- What A numbered company is looking to offload 5106 Timberlea Boulevard
- Why The valuation works out to $477/sq ft
- What next HomeLife Broadway Realty has the assignment
A mixed-use office building in Mississauga is on the block for $16m, Green Street News can reveal.
HomeLife Broadway Realty has the assignment for 5106 Timberlea Boulevard on behalf of a numbered company. The building comprises warehouse and office spaces.
The valuation for the roughly 34,000 sq ft asset is $477/sq ft. Tenants include Provincial Property Management, which has leased the second-floor office space until December 2025, and Maple Supply Chain Management.
There are five truck-level doors and on-site parking. According to the marketing campaign, the building can be divided into three units.
5106 Timberlea Boulevard is on 1.7 acres. Eglinton Avenue East, Highway 403 and several MiWay bus stops are within 500 m. Toronto Pearson International Airport, Cooksville GO station and Highways 401 and 410 are within 5 km.
As of Q3, the office vacancy rate in the Airport Corporate Centre was 21.2%, according to CBRE, while the average for the GTA West was 18.7%. Mississauga’s industrial vacancy rate was 2.5%.
Several office buildings within 5 km of 5106 Timberlea Boulevard are in play, including 2350 Matheson Boulevard East, 5180 Orbitor Drive, 5205 Satellite Drive and 5350 Creekbank Road. The assets, all listed since August, are asking $12.5m to $24.4m
