- What 20 Brock Road North is on the block
- Why The property includes a building with office and retail space as well as a warehouse
- What next JLL has the marketing assignment
A mixed-use property with development potential in Southwestern Ontario is being shopped for $9.7m.
JLL has the assignment for 20 Brock Road North. The sale includes a 12,000 sq ft office-and-retail building and a 27,000 sq ft warehouse. The valuation works out to about $250/sq ft.
It’s 100% leased to Ren’s Pets. The 4.9-acre property includes excess land that could be used for future expansion or redevelopment. The site is zoned highway commercial, permitting such uses as a business or professional office, commercial self-storage facility or financial institution.
In the township of Puslinch, 20 Brock Road North is 11 km southeast of Guelph. It’s 2 km from Highway 6, 3 km from Highway 401 and 10 km from Guelph Central Station. It’s less than 5 km from 24 Corporate Court, an office-and-laboratory building on the block for $3.5m, or $520/sq ft.
There was no industrial vacancy in Puslinch in Q3, according to Cushman & Wakefield, while the average in Guelph was 1.6%. Some 839,000 sq ft of space is under construction in the Puslinch submarket. Guelph’s suburban office market had a vacancy rate of 11.0%.
