- What A private Ontario-based investor has put 1977 Baseline Road West in play
- Why The seller is putting together a site plan application for the vacant property
- What next Zoning allows for a variety of industrial uses
A swath of vacant industrial land in Southern Ontario is eyeing bids of up to $28m, Green Street News can reveal.
A private Ontario-based investor has floated 1977 Baseline Road West in Clarington. The 14-acre property is being shopped unpriced, but guidance is $1.5m/acre to $2m/acre. RE/MAX President Realty has the assignment.
According to Green Street’s Sales Comps Database, the parcel last traded in March 2023 for $7.4m, or $525,000/acre.
The seller is currently working on a site plan application to permit a truck and trailer parking yard, but no proposal has been submitted to the municipality.
It’s zoned M1 – light industrial and M2 – general industrial, permitting a range of uses including a warehouse, manufacturing plant and outdoor storage.
At the corner of Baseline Road and Solina Road, the parcel is within 500m of Highways 401 and 418, and 2km from Darlington Nuclear Generating Station.
Recent land trades in the area include 487-489 and 513-517 Bloor Street East in Oshawa, which sold in December for $5.4m, or $1,350,000/acre, according to Green Street’s Database. In January 2024, Bowmanville’s 605-685 Lake Road went for $10.5m, or just over $1m/acre.
Clarington is in Durham Region, 57km east of downtown Toronto.
