- What A 28,000 sq ft industrial building in Toronto sold in late December
- Why Buyer Fiera Foods paid $241/sq ft
- What next The seller, Solignum, is continuing to operate at the address
Fiera Foods scooped up a Class-C industrial building in Toronto for $6.8m, Green Street News can reveal.
The Toronto-based baked goods maker paid seller Solignum $241/sq ft for the 28,000 sq ft property at 200 Norelco Drive, in the North York area. The deal closed on Dec. 20. Avison Young represented the seller.
The one-storey building, on 1.6 acres, is more than 55 years old and is the longtime base of operations for Solignum, which has operated in Toronto since 1907. The company is still at 200 Norelco after agreeing to a leaseback with Fiera that was negotiated separately from the sale.
According to marketing materials, the building has three shipping doors and can accommodate truck trailers up to 53 ft. The property is less than 500 m from the nearest onramp to Highway 400, connecting with major Ontario 400-series roadways including Highway 401 and Highway 407.
Toronto Pearson International Airport is 12 km away.
