- What Camwood Properties is looking to offload 269-273 and 277 Richmond Street West
- Why The buildings comprise office and retail space
- What next Avison Young is marketing the properties
A strip of mixed-use office buildings in downtown Toronto has been floated for a combined $11m.
Avison Young has the assignment for 269-273 and 277 Richmond Street West on behalf of Camwood Properties. The buildings comprise office and retail space.
269-273 Richmond are listed for $8.1m. The valuation for the buildings, which are a combined 13,000 sq ft, is $615/sq ft. Tenants include FZN Naturopathic Medicine & Wellness Clinic, Grapevine Executive Recruiters and Say Word Osteopathy.
277 Richmond is on the market for $2.8m. The valuation for the 4,900 sq ft property is $582/sq ft. Inkubo leases space in the building.
Per marketing materials, gross rents for available units are $37/sq ft. The buildings were completed in 1960 and renovated in 2013. They’re zoned CRE – commercial residential employment zone, permitting uses including a community centre, medical clinic or postsecondary school.
They’re within 500 m of Spadina Avenue, University Avenue and Osgoode subway station. The Gardiner Expressway and Union Station are 1 km away.
According to Avison Young, the office vacancy rate in downtown Toronto was 16% in Q4 2024. Approximately 2m sq ft of space remains under construction.
