Confidential - For Sale
Highway 400 & Highway 89 Innisfil, Ontario
65 Reive Boulevard +/- 65 Acres of Land with Holding Income
Prepared By:
Jay Finch**, Parker Payette**, Jim Mcintosh*, Vice President Vice President Senior Vice President 905.917.2037 905.917.2056 905.917.2036 [email protected] [email protected] [email protected]
*Sales Representative **Broker Executive Summary
Lennard Commercial Realty is pleased to offer for sale 65 Reive Boulevard, Innisfil (the “Property” or “Site”), consisting of +/- 65 acres of commercial land with significant Highway 400 frontage. The land is currently improved with a leased industrial facility including outdoor storage and an operating KOA campground which provides holding income. The Site presents an excellent opportunity for large scale development, along with the opportunity to subdivide the land into smaller parcels for end user sales. Located at Highway 400 and Highway 89, the Site is well positioned with efficient access to major markets such as Barrie and the Greater Toronto Area (GTA). With approximately 100,000 daily drivers passing the Site via Highway 400 and approximately 11,000 daily drivers passing the Site via Highway 89, the Property is ideally positioned to accommodate the historic and future growth of the Innisfil and Simcoe region. Tanger Outlet Mall directly to the south draws significant traffic to the area, providing additional exposure. A proposed reconfiguration of Reive Boulevard by the MTO will provide further access and natural road frontage throughout the Site, if implemented.
HIGHWAY 89
HIGHWAY 400
2,000 Feet of Highway 400 Frontage +/- 65 Acres
Lennard Commercial Realty • 2 Site Overview
The Site consists of +/- 65 acres of land with approximately 2,000 feet of Highway 400 frontage. The land is currently zoned for Commercial Highway (CH), Commercial Tourism (CT) with a small portion (+/- 2.2 acres) zoned Environmentally Protected (EP). The Site is improved with a 32,160 SF industrial facility with an outdoor storage yard that is leased to ATCO, among other tenants. Additional improvements onsite include a franchised KOA campground that provides additional holding income. The Property has multiple access points off of Reive Boulevard and nearly direct access to Highway 400 and Highway 89. Municipal water runs east-west across Highway 89, allowing for efficient water connections for future developments.
Environmentally Protected (EP) Commercial +/- 2.2 Acres Highway (CH) +/- 18.0 Acres
Commercial Tourism (CT) +/- 29.8 Acres Commercial Tourism (CT) Highway Frontage +/- 15.0 Acres
Land Designation Acres (approx.) Commercial Highway (CH) 18.0 Environmentally Protected 2.2 Commercial Tourism (CT) Highway Frontage* 15.0 Commercial Tourism (CT) 29.8 Total 65.0
Lennard Commercial Realty • 3 Location Overview
65 Reive Boulevard is situated in the rapidly growing town of Innisfil and Region of Simcoe. The Property is positioned directly adjacent to Highway 400, one of Canada’s most heavily travelled highways and is centrally located just 45 minutes north of Toronto. The Site provides efficient access to major Ontario markets and other arterial highways such as Highway 9, 407, 400, 401 and 404. The Property is located directly across from the established Cookstown Tanger Outlet Mall. The mall provides an abundance of food amenities to the area such as: Tim Hortons, Subway, Pita Land, Harvey’s, Swiss Chalet and Bar Burrito, in addition to global retailers such Coach, Swarovski, Nike, Adidas, Levi’s, Under Armour and many more.
Drive-Time Analysis 65 Reive Boulevard
# Location Time 4 1 1 Highway 88 7 minutes 2 Highway 9 11 minutes 2 3 Highway 407 28 minutes 4 Highway 404 29 minutes 3 5 Highway 401 30 minutes 6 6 Highway 427 30 minutes 5 7 7 Pearson International Airport 35 minutes
Lennard Commercial Realty • 4 Location Overview
Highway 400 & 404 Connecting Link
Approved in August 2019, the Highway 400–404 Connecting Link is a 16.2 kilometre, four-lane controlled access highway that will provide an east-west connection between Highway 400 in Bradford West Gwillimbury and Highway 404 in the Town of East Gwillimbury. The Highway 400–404 Connecting Link is intended to alleviate congestion on east-west corridors across the Holland Marsh and to provide an alternative path from eastern Toronto and eastern Greater Toronto Area to Barrie and the rest of the Simcoe area. The Connecting Link will provide a key link between the Simcoe Area and York Region and will aid in economic development of the Simcoe area. By 2041, the combined population of York Region and Simcoe County is projected to be approximately 2.6 million, similar to the current population of the City of Toronto.
Lennard Commercial Realty • 5 Market Overview
Highway 88 & Highway 400 Case Study
A significant land positioning project is nearly complete just 7 minutes south of 65 Reive Boulevard at Highway 88 and Highway 400. A 95 acre parcel has been successfully subdivided and substantially sold, with Highway 400 fronting lots selling up to $949,255 per acre in 2019. This site includes a diverse mix of industrial, commercial and hospitality uses.
Lot Price Lot Size Price Per AC Sale Date 1 $1,442,000 2.06 $700,000 Oct-2019 2 $1,586,250 2.35 $675,000 Apr-2019 3 $1,855,000 2.65 $700,000 Apr-2019 4 $1,890,000 2.7 $700,000 Apr-2019 5 $1,836,000 2.72 $675,000 Oct-2019 6 $1,808,400 2.64 $685,000 Oct-2019 7 $1,939,000 2.77 $700,000 Oct-2019 8 $1,587,000 2.12 $748,585 Nov-2019 9 $1,300,000 1.99 $653,266 Apr-2019 10 $2,373,100 2.5 $949,240 Nov-2019 11 $4,810,000 5.21 $923,225 Nov-2019 12 $5,998,800 15.01 $399,654 Nov-2019 13 $9,086,100 18.00 $504,783 Sept-2020
For Sale: $775,000/ AC
9 2 3 4 1 10 11 8 7 6 5
12 SOLD
Lennard Commercial Realty • 6 Market Overview
Highway 89 & Highway 400 Case Study
Further development in the immediate area includes an 11 acre site on Highway 89, just west of Highway 400. Suncor Energy acquired the site in 2017 for $617,700 per acre. Development is underway and upon completion it will be Suncor’s largest retail project to date. The development includes a Petro-Canada gas station and truck stop along with a bulk distribution station. Food amenities on site will include A&W and Tim Hortons and will be accompanied by a number of common retail units.
Site Size: 11.06 AC Sale Date: January 2017 Price: $6,834,399 Price Per Acre: $617,938 Zoning: Commercial Highway (CH)
Lennard Commercial Realty • 7 Market Overview
Highway 400 & Teston Road Case Study
Major development continues to move north along Highway 400, with Walmart recently announcing their investment in a 550,000 square foot distribution centre located at Highway 400 and Teston Road. The growing presence of Simcoe Region and the GTA North have major retailers, distributors and 3PL’s seeking efficient and effective options to service and support these growth nodes.
Highway 400 & Teston Road 550,000 SF Walmart Distribution Centre
Walmart DC
Lennard Commercial Realty • 8 Jay Finch**, Vice President 905.917.2037 [email protected] Parker Payette**, Vice President 905.917.2056 [email protected]
Jim Mcintosh*, Senior Vice President 905.917.2036 [email protected]
Lennard Commercial Realty, Brokerage 201-60 Columbia Way Markham ON L3R 0C9 905.752.2220 lennard.com
*Sales Representative **Broker Statements and information contained are based on the information furnished by principals and sources which we deem reliable but for which we can assume no responsibility. Lennard Commercial Realty, Brokerage 2020.