For Sale - United States Commercial Real Estate Listings lakeshore rd w_is_9921021.pdfJones Lang...
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Mississauga Investment / Owner-User Opportunity 1659 Lakeshore Road West Mississauga, ON Elliot Medoff* Senior Vice President +1 416 238 9768 Elliot.Medoff@am.jll.com Euan Darling* Assistant Vice President +1 416 238 9961 [email protected] Vasudevan Sadasivan* Associate +1 647 466 2883 [email protected] Erik Martin* Analyst +1 416 238 9772 [email protected] *Sales Representative Jones Lang LaSalle Real Estate Services Inc. (“JLL” and / or the “Advisor”) is pleased to offer for sale a 100% freehold interest in 1659 Lakeshore Road West, Mississauga, ON (the “Property”). The offering represents an opportunity to acquire a one-and-a-half storey single- tenant property on 11,000 sf of land located 1.5 km from of the Clarkson GO Station. Fully tenanted by Clarkson Village Animal Hospital until October 2021, the Property offers stable in-place income as well as long-term assembly and redevelopment potential. The Property is ideal for a owner-user looking to occupy their own facility and offers significant parking with approximately fiſteen (15) parking stalls. For Sa
Transcript of For Sale - United States Commercial Real Estate Listings lakeshore rd w_is_9921021.pdfJones Lang...
Mississauga Investment / Owner-User Opportunity1659 Lakeshore Road West Mississauga, ON
Elliot Medoff* Senior Vice President+1 416 238 [email protected]
Euan Darling*Assistant Vice President+1 416 238 [email protected]
Vasudevan Sadasivan*Associate+1 647 466 [email protected]
Erik Martin*Analyst+1 416 238 [email protected]
*Sales Representative
Jones Lang LaSalle Real Estate Services Inc. (“JLL” and / or the “Advisor”) is pleased to
offer for sale a 100% freehold interest in 1659 Lakeshore Road West, Mississauga, ON (the
“Property”). The offering represents an opportunity to acquire a one-and-a-half storey single-
tenant property on 11,000 sf of land located 1.5 km from of the Clarkson GO Station.
Fully tenanted by Clarkson Village Animal Hospital until October 2021, the Property offers
stable in-place income as well as long-term assembly and redevelopment potential. The
Property is ideal for a owner-user looking to occupy their own facility and offers significant
parking with approximately fifteen (15) parking stalls.
For Sale
Property Details
Building Area: 2,016 sfFrontage: 50 ft.Depth: 220 ft.Lot Area: 11,000 sfYear Built: ~1965Year Renovated: 2000Parking: ~ 15 surface stallsZoning: C4-64 (Mainstreet Commercial)Official Plan: Mixed UseAsking Price: $1,500,000
PropertyThe Property is situated on the north side of Lakeshore Road West, approximately 1.5 kilometres from of the Clarkson GO Station. This 11,000 sf lot offers 50 feet of frontage and is zoned Mainstreet Commercial (C4), allowing for a wide variety of commercial and low-density residential uses, with a maximum height allowance of 3-storeys (16 m). The C4 zoning is unique amongst commercial zoning types and allows for significant expansion of the existing building area providing an investor with meaningful future upside.
Tenant / Owner-User OpportunityClarkson Village Animal Hospital services the residential neighbourhoods of South Mississauga. The tenant offers full-service small animal care including a 24-hour emergency and overnight care facility. Clarkson Village Animal Hospital was awarded the 2018 Reader’s Choice Award for Mississauga’s best veterinary hospital. With the current lease expiring in 2021 the Property presents an excellent opportunity for an owner-user looking to own and operate their own commercial property in this rapidly intensifying locale.
Salient Facts
43 Median Age
$121,517 Avg. Household (HH) Income
3.67% Population Growth
(2013 - 2018)
32,200 Total Population
12.3% HH Income > $250,000
Clarkson / Southdown 2018 Demographics
LocationThe Property is located at the signalized intersection of Lakeshore Road West & Meadow Wood Road. Situated on South Mississauga’s main commercial corridor, the Property is near the neighbourhoods of Clarkson, Glen Leven, Birchwood and Park Royal. The local area is known for its large single-family detached homes that sell in excess of $1,400,000. Demographics in the immediate area indicate a wealthy, family-oriented population with a median age of 43 and an average household income of $121,517 per annum (compared to the Mississauga average of $110,617 per annum).
The Property is close to the Clarkson GO Station, one of 15 stations on the Lakeshore West line that runs between Union Station and Burlington.
The Lakeshore West line is one of the most heavily used lines in the GO Transit rail network and is a central part of Metrolinx’s “Big Move” plan that includes electrifying the rail corridor to improve service timing and frequency. The Property is well-serviced by Mississauga’s MiWay bus network with stops immediately outside of the Property, connecting the Clarkson and Long Branch GO stations and passing through Port Credit.
The Property is well connected to the local highway network, located a five-minute drive south of the Queen Elizabeth Way and a 15-minute drive from Ontario Highways 403, 407 and 427.
Other nearby amenities include the University of Toronto-Mississauga campus, Sheridan Centre Mall, Oakville Entertainment Centrum, the Mississauga Golf & Country Club and several parks and greenspaces along the lakefront.
Highlights• Single-tenant property on 11,000 SF of land
fronting on Lakeshore Road West
• Close proximity to the Clarkson GO Station and the Queen Elizabeth Way (QEW)
• Fifteen (15) surface parking stalls on-site
• Current lease provides holding income for developer or future owner-user
Nearby DevelopmentThe Property is situated near the highly-anticipated Craftsman Residences by the Vandyk Group located at 1575 Lakeshore Road West. This development consists of a new four-storey multi-residential structure with 292 suites. The project is 100% sold at an average unit price of $540,000 for a 1-bedroom and $950,000 for 2-3-bedrooms.
The success of the nearby Craftsman Residences supports the long-term redevelopment potential of 1659 Lakeshore Road West and the feasibility of the Property as part of a larger assembly. The Property will continue to benefit from close proximity to rapid public transit and other nearby amenities.
Lakeshore Rd. W.Royal Windsor Dr.
Sout
hdow
n Rd
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Clar
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Rd.
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Clarkson GO Station
5min. bus ride to Clarkson GO Station
5min. drive to
Queen Elizabeth
Way BIRCHWOOD
CLARKSON
GLEN LEVEN
PARK ROYAL
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Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their represen-tatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2019. Jones Lang LaSalle. All rights reserved. *Sales Representative **Broker.
Offering Process
JLL has been exclusively retained by the Vendor to seek proposals to acquire the Property. The Property is offered for sale at $1,500,000 on an as-is, where-is basis, free and clear of debt. The Vendor’s objective is to maximize sale proceeds, while preference will be given to offers with limited conditionality. Offers should be submitted to the attention of Elliot Medoff and Euan Darling at 22 Adelaide Street West, Suite 2600, Toronto, ON, M5H 4E3.
For more information please contact:
*Sales Representative
Euan Darling* Assistant Vice President Capital Markets +1 416 238 9961 [email protected]
Vasudevan Sadasivan* Associate Capital Markets +1 647 466 2883 [email protected]
Elliot Medoff* Senior Vice President Capital Markets +1 416 238 9768 [email protected]
Erik Martin* Analyst Capital Markets +1 416 238 9772 [email protected]
Lakeshore Rd. W.
Clar
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Rd.
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John
son
Ln.
22min. drive to Pearson Int’l
Airport
Union Station
24min. drive to
Union Station1659 LAKESHORE RD. W.
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