- What Zentek has put 24 Corporate Court in play
- Why The property includes office and lab space
- What next The seller is looking to lease back the property for a year
An office and laboratory building in Guelph is on the market for $3.5m, Green Street News can reveal.
Nanotechnology developer Zentek owns the roughly 7,000 sq ft building at 24 Corporate Court and occupies it as its headquarters. The company is seeking to lease the property back for one year. Cushman & Wakefield is marketing the building unpriced, but guidance is $520/sq ft.
The lab space could be converted to a warehouse with the potential for two drive-in doors. Completed in 2003, the building has a 17-foot clear height.
The 1.2-acre lot includes excess land that could be used for future expansion, storage or additional parking. It’s zoned specialized service commercial, permitting uses ranging from an art gallery to a transportation depot.
24 Corporate Court is 320 m from the Hanlon Expressway, 5.5 km from Highway 401 and 6.6 km from Guelph Central Station. Known for its manufacturing and agricultural industries, Guelph is 70 km west of Toronto.
According to Cushman & Wakefield, the office vacancy rate in Guelph was 10.8% as of Q3, while the industrial vacancy rate was 1.6%. Both figures are below the respective averages of 19.9% and 4.3% seen in the Waterloo Region.
