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| (cont. from pg.1) |
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| creative companies populate the Downtown West market, which is in a mature phase for both leasing and selling. The area has a considerable amount of condo projects being developed. Of interest are such projects as Liberty Village Lofts, King Towns of High-rise, and many others. |
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| With over 5,000 employees working in the creative and hi-tech fields, the area is reputed to have more internet bandwidth than all of Italy. |
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| The creation of the new green P Parking area has alleviated the parking supply problem. There are few good buildings left for sale in the Liberty Village area, however if one is to look further north along Queen St., Spadina Ave. or Camden St., properties for sale can still be found at attractive prices. One example would be the Threatre Centre building on Queen St. W that sold for $3.2M. Prices range from $95.00 to $150 per sq.ft. depending on the location and the condition of the building. |
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| The west side is still growing with many restaurants in the area along with a vast amount of new residential development and infrastructure to support the area's dramatic growth over the last ten years. |
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| Rents range from approximately $20.00 per sq.ft gross to $28.00 per sq.ft. gross on a lease basis. |
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| CASE STUDY: 384 Adelaide St |
| 5 floors with finished basement fronting on Adelaide St. E at Spadina. Building sold for between $4.0 to $4.3M |
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| The architect is leasing the top three floors and renting out the second and lower floor. |
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| Downtown East: |
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| DT east is where DT west was 15 years ago. This market is still in transition for both leasing and selling. The area has a considerable amount of condo projects being developed and in the last 10 years has seen a dramatic change in building. Of interest is the condo boom with projects such as King George Square, The VU, Kings Court, and many others. Within a 3 km. radius there are over 3,000 either new or on the books condos being built. |
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| This area is still undervalued and would be an attractive area to consider buying a building. It is similar to Greenwich Village in NY City prior to major development. The area includes the Distillery District anchored by the old Gooderham & Worts building and is already mirroring DT West's popularity with the creative and hi-tech industries. |
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In addition, the West Donlands property which consists of approximately 80 acres of Land is being developed with supported by all three levels of government. It will have office, retail and low income housing as well as park land when completed in 2008. |
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| Regent Park is the oldest non-profit housing community in Canada and consists of many buildings. It will be demolished and rebuilt into a modern complex over the next few years. |
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| In addition to the SAS building on King St. E. across from the Toronto Sun building,which has just been completed; two new Green buildings are scheduled for development over the next three years. The largest project is a 350,000 sq.ft. office building at Richmond St. E. and Sherbourne. |
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| 272 Richmond St. is on the market for sale at $2.1M or lease at approximately $21.00 semi gross per sq.ft. and would make a perfect design build opportunity for a larger Tenant that wishes to be in a single tenant building for up to 18,000 sq.ft. |
(see case study on next page) |
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