- What 1600 Stellar Drive in Whitby, Ont., is in play
- Why The valuation works out to $195/sq ft
- What next Bay Street Group Inc. is marketing the property
An office building in Southern Ontario is on the block for $16m.
Bay Street Group Inc. has the assignment for 1600 Stellar Drive in Whitby on behalf of a private investor. The valuation for the 82,000 sq ft building is $195/sq ft.
Marketing is targeting owner-occupiers. Approximately 11,000 sq ft is vacant and a 21,000 sq ft space on the ground floor will be available on Nov. 1. Asking net rents range from $10/sq ft to $15/sq ft, according to leasing materials from CBRE.
The five-storey building was completed in 1989. There are 274 surface parking spaces. Tenants include Distinct Insurance, NeuroChangers and Ontario Power Generation.
On 3 acres, 1600 Stellar Drive is 100 m from Thickson Road South, 400 m from Highway 401 and 6 km from Highway 412. Whitby GO Station is within 3 km and Durham Region Transit runs nearby.
The property is zoned M1A – prestige industrial, which permits a variety of uses including a research-and-development facility, an assembly or manufacturing plant, a warehouse and a bank.
Whitby is in Durham Region, part of the Greater Toronto Area. It’s 45 km from downtown Toronto.
