- What A 24,000 sq ft industrial building has changed hands in an off-market deal
- Why Buyer Scott Forest Products paid $795/sq ft
- What next The property is zoned for outdoor storage
An industrial property in Northwest Toronto has traded for $19m in an off-market deal, Green Street News can reveal.
North York, Ont.-based lumber supplier Scott Forest Products paid a private seller $795/sq ft for the 24,000 sq ft building at 38 Taber Road in an industrial node of the Etobicoke area. CBRE brokered the sale, which closed in late October.
According to marketing materials, 38 Taber is on 4 acres and zoned for outdoor storage. The 60-year-old building was vacant at the time of purchase. It has a clear height of 12 feet with four drive-in doors. There is 3,000 sq ft of available office space, and the building’s original roof was replaced in 2014.
The building, in the Rexdale neighbourhood, is 4 km away from the nearest on-ramp to Highway 27, at Albion Road, which connects to several 400-series provincial highways including Highway 401 and the 407 toll expressway.
Toronto Pearson International Airport is 6 km away. The closest transit stop is under 500 m away.
