- Property size 26,740 ft2
Under Contract: 2901 Sheppard Avenue East - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in 2901 Sheppard Avenue East located in the heart of Toronto on the corner of the high-profile intersection of Sheppard and Victoria Park. Situated on a large 1.49-acre lot, the Property is improved with a freestanding commercial building comprised of 26,740 SF which is fully leased to Shoppers Drug Mart and three additional medical based tenancies. The Property was constructed in 2011 with superior quality and offers the investor secure and increasing future cash flow with a weighted average lease term of 9.05 Years.
The large corner lot at this high-traffic intersection provides for significant future repositioning or redevelopment potential. This location in Toronto is easily accessible by car and public transportation, being situated in close proximity to Highway 401, Don Valley Parkway, Highway 404, and Don Mills Subway Station. The Highway 401/Victoria Park interchange is less than 800 meters away.
In addition to national retailers nearby, the abundance of office buildings west of the site, Lambton College, and CF Fairview Mall (13M+ annual visitors) are major destinations in the immediate area. The commercial node is surrounded by densely populated and rapidly expanding residential neighbourhoods with over 13,200 residents living within 1 km of the site, and forecast to grow 9.5% over the next five years.
- The asset is accessible from both Sheppard Avenue East and Victoria Park Avenue and offers ample on-site parking with 3.36 stalls per 1,000 SF of GLA.
- The Property offers premium visibility with approximately 254 feet of frontage on Sheppard Avenue East and approximately 142 feet of frontage on Victoria Park Avenue.
- Shoppers Drug Mart is a proven ‘AAA’ covenant and has operated at this location since 2012. The current term expires in 2032 with rental escalations throughout.
- The site benefits from having long-term transit development potential, with the TTC planning to construct an eastward extension of the Sheppard subway line to Sheppard & McCowan. This extension will include a new subway station at the Victoria Park and Sheppard intersection elevating accessibility to the Property.
- There are three residential developments in the pre-construction phase along Sheppard between Victoria Park and Warden which have 18 and 30-storey condominium towers proposed.