- What A 70,000 sq ft Whitby industrial building is on the market
- Why Seller Shelborne Capital wants $233/sq ft
- What next The building has two long-time tenants
Shelborne Capital is looking to unload an industrial facility in the Greater Toronto Area for $16.3m, Green Street News can reveal.
The 70,000 sq ft property, at 1125 Burns Street East in Whitby, is fully occupied by two tenants. The asking price values the property at $233/sq ft. Lennard Commercial Realty has the marketing assignment.
Built in 1975, the Class-C building is on a 4-acre fenced lot. It has five truck loading doors and two at ground level, with a maximum clear height of 21 ft.
One of the tenants, a metal fabricator, has occupied a 50,000 sq ft space in the building for 11 years. The other, a freight-elevator manufacturer, has been at the property since 2014.
The building is just over a kilometre from the nearest on-ramp to Highway 401, via Thickson Road. The Port of Oshawa, a major lake shipping hub for the GTA, is under 8 km away. Toronto Pearson International Airport is 60 km away.
Shelborne Capital, founded by Nathan Bierbrier, is a private asset and property manager with a portfolio focused on GTA industrial and multifamily buildings.
1125 Burns last traded for $8m, or $114/sq ft, in late 2021, according to Green Street’s Sales Comps Database. The building was listed in 2023, but no sale occurred.
