- What Canderel Group has put 101 Bloor Street West on the block
- Why The building is fully leased to retail and office tenants
- What next CBRE has the assignment
A portion of a mixed-use office building in Toronto is on the block for $58m.
Canderel Group has given the assignment for 101 Bloor Street West to CBRE. Up for grabs is the strata title interest in ground-level retail space, basement storage and floors 2-6 of the commercial office tower.
Ontario College of Teachers owns the upper eight floors, which it purchased for $28.7m in 2009.
The 14-storey building was completed in 1970 and renovated in 2023. It spans 72,000 sq ft, of which approximately 57,600 sq ft is office space. There are three elevators.
It’s 100% leased to tenants including the Ontario Ministry of Children, Community and Social Services. Royal De Versailles and Rimowa occupy the retail space.
At the corner of Bloor Street West and St. Thomas Street, the building is surrounded by luxury retailers including Hermès, Burberry and Ferragamo. The Windsor Arms Hotel is adjacent to the property, while the Bay subway station, Yorkville Village and Yonge Street are within 400 m.
According to CBRE, retail leasing momentum was healthy throughout the second half of 2024, with asking net rents for the Bloor-Yorkville market ranging from $230/sq ft to $300/sq ft in H2.
Regarding office space in the area, average net asking rents were $30.19/sq ft in Q4, higher than the midtown average of $26.18/sq ft. The vacancy rate in the Bloor-Yonge submarket was 25.2%.
Canderel Group acquires, manages and develops commercial and residential real estate across Canada. Brett Miller is chief executive.
