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220-260 Lesmill Rd
Toronto, ON M3B 2T5
Flex Property For Sale
Investment Highlights
- Excellent access to Highways 401/404, the DVP, and major transit (TTC bus, Oriole Go Transit Station, Leslie TTC subway station)
- Property is 100% leased with WALT remaining of 3.4 years and a long history of high occupancy levels
Executive Summary
Institutional Property Advisors a division of Marcus & Millichap (the "Advisor" or IPA")on behalf of the the "Vendor" are pleased to offer for sale a 100% freehold interest in 220-260 Lesmill Road, North York, Ontario (the "Property").
Situated on a 5.1-acre land parcel, fronting on Lesmill Road south of Highway 401 and east of Leslie Street, the Property presents an exceptional opportunity for an investor to own a multi-tenant industrial building in an established affluent Toronto node and having historically low vacancy rate. With over 830 million square feet of inventory, the Greater Toronto Area (GTA) industrial market continues to demonstrate excellent market fundamentals, with current vacancy rate at 2.6% and a five year compounded annualized growth rate of 17% in net rents. Specifically, North York has one of the lowest current vacancy rates in the market sitting at 1.7%.
Totaling 114,873 square feet, the Property is 100% occupied by a well-balanced tenant mix, suited for the neighbourhood and has a weighted average lease term (WALT) remaining of 3.4 years. In-place rents are below market rents, providing an opportunity for substantial income growth in the short to medium term.
The Property offers a central location with immediate proximity to an array of retail and service amenities, convenient public transit, and highways.
Situated on a 5.1-acre land parcel, fronting on Lesmill Road south of Highway 401 and east of Leslie Street, the Property presents an exceptional opportunity for an investor to own a multi-tenant industrial building in an established affluent Toronto node and having historically low vacancy rate. With over 830 million square feet of inventory, the Greater Toronto Area (GTA) industrial market continues to demonstrate excellent market fundamentals, with current vacancy rate at 2.6% and a five year compounded annualized growth rate of 17% in net rents. Specifically, North York has one of the lowest current vacancy rates in the market sitting at 1.7%.
Totaling 114,873 square feet, the Property is 100% occupied by a well-balanced tenant mix, suited for the neighbourhood and has a weighted average lease term (WALT) remaining of 3.4 years. In-place rents are below market rents, providing an opportunity for substantial income growth in the short to medium term.
The Property offers a central location with immediate proximity to an array of retail and service amenities, convenient public transit, and highways.
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Flex | Year Built | 1968 |
| Property Subtype | Light Distribution | Parking Ratio | 1.61/1,000 SF |
| Building Class | C | Clear Ceiling Height | 15’ |
| Lot Size | 5.12 AC | No. Dock-High Doors/Loading | 11 |
| Rentable Building Area | 114,873 SF | ||
| Zoning | MO - Mixed USe | ||
| Sale Type | Investment |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | C |
| Lot Size | 5.12 AC |
| Rentable Building Area | 114,873 SF |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 1.61/1,000 SF |
| Clear Ceiling Height | 15’ |
| No. Dock-High Doors/Loading | 11 |
| Zoning | MO - Mixed USe |
Amenities
- Signage
Utilities
- Lighting
- Water
- Sewer
- Heating
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