- What A mixed-use property in Brampton’s industrial node is on the market
- Why The estimated valuation works out to roughly $282/sq ft
- What next Colliers has the marketing assignment
A mixed-use property in Brampton’s industrial node is being shopped for just under $20m.
Colliers is marketing a 100% freehold interest in 1595 Clark Boulevard on behalf of a pension fund investor. The property comprises a 51,000 sq ft office building and a 20,000 sq ft industrial asset on 4.4 acres. The estimated valuation works out to approximately $282/sq ft.
According to the sales campaign, the pension fund aims to maximize the sale proceeds and will give preference to offers with limited conditions. The property is unencumbered by debt.
The property is triple-net leased to EXP, a private engineering, architecture, design and consulting services company, until March 2027. The two-storey office building was expanded in 2012 and has received consistent capital investment. The industrial component is used as testing and laboratory space and has a 25-foot clear height, one dock-level door and four drive-in doors. There are 220 parking stalls.
The sale is being pitched as an investment opportunity with the ability to raise rent in the near term. Medium term, there is potential for infill development.
The site is zoned M3 industrial, allowing for manufacturing, processing and packaging. Multifunctional office space in the area is rare and in demand, according to marketing materials. The property is close to 400 series highways, Toronto Pearson International Airport and CN Brampton Rail Yard.
Brampton is in the Toronto-Waterloo Corridor, the second largest tech cluster in North America behind Silicon Valley and Canada’s largest manufacturing and automotive corridor. The city is among the fastest growing in Canada and has a population of approximately 700,000.