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SIGNATURE RETAIL 349-351 INVESTMENT QUEEN STREET WEST OPPORTUNITY TORONTO, ONTARIO 52.16 FT OF QUEEN STREET WEST FRONTAGE 349-351 INVESTMENT HIGHLIGHTS A successful purchaser of the property will benefit from the following asset strengths: QUEEN STREET WEST ▸ High quality streetfront retail building with more than 52 feet of frontage on the desirable south side TORONTO, ON of Queen Street West between Peter and John streets ▸ Pure retail building fully leased to established retailers with strong tenant covenants ▸ Rear lane access provides for functional loading ▸ Free and clear offering allows the purchaser to implement their own debt strategy at favourable OPPORTUNITY current rates ▸ Demand for retail services is only increasing as residential intensification continues in the west part The Property represents a rare opportunity to acquire a of downtown Toronto streetfront retail building, fully leased to established local, ▸ Recent improvements to roof and HVAC national and international retailers. Located in the most desirable portion of the Queen Street West retail node, ▸ Future expansion potential through third storey addition the Property is situated in one of Toronto’s trendiest areas. This stretch is home to well-known retailers including American Eagle Outfitters, H&M, Gap, Zara, SF AREA WALK Club Monaco, Adidas, Arc’teryx, Aritzia, Brandy Mellville, 10,040 100 & TRANSIT SCORE Guess, lululemon, and the upcoming 40,000 square foot TOTAL BUILDING AREA Mountain Equipment Co-op flagship store. FRONTAGE ON The property is fully leased to a roster of high quality 52’ QUEEN STREET WEST 5.9 YEARS tenants, including a national and international chain. WEIGHTED AVERAGE LEAST TERM With an average remaining lease term of 5.9 years, the property provides stable cash flow with renewal options as well as very strong tenant covenants including Aldo, Little Burgundy and Black Market. Current average ground floor retail rents on the Peter-Spadina block are $93.96 per square foot with several recent transactions MARKET OVERVIEW reaching $140.00 per square foot. Queen Street West has experienced significant rental rate appreciation over the last five years with recent transactions eclipsing the $140.00 net per square foot mark. The vast number of mid-rise condo developments in the immediate area PROPERTY DETAILS continues to fuel the growth of this bustling retail node. With the Downtown West node expected to be among the fastest growing neighbourhoods in Canada, the retail market will continue to exhibit Type: Two-Storey Retail Building strength. This density has led to a substantial increase in pedestrian and vehicular traffic which has attracted national and international retailers Land Area: 5,595 square feet including Zara, H&M, lululemon, Adidas, NYX, Due West, and Aritzia among many others. Two notable retail projects taking place on the Frontage/Depth: 52.16 feet / 113 feet Peter-Spadina block include the 40,000 square foot MEC Flagship 10,040 square feet store scheduled to open Spring 2019 and the redevelopment of 336 Building Area: 4,600 square feet – Ground Floor Queen Street West, a four-storey office and retail development 5,440 square feet – Second Floor with a rooftop patio currently in the preconstruction phase. As institutional capital continues to hone in on Queen PIN: 214120053 Street West, outdated retail stores are being retrofitted or redeveloped leading to increased retail demand and Occupancy: 100% reduced vacancy rates - sub 2.0% in this node. Queen Zoning: MCR T3.0 (By-Law 438-86) Street West, with continued investment, population growth and trajectory, is expected to reach $150.00+ Official Plan: Mixed Use Area net per square foot by 2022. Stabilized NOI: $550,020/Annum (Year 2) Asking Price: $13,900,000 349-351 QUEEN STREET WEST, TORONTO BILLY BISHOP AIRPORT LOCATION & CONNECTIVITY Toronto, North America’s fourth largest city, has seen tremendous growth with a current population of approximately 2.7 million residents and an expected population of over 3.0 million by 2026. Much of this increase can be attributed to immigration policy as well as gentrification and intensification throughout the city. Specifically, Downtown West has become highly desirable among a relatively younger demographic given its trendy nature and proximity to the Downtown Core. As of 2016, there are roughly 65,000 people living in Downtown West with approximately half being 25 to 44 years old, representing roughly 20% population growth from 2011 to 2016. In response to the increase in demand, there continues to be strong residential building activity with 4,560 active and 8,268 proposed condominium units in Downtown West as of Q4 2018. The Property is situated in a high traffic pedestrian location that benefits from multiple transit routes. With FUTURE direct access to the Queen and Spadina streetcars, passengers can conveniently access the Downtown West SPADINA neighborhood via Union Station. In light of recent improvements to Billy Bishop Airport, a pedestrian tunnel GO STOP now connects Toronto’s mainland to the island for quick, reliable access. Metrolinx has also proposed a new Spadina-Front GO station to further increase access to Downtown West from across the GTA. TRANSIT METHOD BREAKDOWN Transit Score Bike Score Walk Score 100 91 100 SPADINA AVE. WALK TIMES Osgoode Subway Spadina Streetcar 5 minutes 5 minutes JOHN ST. 349-351 PETER ST. QUEEN STREET WEST QUEEN ST. W SOHO ST. 510 SPADINA STREETCAR TTC Ridership: 43,464 501 QUEEN STREETCAR MEC Flagship TTC Ridership: 43,804 349-351 QUEEN STREET WEST, TORONTO 120 FRONT STREET EAST 5 North side of Queen Street from Soho to John Soho to from North sideofQueenStreet Spadina to Peter from South sideofQueenStreet Peter Johnto from South sideofQueenStreet JOHN STREET PETER STREET SOHO STREET SPADINA AVENUE Basil Box Ardene CIBC Bank Get Outside Horseshoe Tavern Wind Mobile Due West Guess H&M Nobis Shoes.com EB Games Te Coop Steve’s Music Urban Behaviour Kiehl’s Rivoli Club Monaco G-Star Raw Sage Brandy Melville Cheerios Store Dr. Martens Goorin Brothers Adidas lululemon RETAIL LANDSCAPE Reigning Champ Bell Canada Lush Gap Proposed Mountain Equipment Co-Op PETER STREET Flagship Peter Pan Restaurant SOHO STREET The Black Bull Tavern NYX Mendocino RYU BEVERLEY STREET Timbuk2 Fido QUEEN STREETWEST Little Burgundy Claire’s ALDO Aritzia 349-351 QUEEN STREET WEST QUEENSTREET 349-351 Icebreaker Merino Zara DavidsTea Arc’teryx Foot Locker BEVERLEY STREET American Eagle YYOGA Shoppers Drug Mart Brimz Scarpino Ho Su Bistro QUEEN STREET WEST QUEEN STREET 349-351 Second Yogurty’s Cup JOHN STREET JOHN STREET Bell Starbucks Building Cafe Crepe Much Wine Rack Music Me Va Me Bell Media Queen St. Food Market Queen Street Warehouse Pizza Pizza Stag Shop McCAUL STREET Aveda DUNCAN STREET Scotiabank Subway Trimurti Korean Grill House Mucho Burrito Ginger Touhemboku Ramen QUEEN STREETWEST Queen Mother Cafe Pho Vistro Ebisu Little India New Era Lavish & Squalor Daily Press Beauty Queen Mi TacoTaqueria ST PATRICK STREET Friendly Stranger Adrenaline Atlas The Rex Condom Shack Cops Records JOHN STREET Wild Wing Nota Bene CIBC SIMCOE STREET OSGOODE STATION SPADINA AVENUE Rexall PETER STREET UNIVERSITY AVENUE 349-351 QUEEN STREET WEST, TORONTO OFFERING GUIDELINES ▸ Cushman & Wakefield ULC, Brokerage, has been retained by F. K. Y. Investment Limited (the “Vendor”) as exclusive advisor (the “Advisor”) for the disposition of 349-351 Queen Street West, Toronto. The Property is being offered for sale at a price of $13,900,000 and will be sold free and clear of debt. The Vendor’s objective is to maximize sale proceeds and preference will be given to offers with limited (or no) conditionality and a timely closing. Offers will be accepted on or after April 23, 2019. ▸ To obtain access to the detailed offering materials, please download and submit an executed confidentiality agreement to the attention of Philip Traikos or Michael Betel. Philip Traikos* Michael Betel* Senior Vice President Senior Associate Investment Sales Investment Sales 416 359 2455 416 359 2706 [email protected] [email protected] ©2019 Cushman & Wakefield ULC. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR Cushman & Wakefield ULC, IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED Brokerage HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, 161 Bay Street, Suite 1500, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL Toronto, ON M5J 2S1 LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, 416 862 0611 OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. cushmanwakefield.com .
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