- What A public owner is looking to offload 1 Scarsdale Road
- Why The building is tenanted by an animal hospital
- What next MFS Realty Services has the assignment
A commercial building in North York is on the block for $17m.
MFS Realty Services has the assignment for 1 Scarsdale Road on behalf of an unnamed public company. The valuation for the 18,000 sq ft building is $944/sq ft.
It’s tenanted by Toronto Animal Health Partners Emergency and Specialty Hospital. The clinic has occupied the space since 2019.
At the corner of Scarsdale Road and Bond Avenue, the building is 1.6 km from the Don Valley Parkway, 2.4 km from the Oriole GO station and within 3 km of Highways 401 and 404.
The property is zoned EL – Employment Light Industrial, permitting a range of uses including cold storage, office, warehouse and laboratory.
According to a report from Colliers, the office vacancy rate in the Don Mills-Eglinton submarket was 12% in Q1, slightly below the Greater Toronto Area average of 13.1%. The node reported over 95,520 sq ft of negative net absorption for the quarter, while average asking net rent slipped to $14.38/sq ft.
