22 COLLEGE MIXED-USE INVESTMENT OPPORTUNITY
INVESTMENT SUMMARY THE OPPORTUNITY
22 COLLEGE STREET (the “Property”, “22 College”) represents a unique opportunity to acquire a 100% freehold interest in a boutique, mixed-use building in Downtown Toronto.
Originally constructed in 1910, 22 College comprises an attractive five-storey, 33,514 sf building with unique architectural aesthetics and exceptional streetfront exposure at the epicenter of Toronto’s Downtown North node. The Property is currently 100% occupied by the London School of Business and Finance (LSBF) until April 2020.
PROPERTY SUMMARY
SITE AREA 0.14 acres (~6,000 sf)
YEAR BUILT (RENOVATED) 1910 (2013)
NUMBER OF STOREYS 5 (plus lower level)
NET RENTABLE AREA 33,514 sf (BOMA 1996)
GROSS BUILDING AREA 39,944 sf
AVERAGE FLOOR PLATE ~5,600 sf
GLOBALLY ESTABLISHED TENANT The London School of Business and Finance is a member of Global University Systems (GUS), an international network of higher education institutions with campuses in North America, Europe, and Asia. Two GUS institutions, The Language Gallery and Toronto School of Management are operated at the Property offering English and German language courses and career focussed business administration and accounting courses. FINANCIAL ENTERTAINMENT DISTRICT Queen DISTRICT Osgoode CITY HALL
EATON
CHURCH ST. CENTRE 22 DUNDAS ST. COLLEGE St. Patrick Dundas Ryerson University
COLLEGE PARK DISCOVERY Queen’s YONGE ST. DISTRICT COLLEGE ST. Park
BAY ST.
College
HIGHLY DESIRABLE LOCATION 22 College occupies a high profile position on the north side of College Street, just metres west of its intersection with Yonge Street, Toronto’s ‘Main Street’ linking the Downtown Core with the City’s Midtown and Uptown areas.
The Property possesses an enviable position on the Yonge corridor, featuring a plethora of street front retail and dining options such as College Park, a landmark mixed-use retail and office complex which is situated directly across the street. The Yonge Street node has a variety of well-established retailers along with an increasing number of international chains expanding into the surrounding areas including the Bloor- Yorkville shopping district and the Eaton Centre, both of which are just minutes away. The Property is also in close proximity to the University of Toronto, Ryerson University, the Discovery District, the Financial and Entertainment districts, and City Hall.
EXCELLENT ACCESSIBILITY 22 College is served by numerous convenient transit services. The College subway station is just steps from the Property, providing direct access to the Yonge-University subway line and connections to the Bloor- Danforth and Scarborough LRT lines. Union Station, Toronto’s main transit hub is only four stops south of College subway station and offers commuter services throughout the GTA and the surrounding areas via Toronto Transit Comission (TTC), GO Transit bus and train routes, Greyhound buses, and the VIA Rail system. TTC streetcar and bus routes can also be conveniently accessed just outside the Property. THRIVING DOWNTOWN NODE The Yonge and College area has experienced unprecedented retail and residential development in recent years owing to the area’s unique accessibility, proximity to the Downtown Core and abundant surrounding amenities. Over 5,500 new residential units have been completed in the area in the past three years with an additional 4,000 units under construction or close to completion. The great growth potential of the area and the success of recent new developments has prompted several new proposed projects, with almost 9,000 additional units planned. Recently completed projects in the area include the One Bloor building by Great Gulf, Karma by Lifetime Developments, and Canada’s tallest condominium tower – Aura at College Park. FREE & CLEAR The Property is free and clear of existing financing, enabling a prospective purchaser to take advantage of historically low interest rates and maximize leveraged returns on the investment.
OFFERING PROCESS Jones Lang LaSalle Real Estate Services Inc. (the “Advisor”) has been exclusively retained by KS 22 College Street Inc. (the “Vendor”) 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, and will be invited to submit a Letter of Intent (“LOI”) on a specific date that will be communicated by the Advisor at least fourteen (14) days in advance.
All inquiries regarding the Property should be directed to:
Matt Picken Bryce Gibson (416) 304-6020 (416) 238-9785 [email protected] [email protected]
Jenny Daly Elliot Medoff (416) 304-6030 (416) 238-9768 [email protected] [email protected]
JONES LANG LASALLE REAL ESTATE SERVICES INC. Bay Adelaide East, 22 Adelaide St. W., Suite 2600 Toronto, ON M5H 4E3 tel +1 416 304 6000 fax +1 416 304 6001 www.joneslanglasalle.ca