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CBRE Limited (“CBRE” or the “Advisor”) is pleased to offer for sale an entirely freehold interest in 480 and 490 Adelaide Street West, Toronto (the “Property” or the “Site”), an exceptionally well-located and rare development site located in the heart of Toronto’s Entertainment District.
Situated on Adelaide Street West between Spadina Avenue and Bathurst Street, the assembled Site comprises nearly 10,000 square feet of land area in the heart of Downtown Toronto at the confluence of the Financial Core and the Entertainment and Fashion Districts. The Site offers direct access to a wealth of local amenities, including the best restaurants and nightlife in the City, and is a short distance from the City’s key drivers including the Financial Core, U of T, Ryerson, and the University Health Network.
Property Highlights
The Heart of Toronto:
The Site’s irreplaceable location in the Entertainment District is in close proximity to Toronto’s best restaurants, shopping, and entertainment venues. Further, Toronto’s Financial Core, the University Health Network, and the City’s key post-secondary educational institutions are all within immediate walking distance of this Property.
Transit Accessibility:
The Site is well-positioned directly between the 501 and 504 streetcar lines, providing access to the TTC subway and the Financial Core. Additionally, the Property is a short drive to the Gardiner Expressway, providing local and interregional connectivity.
Exceptional Market Fundamentals:
There are currently 27 active high rise developments in Downtown West, currently 86% presold at an average price of $1,060 per sq. ft. Toronto’s Downtown West area has a robust condominium market with approximately 10,360 units under construction today.
Meaningful Holding Income:
Current tenant operations generate a stable income pending redevelopment of the site. All leases are short-term and include demolition and/or termination clauses.
Downtown West
Downtown West is the epitome of urban lifestyle in Toronto, currently undergoing a dramatic transformation to feature the city’s most dynamic mix of flagship retail, luxury condominiums, world-class restaurants, nightlife and entertainment.
A focus on intensification and urban densification has led to a number of landmark condominium projects in support of the staggering population growth and demand for housing close to the downtown core. Recent residential development has generated exceptional demand for retail and employment uses in Downtown West garnering global recognition as a coveted location for start-up companies, new market entrants and affluent young professionals seeking the live-work-play lifestyle.
CBRE Limited is accepting offers on November 21st, 2018 by 3:00.
Interested parties will be invited to download and sign our confidentiality agreement which will grant access to our data room.
Confidentiality Agreements can be sent to:
Daniel Orellana
Toronto North
2005 Sheppard Avenue East
Suite 800
Toronto, ON | M2J 5B4
daniel.orellana@cbre.com
(416) 495-6233
Frank Protomanni**
Senior Vice President
416 495 6299
frank.protomanni@cbre.com
Casey T. Gallagher*
Executive Vice President
416 815 2398
casey.gallagher@cbre.com
Pat Viele*
Executive Vice President
416 495 6258
pat.viele@cbre.com
Alex Protomanni*
Sales Associate
416 495 6284
alex.protomanni@cbre.com
*Sales Representative
**Broker