- What An industrial building in Toronto is up for grabs
- Why The property is being marketed as a flex-use industrial building for a select buyer
- What next Pricing guidance is between $250 to $270/sq ft
An industrial building in Toronto is up for grabs, with pricing guidance between $250 to $270/sq ft, or approximately $19m, Green Street News can reveal.
The property, at 793 Pharmacy Avenue in the Scarborough area, is being shopped by Lennard Commercial Realty.
The 2-acre property is being marketed as a flex-use industrial building for a select buyer. Conversion to industrial uses is feasible, according to marketing materials.
It has 42,000 sq ft of industrial space, with five drive-in doors and a clear height of 36 feet, as well as 29,000 sq ft of office area.
The freestanding industrial/flex building is fully tenanted, and is set up for film and sound production with significantly under-market rents that could act as holding income.
Some of the tenants include Dark Slope and Maniac Productions, a film and television company.
Nearby, at least eight preconstruction housing developments are within 4 km of the property.
The property is in an Employment Industrial Zone, allowing for a wide range of uses including cold storage, manufacturing, artist studio and office.
