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1602 & 1604 Queen Street East Toronto

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1602 & 1604 Queen Street East Toronto MASS TIMBER INVESTMENT OPPORTUNITY OFFERING MEMORANDUM 1602 & 1604 QUEEN STREET EAST TORONTO 1602 1604 V6 Mass Timber Construction The V6 is a wood paneled construction system that has gained popularity in European THE OPPORTUNITY and Scandinavian countries for its sustainability, energy efficiency and modern design. Other than the foundation, the entire project is constructed by wood paneling and mass timber which is not only more cost effective, but has a greatly reduced carbon footprint. Prime Location Robust Neighbourhood and well situated for public transit and access to major arteries. 1602 1604 Strong Leasing Fundamentals The Property addresses a need for high end rental opportunities in Toronto, and can benefit from future rental growth with limited vacancy. Low Operating Costs and Capital Expenditures With limited common areas and each unit being separately metered (except water), the Property requires minimal management and costs to the landlord. With brand new construction, there will also be limited capital expenditures needed for years to come. CBRE’s Retail Investment Group is excited to be offering for sale 1602 & 1604 Queen Street East, Toronto; Canada’s first 6-storey mass timber purpose built rental development. 1602 & 1604 Queen Street West are Attractive Financing Options currently under construction and scheduled to be ready for occupancy in early 2021. The offering consists of two buildings, each comprised of a ground floor commercial unit, and four residential units. The rental units feature their Potential for CMHC financing once built and fully stabilized (early 2021), which offers own private elevator access, as well as north and south facing private terraces. The units are built out with high end finishes, including in floor radiant heating and cooling, which adds to the already impressive sustainability of the higher loan to value, longer amortization periods, and competitive interest rates. building. 1602 & 1604 Queen Street East is located at the intersection of Queen Street East & Coxwell Avenue in Toronto’s east end. The location benefits from both the Leslieville neighbourhood to the west, and the Beaches to the east. The neighbourhood provides an abundance of retail and restaurant options and is well serviced by public transit. The Property is well positioned to address an increasing need for high end rental options in Toronto, which has been indicated in the project’s strong pre-construction leasing activity thus far. The Property can be sold individually or together. MASS TIMBER INVESTMENT2 OPPORTUNITY • OFFERING MEMORANDUM MASS TIMBER INVESTMENT3 OPPORTUNITY • OFFERING MEMORANDUM MARKET OVERVIEW 1602-1604 Queen Street East is ideally located near the Northwest corner of Queen Street East and Coxwell Avenue which provides immediate access to the Gardiner Expressway via Lake Shore Blvd East. The Property falls between the Leslieville and Beaches neighbourhoods and benefits from patrons and residents from each community. To the south of the Property is Woodbine Park which is adjacent to an upcoming RioCan development which will consists of close to 600 residential units and 16,000 SF of retail space. Downtown Toronto Population 144,402 31 Greenwood 1604 Population Growth 1602 4% Woodbine Park 1602-1604 Queen Street East Aver. Household Income 22 Coxwell $130,310 Median Age 40 905 Express Bus TTC 501 Based on 2018 statistics within 2km radius MASS TIMBER INVESTMENT4 OPPORTUNITY • OFFERING MEMORANDUM MASS TIMBER INVESTMENT5 OPPORTUNITY • OFFERING MEMORANDUM AMENITIES & LOCAL DEVELOPMENTS 1 875 Queen Street East, Toronto, ON By Harhay Developments 122 Units | 7 Stories Completed 2019 2 1630 Queen Street East, Toronto, ON By Marlin Springs 89 Units | 6 Stories Estimate Completion Winter 2020 5 3 2 1285 Queen Street East, Toronto, ON 3 4 By Fieldgate Urban 76 Units | 6 Stories 1 Estimate Completion 2022 4 1249 Queen Street East, Toronto, ON By Condoman Developments Inc. and Grove Inc. 29 Units | 6 Stories Completed Winter/Spring 2020 5 1884 Queen Street East, Toronto, ON By Fieldgate Urban and Hullmark 47 Units | 6 Stories Estimate Completion Jan 2021 MASS TIMBER INVESTMENT6 OPPORTUNITY • OFFERING MEMORANDUM MASS TIMBER INVESTMENT7 OPPORTUNITY • OFFERING MEMORANDUM TRANSIT MAP PROPERTY OVERVIEW Property Details M Address 1602 Queen Strett East 1604 Queen Street East Land Area 2,357 sq. ft. 2,357 sq. ft. M M Total Building Area 6,202 sq. ft. 6,202 sq. ft. M Frontage 21.39 ft. 21.39 ft. M Bloor-Danforth Subway Commercial Area 815 sq. ft. 815 sq. ft. Residential Area 4,369 sq. ft. 4,369 sq. ft. M 22 Coxwell Realty Taxes $10,998 $4,825 M Zoning CR 2.0 CR 2.0 31 Greenwood M Asking Price $4,850,000 $4,850,000 Don Valley Pkwy TCC 501 M M M Queen Station M Gardiner Expy Union Station 25 minutes by streetcar to Yonge Street 10 minute drive to Union Station Sustainability 25 minute drive to the Airport (YYZ) 1602 & 1604 Queen Street East has been constructed with a specialized wood panel system that creates a building envelope designed to minimize heat loss in cold seasons and increase indoor air quality and humidity 1602 & 1604 Queen Street East provides residents great access to major arterial roadways, as well as public transit. The Property is situated steps from both control reducing operating costs and your carbon footprint. the 501 Queen Street Streetcar route, connecting Long Branch Loop to Neville Park Loop, including stops at Queen Station & Osgoode Station, along the Yonge Mass timber is a sustainable building material with University Line, & Bus Line 22 that goes from Queen Street East in the south to Coxwell station in the north on the Line 2 Bloor-Danforth Subway route. 1602 & reduced carbon impact when compared to traditional 1604 Queen Street East is situated minutes from Lakeshore Blvd East, which connects vehicles to the Gardiner Express Way/Queens Elizabeth Way (QEW), a concrete construction. The buildings are also equipped 140km route 400 series highway connecting Toronto to the Canada/US border in Buffalo. The property is also munutes from the Don Valley Parkway, which is with in-floor radiant heating and cooling the southern extension of highway 404. MASS TIMBER INVESTMENT8 OPPORTUNITY • OFFERING MEMORANDUM MASS TIMBER INVESTMENT9 OPPORTUNITY • OFFERING MEMORANDUM Construction UNIT BREAKDOWN 1602 & 1604 Queen Street East represent the future of infill development construction in North America. This wood paneled construction system has been perfected throughout Europe and Scandinavia for decades, and is celebrated for its modern design, energy efficiency, sustainability. The system utilizes a complex wood panel system, that ensures superior craftmanship and quality control. Mass timber has gained recent attention, as there is a global movement focused on reduced carbon footprint in the construction and real estate industry. 1602 Queen Street East 1604 Queen Street East Ground Floor Commercial Unit Commercial Unit 2nd Floor 2 Bedrooms 2 Bedrooms 3rd Floor 2 Bedrooms 2 Bedrooms 4th Floor 2 Bedrooms 2 Bedrooms 5th & 6th Floor 2 Bedrooms 2 Bedrooms MASS TIMBER INVESTMENT10 OPPORTUNITY • OFFERING MEMORANDUM MASS TIMBER INVESTMENT11 OPPORTUNITY • OFFERING MEMORANDUM FLOOR PLAN PROJECTED REVENUE 1602 Queen Street East Unit Area Lease Rate Monthly Annually Ground Floor Commercial 815 sq. ft. $60.00 $4,075 $48,900 Second Floor 964 sq. ft. $3.75/month $3,615 $43,380 Third Floor 984 sq. ft. $3.75/month $3,690 $44,290 Fourth Floor 984 sq. ft. $3.75/month $3,690 $44,290 Fifth & Sixth Floor 1,437 sq. ft. $3.00/month $4,311 $51,732 Total 5,184 sq. ft. $19,381 $232,592 1604 Queen Street East Unit Area Lease Rate Monthly Annually Ground Floor Commercial 815 sq. ft. $60.00 $4,075 $48,900 Second Floor 964 sq. ft. $3.75/month $3,615 $43,380 Third Floor 984 sq. ft. $3.75/month $3,690 $44,290 Fourth Floor 984 sq. ft. $3.75/month $3,690 $44,290 Fifth & Sixth Floor 1,437 sq. ft. $3.00/month $4,311 $51,732 Total 5,184 sq. ft. $19,381 $232,592 MASS TIMBER INVESTMENT12 OPPORTUNITY • OFFERING MEMORANDUM MASS TIMBER INVESTMENT13 OPPORTUNITY • OFFERING MEMORANDUM OFFERING PROCESS Memorandum Contents Offering Process This Offering Memorandum (“OM”) is being delivered to prospective purchasers The Vendor has adopted a negotiated transaction process. Based on information to assist them in deciding whether they wish to acquire the Property. This OM does contained in this OM and other information that may be made available upon not purport to be all-inclusive or to contain all the information that a prospective request, interested parties are invited to submit a proposal that addresses the purchaser may require in deciding whether or not to purchase the Property. This requirements outlined under “Submission Guidelines”. OM is for information and discussion purposes only and does not constitute an offer to sell or the solicitation of any offer to buy the Property. The OM provides Submissions should be directed electronically to: selective information relating to certain of the physical, locational and financial characteristics of the Property. c/o CBRE Limited, Brokerage 2005 Sheppard Avenue East, Suite 800 The information on which this OM is based has been obtained from various Toronto, Ontario, M2J 5B4 sources considered reliable. Neither the Vendor nor the Advisors make any representations, declarations or warranties, expressed or implied, as to the Attention: Brett Taggart, Brad Walford, Sean Comiskey accuracy or completeness of the information or statements contained herein or otherwise and such information or statements should not be relied upon by prospective purchasers without independent investigation and verification. The Submission Guidelines Vendor and the Advisors expressly disclaim any and all liability for any errors or omissions in the OM or any other written or oral communication transmitted Proposals will be considered on a future date to be communicated by the Advisor. or made available to prospective purchasers.
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