Institutional Property Advisors a division of Marcus & Millichap (the "Advisor" or "IPA) on behalf of the "Vendor" are pleased to offer for sale a 100% freehold interest in 772 Warden Avenue, Toronto, Ontario (the "Property").
Situated on a 3.9 acre parcel, fronting on Warden Avenue and South of Eglinton Avenue East, the Property presents an exceptional opportunity for an owner-user or investor to acquire a multi-tenant industrial building in the Greater Toronto Area (GTA), one of the strongest performing markets in North America with historically low vacancy rates. Specifically, Scarborough market has a low current vacancy rate of 1.3%, outperforming the overall GTA, and a current average asking rental rate of $16.66 PSF.
Totaling 81,152 square feet, the Property is 74.3% occupied with short-term tenants with no renewal options.
The property offers a central location with proximity to the Eglinton Crosstown Light Rail Transit (LRT) station, TTC subway and bus transit, the Kennedy GO train station and an array of necessity-based amenities. Located within the Golden mile neighbourhood, the Property benefits from having a large labour pool and growing population from the surrounding new residential developments.