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For SalePickering Commercial Plaza
1644 - 1698 Bayly Street & 1016 Brock Road Pickering, ON
Elliot Medoff* Vice President+1 416 238 [email protected]
Bryce Gibson* Senior Vice President+1 416 238 [email protected]
*Sales Representative
Jones Lang LaSalle Real Estate Services Inc. (“JLL” and/or the “Advisor”) is pleased to
offer for sale a 100% freehold interest in 1644 - 1698 Bayly Street and 1016 Brock Road
(collectively the “Property”), over four and a half acres of land improved by three
retail-flex buildings in the city of Pickering. Pickering is a future growth center, as
designated by the Province of Ontario and Metrolinx, and is expected to double in size
by 2031. The asset is currently 96.9% leased to a strong and diverse tenant roster.
BROCK RD.
DOWNTOWN TORONTO
FRENCHMAN’S BAY
FAIRPORT RESIDENTIAL NEIGHBORHOOD
BAYL
Y ST
.
9
1
32 4
5
6
Highlights
GO Station
Loblaws
San Francisco 2
1
5
3
San Francisco 3
Home Depot
2
4
• Large land area of 4.66 acres
• Strategic Pickering location next to
HWY 401 and Pickering GO Station
• Superior quality retail flex asset
• Discount to replacement cost
HWY 401
6 78
Property Details
Sitea Area: 4.66 AC
Site Coverage: 39%
Total Building Area: 80,705 s.f.
Total # of Units: 20 Units
Unit Size Range: 1,000 - 11,629 s.f.
Zoning & Official Plan: MC-4/General Employment
Parking: 200 Surface Spaces (Approx.)
Occupancy: 97%
Average In-Place Rent: $6.75 p.s.f.
Average Term Remaining: 3.4 Years
Rare Retail Flex Asset with Strong Tenant RosterThe Property consists of three single storey multi-tenant retail-flex structures, with phenomenal ceiling heights, as well as loading doors and docks at the rear of the Property. Ample on-site parking services the tenants and customers alike at the bustling commercial plaza. The open floor plan along with high ceiling heights allows for a broad range of uses, including light manufacturing, warehousing, automotive work, along with traditional office and retail.
The Property is 97% leased, with major tenants including Factory Mattress (occupancy for over 30 years), Cars 101 (occupancy since 2011), Surplus Furniture (30 locations across Canada) and finally HDS Brafasco a publicly traded national supplier and distributor of construction tools with 42 active branches across the country.
Strategic Pickering LocationThe Property is strategically located on the northwest corner of Bayly Street and Brock Road, just south of Highway 401 and Downtown Pickering. The Pickering GO Station is located a short bus ride west from the Property, acting as a connector to Downtown Toronto, and the rest of the GTA.
Pickering is one of the municipalities in the GTHA (Greater Toronto & Hamilton Area) to be a designated as an Anchor Hub in Metrolinx’s Regional Transit Plan, and as a result the City of Pickering commissioned the South Pickering Intensification Study in January 2015, which will encourage growth and development in the immediate area near the Property. This growth can already be seen west on Bayly Street where Chestnut Hill Developments is currently in construction on Phase II and Phase III of their San Francisco By The Bay condominiums and townhouses.
Famous Players
PickeringTown Centre
Pickering Markets
7
6
9
Pickering City Hall8
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FinancingThe Property may be acquired free and clear of any existing financing, however, the Property is subject to first mortgage financing, which may be assumed on closing by the eventual purchaser, subject to Lender approval. Details of the Property’s mortgages are available on the Advisor’s virtual data site and in the Confidential Information Memorandum for the offering.
Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their represen-tatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2017. Jones Lang LaSalle. All rights reserved. *Sales Representative **Broker.
Offering ProcessJones Lang LaSalle Real Estate Services Inc. (“JLL” and/or the “Advisor”) has been exclusively retained by Bayly Brock Properties Ltd. to seek proposals to acquire the Property. Interested parties will be required to execute and submit the Vendor’s form of Confidentiality Agreement prior to receiving detailed information about the Property. Additionally, interested parties will be invited to submit a Letter of Intent or Agreement of Purchase and Sale on a specific date that will be communicated by the Advisor at least ten (10) days in advance.
For more informationplease contact:
Elliot Medoff* Vice President +1 416 238 9768 [email protected]
Bryce Gibson* Senior Vice President +1 416 238 9785 [email protected]
*Sales Representative
1644-52 BAYLY STREET 1016 BROCK ROAD
1698 BAYLY STREET
