Post on 27-Sep-2020
transcript
PRIME DOWNTOWN INVESTMENT OPPORTUNITYCONFIDENTIAL INFORMATION MEMORANDUM
259COLLEGE STREET
THE OFFERING
INVESTMENT HIGHLIGHTS
CBRE Limited (“CBRE” or the “Advisor”) on behalf of 2625547 ONTARIO LTD. (“the Vendor”) is pleased to offer for sale 259 College Street (“the Property”), a highly coveted asset situated next to the corner of College Street and Spadina Avenue. The Property consists of 1,748 sq. ft. of ground floor commercial space, 2,389 sq. ft. of residential space over the second and third floors, as well as a 722 sq. ft. basement.
• One ground floor retail store with basement along with 3 large residential units
• This site is located amongst many high profile national tenants and is visible from the Spadina streetcar that services the entertainment district, financial core and the Rogers Centre
• Development potential
• Busy intersection with heavy vehicular and pedestrian traffic
• Next door to CampusOne TO, a 890 bed University of Toronto affiliated student residence building
• Neighbouring retailers and key traffic generators include Rexall, LCBO, McCafe, Chinatown, University of Toronto and Kensington Market
• 3 on-site parking spaces-see Data Room for further salient details on parking leases and encumbrances
SEALED BIDS DUE BEFORE 2 PM ON FEBRUARY 18th, 2020
1 | CONFIDENTIAL INFORMATION MEMORANDUM CONFIDENTIAL INFORMATION MEMORANDUM | 2
PROPERTY OVERVIEW
Land: 3,208 sq. ft.Frontage: 27.83 ft. Depth: 118 ft.
Leasable Area: Ground:Second:Third:Total:
1,784 sq. ft.1,771 sq. ft.618 sq. ft.4,173 sq. ft.
+basement: 722 sq. ft.
Zoning: CRE 3.0 (c2.0; r2.5) SS2 (x2363)
SPADINA AVENUE
COLLEGE STREET
3 | CONFIDENTIAL INFORMATION MEMORANDUM CONFIDENTIAL INFORMATION MEMORANDUM | 4
GROUND | 1,784 sq. ft.
CO
LL
EG
E S
TR
EE
T
THIRD | 618 sq. ft.
BASEMENT| 722 sq. ft.SECOND | 1,771 sq. ft.
259 College StreetToronto, Ontario
Canada
mail@xmeasures.com
Tel: 1-877-963-2787
16/07/2019Prepared:
Measured:
Version:
1-877-402-4690Fax:
www.xmeasures.com
Client: 2625547 Ontario Inc
2625547 Ontario Inc
feet
0 4 8
This work product has been prepared by ExtremeMeasures Inc. pursuant to a contract with the Clientfor the sole benefit of and use by the Client. No thirdparty may rely on this work product without the receiptof a reliance letter from Extreme Measures Inc.
Floor B1
09/07/2019FP1A
UP
UP
19'-0"
19'-8"
8'-2"
17'-0"
22'-9"
CH=6'-0"(TYP.)
MECH/ELEC.ROOM
MECH/ELEC.ROOM
722 sq ftGross Leasable Area*
*Area determined according to:ANSI Z65.5-2010 Retail
Common Area*
449 sq ft
259 College StreetToronto, Ontario
Canada
mail@xmeasures.com
Tel: 1-877-963-2787
16/07/2019Prepared:
Measured:
Version:
1-877-402-4690Fax:
www.xmeasures.com
Client: 2625547 Ontario Inc
2625547 Ontario Inc
feet
0 4 8
This work product has been prepared by ExtremeMeasures Inc. pursuant to a contract with the Clientfor the sole benefit of and use by the Client. No thirdparty may rely on this work product without the receiptof a reliance letter from Extreme Measures Inc.
Floor 02
09/07/2019FP1A
UP
DN
DN
UP
UP
DN
x9'-10"
11'-11"
15'-3"13'-7"
12'-10"
11'-9"
7'-4"
7'-4"
17'-11"
17'-1"
15'-2"
12'-8"
13'-4"
11'-8"
13'-4"
14'-11"
13'-6"
7'-6"
PATIO
12 3CH=8'-4" CH=10'-5"
*Area determined according to:ANSI Z65.4-2010 Residential
898 sq ft873 sq ft
27 sq ft
Unit 1 Area:Unit 2 Area:Unit 3 Area:
Living Unit Area*
259 College StreetToronto, Ontario
Canada
mail@xmeasures.com
Tel: 1-877-963-2787
16/07/2019Prepared:
Measured:
Version:
1-877-402-4690Fax:
www.xmeasures.com
Client: 2625547 Ontario Inc
2625547 Ontario Inc
UP
UP
UP
DN
DN
UP
x11'-6"
10'-9"
27'-3"16'-8"11'-5"
14'-9"
9'-0" 6'-11" 10'-11"18'-3"
21'-0"
21'-9"
19'-8"
25'-4"
9'-1"
ELEC.
DOORBLOCKED
CH=9'-5"CH=10'-0"
CH=8'-0"
(NOT INCLUDEDIN GROUND FLOOR GLA)
feet
0 4 8
This work product has been prepared by ExtremeMeasures Inc. pursuant to a contract with the Clientfor the sole benefit of and use by the Client. No thirdparty may rely on this work product without the receiptof a reliance letter from Extreme Measures Inc.
Floor 01
09/07/2019FP1A
1,784 sq ftGross Leasable Area*
*Area determined according to:ANSI Z65.5-2010 Retail
259 College StreetToronto, Ontario
Canada
mail@xmeasures.com
Tel: 1-877-963-2787
16/07/2019Prepared:
Measured:
Version:
1-877-402-4690Fax:
www.xmeasures.com
Client: 2625547 Ontario Inc
2625547 Ontario Inc
feet
0 4 8
This work product has been prepared by ExtremeMeasures Inc. pursuant to a contract with the Clientfor the sole benefit of and use by the Client. No thirdparty may rely on this work product without the receiptof a reliance letter from Extreme Measures Inc.
Floor 03
09/07/2019FP1A
DN
DN
x7'-7"
5'-2"
12'-11"
9'-11" 12'-2"
15'-1"
9'-9"
25'-5"
14'-7"
6'-0"
15'-0"
18'-8" 3
PATIO CH=9'-4"*Area determined according to:ANSI Z65.4-2010 Residential
Living Unit Area*
618 sq ft
5 | CONFIDENTIAL INFORMATION MEMORANDUM CONFIDENTIAL INFORMATION MEMORANDUM | 6
LOCATION OVERVIEW259 College Street occupies a premier position next to the busy intersection of Spadina and College, where Chinatown, Kensington Market and the Uni-versity of Toronto meet.
CHINATOWNSpadina Avenue is a major north-west thoroughfare leading right into the heart downtown west. This section of Spadina is home to Chinatown, one of North America’s largest Chinatowns, and is packed with a diverse set of shops and restaurants covering a wide variety of Chinese and oth-er Asian cuisines. Foot traffic in Chinatown is heavy 24/7, attracting both locals and tourist alike.
KENSINGTON MARKETKensington Market, just west of Chinatown, is the bohemian heart of Canada, where you will find an abundance of independent stores, bars, vintage shops and authentic restaurants. The neighbourhood is one of the most unique, most photographed, and liveliest areas of the city. From May-October, the area goes car-free on every last Sunday of the month and the streets fill with pedestrians, music, street performers and food stalls.
UNIVERSITY OF TORONTOThe Property also greatly benefits from it’s proximity to the University of Toronto, one of the world’s top research-intensive universities. The St. George campus has a total of 61,690 students, many of which are on campus each day. Over 6,500 live directly on campus in one of 11 student residences. The retail environment on College Street caters to that of university students, and includes art supply stores, casual eateries and bars.
259COLLEGE STREET
Fan
cy F
ran
ks H
ot
Do
gs
Sta
rba
nk
Seco
nd
Cu
p
KE
NSI
NG
TON
M
AR
KE
T
CH
INA
TOW
N
UNIVERSITY OF TORONTO
ST. GEORGE CAMPUS
CIB
C
Ho
me
Ha
rdw
are
Fres
ca P
izza
Urb
an
Cyc
list
Ca
na
da
C
omp
uter
s
7 El
even
Tim
Hor
ton
sB
urg
er K
ing
Rex
all
Jum
p +
Da
k La
kM
i’Hit
o Su
shi
Ind
epen
den
t C
ity
Ma
rket
Col
leg
e St
reet
Den
tal
Ca
mp
usO
ne
Stu
den
t Li
vin
g
McC
afe
Toro
nto
Pu
blic
Lib
rary
Con
do
Dev
elop
men
t
Ein
-Ste
in B
ier
Ha
lle
Res
iden
tia
l
Toos
e A
rt S
up
plie
s
Theo
ry C
ond
o D
evel
opm
ent
Sub
wa
yP
ren
up
Pu
b
Fat
Ba
sta
rd B
urr
ito
O’G
rad
y’s
On
tari
o Po
wer
Bu
ildin
g
Princess Margaret Hospital
Mt.SinaiHospital
Ma
RS
Dis
cove
ry D
istr
ict
Popeye’s
Pizza Nova
COLLEGE AVENUE
SPA
DIN
A A
VE
NU
ESP
AD
INA
AV
EN
UE
UN
IVE
RSI
TY A
VE
NU
E
QUEENS PARK
HU
RO
N S
TRE
ETRO
BE
RT
STR
EE
T
ST. G
EO
RG
E S
TRE
ET
BE
VE
RLE
Y S
TRE
ET
259 College Street
Subway Line
Streetcar Line
7 | CONFIDENTIAL INFORMATION MEMORANDUM CONFIDENTIAL INFORMATION MEMORANDUM | 8
259COLLEGE STREET
QUEEN’S PARKSTATION
ST. PATRICK STATION
OSGOODESTATION
M
M
SPADINASTREETCAR
CONNECTIVITY
98WALK SCORE
100TRANSIT SCORE
259 College Street occupies a premier position next to the corner of Spadina Avenue and College Street. Spadina Avenue is a prominent street in Toronto, running through the western section of Downtown. It has six lanes and features dedicated lanes for the 510 Spadina streetcar, providing direct access to the downtown core as well as the Spadina subway station on the Bloor-Danforth subway line.
The Property is also located directly on the east-west 506 College streetcar line. This streetcar provides quick access to Queen’s Park subway station, connecting the site to the Yonge University subway line in under 10 minutes.
COLLEGE STREETCAR
QUEENSTREETCAR
M
9 | CONFIDENTIAL INFORMATION MEMORANDUM CONFIDENTIAL INFORMATION MEMORANDUM | 10
University of Toronto Looking south down Spadina Avenue
Entrance to Kensington MarketNeighbouring Student HousingNeighbourhood Retail
11 | CONFIDENTIAL INFORMATION MEMORANDUM CONFIDENTIAL INFORMATION MEMORANDUM | 12
Arlin Markowitz*Senior Vice President
416 815 2374 arlin.markowitz@cbre.com
Alex Edmison*Senior Vice President
416 874 7266 alex.edmison@cbre.com
Jackson Turner**Associate Vice President
416 815 2394 jackson.turner@cbre.com
Teddy TaggartSales Represenative
416 847 3254 teddy.taggart@cbre.com
*Sales Representative, **Broker
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.
CONTACTFor more information