- What Nicola Real Estate is looking to sell the property at 25 Dyas Road for $24.3m
- Why The flex office-industrial building was shopped for $27.6m last year
- What next Colliers has the assignment
A flex office-industrial building in Toronto is back on the market for $24.3m, Green Street News can reveal.
The price guidance for the 75,000 sq ft at 25 Dyas Road equals just over $325/sq ft. It’s also available for lease at $16.95/sq ft.
Colliers has the assignment for Nicola Real Estate, a Vancouver-based shop.
Pricing represents a discount from the $27.6m, or $370/sq ft, price tag Cushman & Wakefield sought when it marketed the property last year.
The single-storey building is fully temperature controlled, and has clear heights ranging from roughly 14 to 16 feet. There are three truck-level doors, one drive-in door and 214 parking stalls. It’s zoned for Employment Industrial, which permits a variety of uses including laboratories, self-storage, warehouse and medical office.
The building is on over 4 acres near the intersection of Don Mills Road and York Mills Road. It’s within 2km of the Highway 401 and Don Valley Parkway interchange, the Oriole GO Station and CF Shops at Don Mills. More than 338,400 people with an average household income of $136,510 live within 5km.
Recent trades in the area, according to Green Street’s Sales Comps Database, include the sale of 150 and 156 Duncan Mill Road, a pair of industrial assets Ruth Reisman Ltd. sold to Access Storage in September for $30.3m, or $131/sq ft. In February 2024, Parallax Investments sold an office building at 180 Duncan Mill Road to Kingo Group for $28.1m, or $194/sq ft.
Nicola Real Estate is a vertically integrated asset management platform. It’s the in-house real estate team of Nicola Wealth, an independent private investment firm with over $17.2bn in assets. Chris Nicola leads the overall company as president.
