FOR SALE
39 30
NASHUA DRIVE MISSISSAUGA
Airport Office Investment Opportunity
PROPERTY DETAILS
THE OPPORTUNITY Jones Lang LaSalle Real Estate Services Inc. (“JLL and / or the “Advisor”) has been retained on an exclusive basis to offer for sale a 100% freehold interest in 3930 Nashua Drive, Mississauga (the “Property”), a 40,498-square foot, two-and-a-half storey office building just west of Highway 427 south of Derry Road. Less than four kilometers from Toronto’s Pearson International Airport, the Property has been owned and occupied by Ledcor Group (the “Vendor”) since 1998 and is offered for sale free and clear of tenancy. The asset represents an excellent opportunity for a user-owner or investor to acquire a single-tenant office building in the highly sought-after Airport Business Park, situated less than five minutes from rapid public transit at the Malton GO station.
Building Area:
40,498 square feet
Building Height:
2.5 storeys
Construction Year:
1990
Lot Dimensions:
333 x 144 feet
Lot Size:
47,910 square feet (1.1 acres)
Zoning :
M1
Official Plan:
Business Employment
Parking:
87 surface stalls
LOCATION OVERVIEW
99
400
410 10
3930 Nashua Drive is strategically positioned west of Highway 427 and south of Derry Road, five minutes from Toronto’s Pearson International Airport. The immediate area is surrounded by various industrial and warehousing operations, while the node north of Derry Road is primarily detached residential housing.
3930 NASHUA DRIVE
401
PEARSON AIRPORT
DVP
409
427
HW 27 Y4
Property also benefits from immediacy to the 400 series highways and the GTA’s rapidly expanding public rail network. The Malton GO Station is 2.5KM from the site, while the new addition of the UnionPearson (UP) Express provides quick access to the Downtown Core, situated 5.5 kilometers south at Pearson Airport.
Allen
407 ETR
LVD B ALE D REX
403 QEW
PROPERTY OVERVIEW
The Property represents a rare opportunity to acquire a completely vacant, two and a half storey office structure in Mississauga’s Airport Business Park. Originally constructed in 1990 and occupied by the current owner since 1998, the Property occupies 1.1 acres (47,942 square feet) of land on the west side of the street, just south of Derry Road and west of Highway 427. Offering approximately 333 feet of frontage on Nashua Drive, the Property’s immediate surroundings include a mix of low-rise office, industrial and warehouse facilitiesas as well as a variety of parklands, multi-family and detached residential homes in the surrounding neighbourhoods. Notable amenities within a close proximity to the Property include Woodbine Racetrack, Woodbine Shopping Centre and the University of Guelph-Humber. The Property is improved with a two and a half storey office structure with a fully finished and daylight-exposed lower level, offering a combined 40,498 square feet of leasable space. The structure offers an open concept, recently renovated office design, complete with front and rear stairwells and an elevator system providing ease of access to all three floors.
OFFERING PROCESS JLL has been exclusively retained on behalf of the Vendor to seek proposals to acquire the Property. The Property is offered for sale at an asking price of $6,800,000 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 and a timely closing. Offers should be submitted to the attention of Elliot Medoff, Euan Darling, Brett Elofson and Michael Botting at 22 Adelaide Street West, Suite 2600, Toronto, Ontario, Canada M5H 4E3.
CONTACT US FOR MORE INFORMATION Brett Elofson* SVP and Practice Lead Tenant Representation Group +1 416 304 6061 Brett.Elofson@am.jll.com
Eliot Medoff* Vice President Capital Markets +1 416 238 9768 Eliot.Medoff@am.jll.com
Euan Darling* Senior Associate Capital Markets +1 416 238 9961 Euan.Darling@am.jll.com
Michael Botting* Associate Capital Markets +1 416 238 9829 Michael.Botting@am.jll.com
*Sales Representative Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, 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. ©2018. Jones Lang LaSalle. All rights reserved. *Sales Representative **Broker.
