Investment Summary
364 QUEEN STREET WEST BEST-IN-CLASS INVESTMENT OPPORTUNITY LOCATION & ACCESSIBILITY
364 Queen Street West is strategically located on the most active retail strip of THE OPPORTUNITY THE PROPERTY Queen Street, steps from Spadina Avenue. The unique streetscapes on Queen Street West, highlighted by a combination of low-rise heritage buildings with SALIENT FACTS Jones Lang LaSalle Real Estate Services Inc. (“JLL”) is The Property is ideally-situated on the north side of Queen attractive brick façades and refurbished modern structures, make the area one of Building Area: 5,306 sf pleased to offer for sale a 100% freehold interest in Street West, less than 50 feet east from Spadina Avenue. The the most sought-after nodes in the City.
364 Queen Street West, Toronto, ON (the “Property”), a site compromises approximately 2,860 sf (0.066-acres) and Avg. Floor Plate: 2,653 sf premier flagship streetfront retail asset located in the offers 28 feet of frontage on the most active retail segment The Property is located near Toronto’s Entertainment District, home to many highly Lot Area: 2,860 sf (approx.) heart of Toronto. The Property provides an investor with of Queen Street West. 364 Queen Street West was re-built in renowned restaurants, high-end retailers, and popular nightlife entertainment the opportunity to acquire best in class retail on one of 2006 and then extensively renovated in 2017. The Property establishments. This area is also the city’s fastest growing high-rise residential Frontage: 28 ft. Canada’s most high profile high streets, backed by an was previously occupied by the clothing company Guess neighbourhood, currently undergoing unprecedented development. The Property international tenant covenant, and providing excellent before the current tenant, ASICS, took over the space in is also within walking distance to Toronto’s Financial Core. Year Built (Reno): 2006 (2017) cash flow with a future contractual rental escalation. March 2018. Zoning: CR 3.0 (c2.0; r2.0) The Property is located near some of the best amenities that Toronto has to offer, • • Recently renovated (2017) flagship retail space on The Property consists of approximately 5,036 sf and refers such as: Union Station, Toronto’s Chinatown, Nathan Phillips Square, CF Eaton Official Plan: Mixed Use Area the most dynamic strip of Queen Street West, one of to Part 1 and Part 2 of 364 Queen Street West (Lot 10 North Centre, the Rogers Centre, the CN Tower, the Financial District, and the Toronto Designated Part V Canada’s most recognizable high streets Side of Queen Street Registered Plan D-10 City of Toronto). Waterfront. Heritage Status: (non-contributing) • • Long-term lease to ASICS, a publicly-traded multi- The Property is improved with a single-tenant, two-storey national sportswear company and one of the world’s commercial structure consisting of a pre-finished metal most popular sportswear brands, serving customers cladding and Structural Silicone Glazed curtain wall system. in more than 100 countries worldwide The interior consists of a state-of-the-art retail space • • Strong existing cashflow with the current lease comprised of ceramic tile flooring, gypsum wall boards and expiring in 2027, and with a meaningful contractual ceiling tiles, in addition to a new elevator. rental escalation in July 2020 to $100.00 psf net
KEY HIGHLIGHTS • Over 5,300 sf of flagship retail space on Queen Street West
• Located in one of the most transit-oriented nodes in the City of Toronto
• Surrounded by 23 active development projects totaling nearly 7,511 units
• Lease expires in July 2027, with a rental escalation to $100.00 psf net in July 2020 2 l 482-484 Queen St. W 3 Dundas St. W.
Universtiy Ave.
Yonge St.
Bay St.
Queen St. W. Richmond St. W. FINANCIAL Adelaide St. W. CORE
King St. W.
Spadina Ave. Front St. W. Bathurst St. Bathurst
OFFERING PROCESS
Jones Lang LaSalle Real Estate Services Inc. (the “Advisor”) has been exclusively retained by 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: Elliot Medoff* Euan Darling* Brandon Gorman* Graham Smith* Senior Vice President Assistant Vice President Senior Vice President, Retail Senior Vice President, Retail +1 416 238 9768 +1 416 238 9961 +1 416 855 0907 +1 416 855 0914 [email protected] [email protected] [email protected] [email protected]
JONES LANG LASALLE REAL ESTATE SERVICES INC. Bay Adelaide Centre 22 Adelaide Street West, Suite 2600 Toronto, ON M5H 4E3 +1 416 304 6000 www.jll.ca 4 l 482-484 Queen St. W