- What 25-49 Coldwater Road is on the block for $23.5m
- Why The flex property comprises small-bay and office space
- What next JLL has the assignment
A flex-office property in Toronto is in play for $23.5m, with the valuation translating to a year-one capitalization rate of 6%, Green Street News can reveal.
JLL has the assignment for 25-49 Coldwater Road on behalf of Northbridge Capital. The 54,184 sq ft property comprises small-bay and office space. It was completed in 1971.
Northbridge acquired the multi-tenant building in September 2020.
The industrial portion of the property has 16-feet clear heights and 12 truck-level doors. There are 132 surface parking stalls.
25-49 Coldwater Road is fully leased to a roster of tenants, including Volanté Systems, SGI Electrical Services and Sidac Systems. Average rents are $24/sq ft, and the weighted average remaining lease term is three years.
On a 2.7-acre lot near the intersection of Leslie Street and York Mills Road, the property is within 2.5 km of the Don Valley Parkway, Highway 401 and Highway 404. The Oriole GO station, Leslie station and Sheppard-Yonge station are within 5 km.
Northbridge Capital is a commercial real estate investment company headquartered in Toronto. Adam Lazier and Michael Lazier are managing partners.
