- Property size 81,450 ft2
Under Contract: 170 North Queen Street, Toronto - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in 170 North Queen Street. This 81,450 SF, newly redeveloped (2016) retail centre, is located in one of Toronto’s most dominant retail nodes, 500 metres north of CF Sherway Gardens regional mall. The centre is fully leased to a diverse mix of needs-based and service-oriented retailers and features excellent national branded tenants that make up 78.1% of leased GLA, including: Michaels, DSW, Pier 1 and Dollarama. 170 North Queen Street offers the investor secure future cash flows and a healthy weighted average lease term of 5.78 years.
The centre is situated on a large 6.17 acre lot with premium frontage and signage on North Queen Street, a busy thoroughfare in Toronto that experiences high traffic volumes and provides excellent visibility for its tenants. The site is located in close proximity to the QEW/ Gardiner Expressway and Highway 427 interchange, making it easily accessible by both vehicle and public transit from across the Greater Golden Horseshoe.
This node is highlighted by CF Sherway Gardens, which draws in more than 9,100,000 visitors annually. This area is part of the Sherway Area Secondary Plan which will see increased residential and commercial growth coordinated with infrastructure, amenities and services to support a new, complete community.
- Located within the Sherway Area Secondary Plan, this area has dozens of new towers and millions of square feet of multi-residential planned. Customers living directly across from the property will generate even more retail traffic for the area, and this site can potentially be redeveloped to multi-residential in the long term too.
- Situated at QEW / Gardiner Expressway and Highway 427 interchange, the site is easily accessible by vehicle and public transportation. Over 386,000 vehicles traverse this retail node daily along Highway 427, and 394,000 along the QEW / Gardiner Expressway.
- The site is located in one of Toronto’s most dominant retail nodes, located 500 metres from CF Sherway Gardens regional mall which recently underwent a $550,000,000 expansion/ redevelopment.
- Notable retailers at Sherway and the immediate area, drawing consumers from across the region, include Walmart Supercentre, Home Depot, Sail, Winners, Best Buy, Mark’s, Staples, Leon’s, HomeSense, Hudson’s Bay, Nordstrom, Saks Fifth Avenue, Apple, Sport Check, and Sporting Life.
- Over 70,800 residents live within a 3 km radius of the site with an average household income of $108,014 (2018). This population is expected to increase by 5.78% over the next 5 years.