Description
539-541 Parliament Street (the “Property) represents a rare opportunity to acquire a 100% occupied freehold interest in a prominent corner urban streetfront property fully leased to Rexall/Pharma Plus Pharmacies Ltd. until November 30th, 2032. This institutionally owned and managed asset benefits from a land area of 9,578 SF located at the corner of Parliament Street and Winchester Avenue, in the heart of Toronto’s Cabbagetown Neighbourhood. The Property offers a best-in-class investment opportunity, with a long term lease to a AAA covenant tenant, in addition to offering near-term income upside through a forthcoming contractual rental escalation. The large corner lot provides for significant future repositioning or redevelopment potential, with site dimensions and existing as-of-right zoning offering favorable conditions for the creation of additional future density.
