B OYLE C OM M E RC I A L . C OM
Office Leasing & Investment Availability Report August 2009
Feature Listing
1670 Bayview Avenue Boyle Real Estate Inc. The Fairmont Royal York Hotel 100 Front Street West Toronto, Ont., M5J 1E3 Phone: 416.594.9999 Fax: 416.594.3794 www.boylecommercial.com
B OYLE C OM M E RC I A L . C OM
Office Leasing & Investment Availability Report August 2009
Leasing Sean Boyle (416)594-9999 ex:22
Research Jigna Patel (416)594-9999 ex:21
sboyle@boylecommercial.com
Kristina Crombie (416)594-9999 ex:21
Antoinette McEwan (416)594-9999 ex:21 research@boylecommercial.ocm
Land Development Elysse Franklin (416)594-9999 ex:23 efranklin@boylecommercial.com
Boyle Real Estate Inc. The Fairmont Royal York Hotel 100 Front Street West Toronto, Ont., M5J 1E3 Phone: 416.594.9999 Fax: 416.594.3794 www.boylecommercial.com
B OYLE C OM M E RC I A L . C OM
Office Leasing & Investment Availability Report August 2009
For Lease 366 Bay Street 33 Britain Street 474 Adelaide Street East 1670 Bayview Avenue
Leased 275 Richmond Street West
Boyle Real Estate Inc. The Fairmont Royal York Hotel 100 Front Street West Toronto, Ont., M5J 1E3 Phone: 416.594.9999 Fax: 416.594.3794 www.boylecommercial.com
For Sale 1670 Bayview Ave. 1st Floor 1670 Bayview Ave. 2nd Floor 1670 Bayview Ave. 1&2 Floor
FOR SUBLEASE
366 BAY STREET INCREDIBLE RATE — FULL FLOOR
BONUS COMMISSION
Sean Boyle President, Broker of Record 416.594.9999 ex:22 sboyle@boylecommercial.com
Boyle Real Estate Inc. The Fairmont Royal York Hotel 100 Front Street West Toronto, Ont., M5J 1E3 Phone: 416.594.9999 Fax: 416.594.3794 www.boylecommercial.com
AVAILABLE SPACE
3,090 SQ.FT ENTIRE 11TH FLOOR
NET RENT
$7.95 PSF YEAR ONE
ADDITIONAL RENT
$19.50 PSF
TERM
TO FEBRUARY 28,2012
COMMISSION
$1.00 PSF PER YEAR PLUS BONUS
FOR SUBLEASE
366 BAY STREET FULL FLOOR—BONUS COMMISION
Why 366 Bay Street 11th floor • Centre Ice Location • Free Rent Offered • Low Net Rent $7.95 PSF • Space Newly Built Out • TI Allowance Offered HIGHLIGHTS • Boutique building • Renovated building, Ben McNally Bookstore on main floor • Lots of natural light • 4 offices with windows (12’X17’ and 13’X13.5’) • 3 internal offices (9’X12’) • Boardroom (14’X25’) Sean Boyle President, Broker of Record 416.594.9999 ex:22 sboyle@boylecommercial.com
• • • •
Reception Utility/Photocopy room Full kitchen Internal Washroom
33 BRITAIN STREET (Queen St. E near Jarvis St.) BOYLE REAL ESTATE INC., BROKERAGE
www.boylecommercial.com BOYLE Real Estate Inc., Brokerage The Fairmont Royal York Hotel 100 Front St. W., Toronto, ON M5J 1E3
For Lease: Entire Top Floor 3 MONTHS FREE WITH A 3 YEAR TERM!
Features • Open concept • Sky lights • Tenant controlled heat and cooling with high efficiency furnace • Operable windows • New Cat 5 cabling installed accommodating approximately 22 computers
AVAILABLE SPACE 3rd Floor 2,800 sq.ft. approx.
PARKING Available for up to four (4) vehicles
SEMI GROSS RENT $15.00 per sq. ft. $6.25 per sq. ft. heat , hydro and realty taxes $21.25 per sq. ft. gross plus GST Floor Plan
FOR FURTHER INFORMATION OR TO TOUR PLEASE CALL: Sean Boyle, Broker of Record 416-594-9999 x22 fax: 416.594.3794 sboyle@boylecommercial.com
All information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified, and as such, cannot be warranted nor form any part of any future contract. This offering may be withdrawn at any time without notice.
474 ADELAIDE ST E. (Adelaide & Ontario)
For Lease: New Professional Offices www.boylecommercial.com FOR FURTHER INFORMATION OR TO TOUR PLEASE CALL: Sean Boyle, Broker of Record 416-594-9999 x22 fax: 416.594.3794 sboyle@boylecommercial.com BOYLE Real Estate Inc., Brokerage The Fairmont Royal York Hotel 100 Front St.W.,Toronto, ON M5J 1E3
474 ADELAIDE ST. E. LOWER LEVEL • High ceilings throughout • Ideal for restaurant support/services • Well suited for video editing/ photography studio/production offices
BUILDING AREA Lower Level: approx. 1,500 sq.ft. Second Floor Office: 1,500 sq.ft. (Private offices. Shared boardroom, reception and kitchen negotiable)
2nd FLOOR
• Newly renovated office space • Voice/Data throughout all offices
NET RENT Lower Level: $10.00 net psf Second floor: $17.00 net psf
COMMISSION $1.00 psf per year to selling broker
ADDITIONAL RENT $12.83 psf includes hydro (estimated 2007)
Please see page 2 for floor plans...
BOYLE Real Estate Inc., Brokerage The Fairmont Royal York Hotel,100 Front St. W., Toronto, ON M5J 1E3 All information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified, and as such, cannot be warranted nor form any part of any future contract. This offering may be withdrawn at any time without notice.
474 ADELAIDE ST E. (Adelaide & Ontario)
2nd FLOOR
LOWER LEVEL
All information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified, and as such, cannot be warranted nor form any part of any future contract. This offering may be withdrawn at any time without notice.
BOYLE REAL ESTATE INC., BROKERAGE
FOR FURTHER INFORMATION OR TO TOUR PLEASE CALL:
Sean Boyle, Broker of Record 416-594-9999 x22 f: 416.594.3794 sboyle@boylecommercial.com
www.1670bayview.com
EXECUTIVE BUSINESS CENTRE (Bayview/Hillsdale south of Eglinton Ave E.) ■ Perfect for new start-ups and businesses in Leaside,
Rosedale areas ■ Professionally furnished offices for lease on an
individual unit basis with flexible terms ■ Fully functional kitchenette ■ Photocopier on a pay per use basis, utilities,
cleaning, taxes and free access to conference rooms ■ Access from Eglinton & St. Clair subway stations via
TTC bus ■ Downtown core in 15 minutes via Bayview extension
LOCATION 1670 Bayview Avenue (south of Eglinton Avenue East) GROSS RENT $750 to $1600 per month plus GST (depending on office size and location)
SPACE AVAILABLE • 5th floor furnished, windowed and non-windowed offices • continuous units available TERM Flexible – as little as monthly
Building Features “Walk to work/walk to amenities” • In the heart of Bayview Village, a thriving business, retail & restaurant hub • BMO located on main floor • boutique office building • lots of natural light • parking $120.00/mo. per space, unreserved (subject to availablility and any landlord rate changes during term of lease)
see page 2 for floor plan BOYLE Real Estate Inc., Brokerage The Fairmont Royal York Hotel, 100 Front St. W., Toronto, M5J 1E3 All information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified, and as such, cannot be warranted nor form any part of any future contract. This offering may be withdrawn at any time without notice.
5th FLOOR EXECUTIVE CENTRE
$775
$775
$775
$1,600
$400 $925
$400
$775
$775
www.1670bayview.com
BOYLE REAL ESTATE INC., BROKERAGE
www.boylecommercial.com
www.delcommanagement.com
www.novaridge.com
$775
$400
Sean Boyle, Broker of Record 416.594.9999 x22 fax: 416.594.3794 sboyle@boylecommercial.com
$1,100
BOYLE REAL ESTATE INC., BROKERAGE
www.1670bayview.com
FOR FURTHER INFORMATION OR TO TOUR PLEASE CALL:
(Bayview/Hillsdale south of Eglinton Ave E.)
Sean Boyle, Broker of Record 416-594-9999 x22 f: 416.594.3794 sboyle@boylecommercial.com
FOR LEASE
Building Features “Walk to work/walk to amenities” • BMO located on main floor • boutique office building • lots of natural light • parking $120.00/mo. per space, unreserved (subject to availablility and any landlord rate changes during term of lease) 1670 Bayview, front view
1670 Bayview, rear view
Available Suites* STE.#
RENTABLE (SQ.FT.)
NET RENT (per SQ.FT.)
ADDITIONAL AVAILABLE RENT (per SQ.FT.)
FEATURES
304
1,300
$14.50
$15.55
now
reception, kitchen, open area
305
830
$14.50
$15.55
now
reception, open area, private windowed office
306
1,438
$14.50
$15.55
Dec. 31, 2010
4 offices, reception area: this is a fully functional shared office, with offices leasing on an individual basis.
308
2,196
$14.50
$15.55
now
boardroom, kitchen, open area
403
2,474
$12.00
$15.55
403A
824
$14.50
$15.55
now
windowed office & open area
501
2,015
$14.50
$15.55
now
5 windowed offices & 3 internal offices, large boardroom, open tiled reception
503
2,349
$14.50
$15.55
now
5 private windowed offices, 1 internal office, reception, kitchen, eating area
505
1,750
$14.50
$15.55
now
2 large offices, boardroom, reception area
6 private windowed offices, boardroom and open area. Term to Sep. 30, 2010.
*For individual floor plans of suites, please go to www.1670bayview.com Above information established according to BOMA / ANSI Z65.1 96
BOYLE Real Estate Inc., Brokerage The Fairmont Royal York Hotel, 100 Front St. W., Toronto, M5J 1E3 All information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified, and as such, cannot be warranted nor form any part of any future contract. This offering may be withdrawn at any time without notice.
OFFICE CONDOMINIUM FOR SALE 1670 Bayview Avenue – Main Floor Retail Space BOYLE REAL ESTATE INC., BROKERAGE
INVESTMENT OPPORTUNITY:
BUILDING INFO:
3,561 sq.ft. of ground floor retail space at a prime retail location on Bayview Avenue available for acquisition. Space is leased to one of the most profitable Bank of Montreal (BMO) retail branches in the GTA through December 31, 2011.
Address: 1670 Bayview Avenue (south of Eglinton Av) Description: 5 storey office building Year Built: 1951 (retrofitted 1990s)
Building Description
Tenant Description
1670 Bayview Avenue is a five storey, 40,000 sq.ft. office building located in midtown Toronto near Eglinton Avenue. It is currently in the process of being registered as an office condominium. Situated in the heart of the retail corridor of an affluent residential community, 1670 Bayview Avenue is surrounded by vibrant retail and houses tenants from various industries including financial services, travel and entertainment. The building was completely updated in the 1990s and has had a new elevator installed.
The Bank of Montreal (BMO) is one of Canada's oldest and most reputable financial institutions, operating a branch at 1670 Bayview Avenue since the 1950s.
Financial Overview & Floor plan Page 2
Asking Price
$1,820,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
CONTACT: Sean Boyle, Broker of Record 416.594.9999 x22 sboyle@boylecommercial.com
www.1670bayview.com
FINANCIAL OVERVIEW:
YEAR ENDING
Main floor - 3,561 sq.ft. (BMO) GROSS INCOME (Base Rent)
Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
(Dec-2009) (Dec-2010) (Dec-2011) (Dec-2012) (Dec-2013) (Dec-2014) (Dec-2015) (Dec-2016) (Dec-2017) (Dec-2018) (Dec-2019) (Dec-2020) (Dec-2021) (Dec-2022) (Jan-2023)
$111,936 $111,936 $111,936 $124,635 $124,635 $124,635 $124,635 $124,635 $131,757 $131,757 $131,757 $131,757 $131,757 $138,879 $11,573
EXPENSES
NOI
(Condo Reserve Fee)
$7,676 $7,907 $8,144 $8,388 $8,640 $8,899 $9,166 $9,441 $9,724 $10,016 $10,317 $10,626 $10,945 $11,273 $968
$104,260 $104,029 $103,792 $116,247 $115,995 $115,736 $115,469 $115,194 $122,033 $121,741 $121,440 $121,131 $120,812 $127,606 $10,606
1) Bank of Montreal (BMO) lease expires 12/31/2011. BMO expected to exercise five-year renewal options throughout the analysis period and convert to BOMA measurement of 3,561 sf on 1/1/2012. 2) The Landlord will work on amendment to this lease whereby reserve contributions would be borne by the tenant. If successful, this expense will not be borne by the investor and NOI would be adjusted accordingly.
1670 Bayview Ave – Main Floor Retail Space 3,561 sq.ft.
* Current square footage is 3,392 sq.ft.
prepared by Space Database Inc., www.spacedatabase.com
CONTACT: Sean Boyle, Broker of Record 416.594.9999 x22 sboyle@boylecommercial.com
www.1670bayview.com
OFFICE CONDOMINIUM FOR SALE 1670 Bayview Avenue – 2nd Floor BOYLE REAL ESTATE INC., BROKERAGE
INVESTMENT OPPORTUNITY:
BUILDING INFO:
9,070 sq.ft. of 2nd floor medical/office space at a prime location on Bayview Ave. available for acquisition. Entire floor is leased to Benya Inc., a Ministry of Health funded high volume medical clinic, that has been operating for many years. Benya’s lease expires Dec. 31, 2023.
Address: 1670 Bayview Avenue
(Bayview Avenue south of Eglinton Avenue East) Description: 5 storey office building Year Built: 1951 (retrofitted 1990s)
Building Description
Tenant Description
1670 Bayview Avenue is a five storey, 40,000 sq.ft. office building located in midtown Toronto near Eglinton Avenue. It is currently in the process of being registered as an office condominium. Situated in the heart of the retail corridor of an affluent residential community, 1670 Bayview Avenue is surrounded by vibrant retail and houses tenants from various industries including financial services, travel and entertainment. The building was completely updated in the 1990s and in 2009 the elevator underwent a modernization and all new components were installed to meet today’s modern standards and municipal requirements.
Benya Inc. has leased the entire second floor since 1993 and is the largest clinic of its kind in North America. Clients may access the clinic from a private entrance off of Hillsdale Avenue.
Financial Overview & Floor plan Page 2
Asking Price
$3,750,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
CONTACT: Sean Boyle, Broker of Record 416.594.9999 x22 sboyle@boylecommercial.com
www.1670bayview.com
FINANCIAL OVERVIEW:
YEAR ENDING
2nd floor - 9,070 sq.ft. (Benya Inc.) GROSS INCOME (Base Rent)
Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
(Dec-2009) (Dec-2010) (Dec-2011) (Dec-2012) (Dec-2013) (Dec-2014) (Dec-2015) (Dec-2016) (Dec-2017) (Dec-2018) (Dec-2019) (Dec-2020) (Dec-2021) (Dec-2022) (Jan-2023)
$249,945 $249,945 $249,945 $249,945 $253,965 $263,030 $263,030 $263,030 $271,344 $272,100 $272,100 $272,100 $280,414 $281,170 $23,431
EXPENSES
NOI
(Condo Reserve Fee)
$19,552 $20,139 $20,743 $21,365 $22,006 $22,666 $23,346 $24,047 $24,768 $25,511 $26,277 $27,065 $27,877 $28,713 $2,465
$230,393 $229,806 $229,202 $228,580 $231,958 $240,364 $239,684 $238,983 $246,576 $246,589 $245,823 $245,035 $252,537 $252,457 $20,966
1) Benya Lease expires 1/31/2023. Benya will convert to BOMA measurement of 9,070 psf on 2/1/13. 2) The Landlord will work on amendment to this lease whereby reserve contributions would be borne by the tenant. If successful, this expense will not be borne by the investor and NOI would be adjusted accordingly.
1670 Bayview Ave 2nd floor Medical/Office Space 9,070 sq.ft.
* Current square footage is 8,770 sq.ft.
prepared by Space Database Inc., www.spacedatabase.com
CONTACT: Sean Boyle, Broker of Record 416.594.9999 x22 sboyle@boylecommercial.com
www.1670bayview.com
OFFICE CONDOMINIUMS FOR SALE 1670 Bayview Avenue – Main & 2nd Floor BOYLE REAL ESTATE INC., BROKERAGE
MAIN FLOOR
2nd FLOOR
INVESTMENT OPPORTUNITY Opportunity to acquire 12,631 sq.ft. of 1st and 2nd floor retail/ office/medical space at a prime location on Bayview Ave. First floor is leased to one of the most profitable Bank of Montreal (BMO) retail branches in the GTA through Dec. 31, 2011. Second floor is leased to Benya Inc., a Ministry of Health funded high volume medical clinic that has been operating for many years. Benya’s lease expires December 31, 2023.
BUILDING INFO: Address: 1670 Bayview Avenue (south of Eglinton Av) Description: 5 storey office building Year Built: 1951 (retrofitted 1990s)
Building Description 1670 Bayview Avenue is a five storey, 40,000 sq.ft. office building located in midtown Toronto near Eglinton Avenue. It is currently in the process of being registered as an office condominium. Situated in the heart of the retail corridor of an affluent residential
community, 1670 Bayview Avenue is surrounded by vibrant retail and houses tenants from various industries including financial services, travel and entertainment. The building was completely updated in the 1990s and in 2009 the elevator underwent a modernization and all new components were installed to meet today’s modern standards and municipal requirements.
Tenant Description The Bank of Montreal (BMO) is one of Canada's oldest and most reputable financial institutions, operating a branch at 1670 Bayview Avenue since the 1950s. Benya Inc. has leased the entire second floor since 1993 and is the largest clinic of its kind in North America. Clients may access the clinic from a private entrance off of Hillsdale Avenue.
Financial Overview & Floor Plans page 2
Asking Price
$5,570,000
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
CONTACT: Sean Boyle, Broker of Record 416.594.9999 x22 sboyle@boylecommercial.com
www.1670bayview.com
FINANCIAL OVERVIEW:
Main floor & 2nd floor – 12,631 sq.ft.
YEAR ENDING
GROSS INCOME (Base Rent)
Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
(Dec-2009) (Dec-2010) (Dec-2011) (Dec-2012) (Dec-2013) (Dec-2014) (Dec-2015) (Dec-2016) (Dec-2017) (Dec-2018) (Dec-2019) (Dec-2020) (Dec-2021) (Dec-2022) (Jan-2023)
$361,881 $361,881 $361,881 $374,580 $378,600 $387,665 $387,665 $387,665 $403,101 $403,857 $403,857 $403,857 $412,171 $420,049 $35,004
EXPENSES
NOI
(Condo Reserve Fee)
$27,229 $28,046 $28,887 $29,754 $30,646 $31,566 $32,513 $33,488 $34,493 $35,527 $36,593 $37,691 $38,822 $39,986 $3,432
$334,652 $333,835 $332,994 $344,826 $347,953 $356,099 $355,152 $354,177 $368,609 $368,330 $367,264 $366,166 $373,349 $380,063 $31,572
1) Benya Lease expires 1/31/2023. Benya will convert to BOMA measurement of 9,070 psf on 2/1/13. 2) Bank of Montreal (BMO) lease expires 12/31/2011. BMO expected to exercise five-year renewal options throughout the analysis period and convert to BOMA measurement of 3,561 sf on 1/1/2012. 3) The Landlord will work on amendment to this lease whereby reserve contributions would be borne by the tenant. If successful, this expense will not be borne by the investor and NOI would be adjusted accordingly.
1670 BAYVIEW – MAIN FLOOR
1670 BAYVIEW – SECOND FLOOR
(3,561 sq.ft.)
(9,070 sq.ft.)
prepared by Space Database Inc., www.spacedatabase.com
CONTACT: Sean Boyle, Broker of Record 416.594.9999 x22 sboyle@boylecommercial.com
www.1670bayview.com
275 RICHMOND ST. W. (Richmond & John)
LEASE – MAIN FLOOR Brick & Beam Boutique Office Building www.boylecommercial.com FOR FURTHER INFORMATION OR TO TOUR PLEASE CALL: Sean Boyle, Broker of Record 416-594-9999 x22 fax: 416.594.3794 sboyle@boylecommercial.com BOYLE Real Estate Inc., Brokerage The Fairmont Royal York Hotel 100 Front St.W.,Toronto, ON M5J 1E3
• • • •
275 RICHMOND ST. W.
AVAILABLE SPACE
totally renovated interior
Main Floor - approx. 1100 sq.ft.
in the heart of Entertainment District walk-out full size patio ideal for Travel Agency, Design firms, Architects, etc.
NET RENT $13.50 psf ADDITIONAL RENT approx. $13.63 psf
COMMISSION $1.00 psf per year to selling broker.
All information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified, and as such, cannot be warranted nor form any part of any future contract. This offering may be withdrawn at any time without notice.