional materials, 39,000 sq ft of the building is dedicated for office use. There are 28 shipping doors, 21 at truck level and seven with drive-through access. The maximum clear height is 38 feet.
The one-storey building sits on a 20-acre lot at the intersection of Manitou Drive and Homer Watson Boulevard. It is zoned for manufacturing, logistics, outdoor storage and other industrial uses.
The property has undergone multiple building retrofits and was utilized in the past for cannabis processing. Its tenants include a warehousing and distribution company and a heavy transportation-equipment manufacturer.
The site is approximately 4km from the nearest Highway 401 on-ramp and 8 km from Region of Waterloo International Airport. John C. Munro Hamilton International Airport in Hamilton is 50 km away, and the U.S. border is less than 120 km away.
There is a bus stop 50 metres from the building.
