- What An 84,000 sq ft tenanted industrial property is for sale in Hamilton
- Why An unidentified seller is asking $180/sq ft
- What next The property would be the city’s second industrial sale in 2025
A food-processing facility in Hamilton that’s fully leased and on the block for $15m would be a rare industrial sale for the city this year.
The nearly 84,000 sq ft industrial property, at 46 Community Avenue, has a valuation of $180/sq ft. In addition to food production and various heavy manufacturing uses, the building can accommodate warehousing and distribution.
eXp Realty’s Stoney Creek office has the assignment for the unidentified seller.
The Class-C building’s lone tenant, Lou’s Kitchen, is a ready-made food products supplier and wholesaler. The long-term lease provides steady income, marketing materials said.
Built in 1998, the two-storey property is on 1.5 acres and has a 5,000 sq ft commercial kitchen. There are four shipping doors – three for truck loading and one with drive-in access.
The building, in the Stoney Creek neighbourhood, is 2km from the nearest on-ramp to the Queen Elizabeth Way. John C. Munro Hamilton International Airport is 17km to the southwest, while Toronto Pearson International Airport is 53km north.
The closest U.S. border crossing, via the Peace Bridge spanning Fort Erie, Ont., and Buffalo, N.Y., is 73km to the southeast.
According to Green Street’s Sales Comps Database, the only other sale for a similar-size industrial property in Hamilton this year took place in late April. That’s when Hitachi Energy picked up a 68,000 sq ft warehouse at 180 Constellation Drive from Axia Real Assets for $21.2m.
