3362-3370 Yonge Street
|Overall Size 28,554 SF|
|Depth 130'||Frontage 88'|
Lennard Commercial (the “Advisor”) is pleased to offer the opportunity to acquire a 100% freehold interest (land and building) in a new-format urban retail commercial property located at 3362-3370 Yonge Street, in the city of Toronto (the “Property”). The building is comprised of 28,554 square feet, (inclusive of the 5,516 square foot lower warehouse level). There are 2 passenger elevators, and a freight elevator servicing the building.
The entire Property is leased to Shoppers Drug Mart, Canada’s largest pharmacy-retailer. Shoppers is also one of Canada’s most recognized and respected brands, and operates nationally with 1,392 locations. The opportunity offers the investor secure and predictable cash flow with a healthy remaining lease term of 9+ years.
The Property enjoys premium Yonge Street frontage with impressive standing. In addition, the Property includes a rear lot of approximately 14 feet x 55 feet. The investment is in a mature neighbourhood, and within one of the most affluent areas of the city. The property is in the retail destination block of this market. National tenants within this block include McDonalds, LBCO, and Mastermind Toys. The asset greatly benefits from the synergies created by these four iconic national brands.
- 9+ Years remaining lease term
- Institutionally owned and managed
- Strategically located in one of the most affluent Toronto communities
- 28,554 SF
- Prominent Yonge Street exposure
- Essential-service needs-based tenancy
- National Brand with 1,392 locations across Canada
- Trophy, generational asset
- Free and clear of financing
New format urban Shoppers Drug Mart comprised of 28,554 square feet (inclusive of 5,516 square feet of lower warehouse area), having a lot frontage of 88 feet, a depth of approximately 130 feet, plus an additional lot at the rear. The building has both a freight, and 2 passenger elevators servicing all floors, with scissor-lift shipping/receiving at the rear.
The entire property is leased to Shoppers Drug Mart until June 31, 2031, offering stable and predictable cash flow with multiple renewal options thereafter.