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The subject offers retail space in an upcoming development which involves 6 buildings, each being 4-5 storeys in height. Building F will have approximately 6,045 SF (4,139 SF sold, 1,906 SF available) on the ground floor for potential retail use. An additional 2,142 SF of retail space can be built if required. The total development will have 400 residential apartments with the first building occupied. The property is situated on the northeast corner of Baseline Road and Morrison Drive, within 2 km of both Highway 417 and Highway 416. The intersection at Baseline Road and Greenbank Road sees approximately 45,000 vehicles in a 24-hr period. This growing affluent area underserviced by specialty retail. The estimated possession date is Spring 2018. Net rental rates start at $27.50 PSF, or a sale price of $400/SF. The maximum size of each retail unit limited to 3,500 SF. We are targeting the following mixture of retailers: Specialty Coffee Shop (i.e. Bridgehead, Starbucks); Gelato / Ice Cream Parlour; Bakery (cupcake store, truffles); Organic Store (Health Food; Specialty Food Store; Yoga; Florist; Potter; Dry Cleaner (depot only); and similar types of retailers. The existing tenants include: electrolosis, rehabilitartion, and medical providers. Free surface parking will be provided for customers of retail stores.
This new development will be located on Baseline Road and the corner of Morrison Drive, and offer ground floor retail space with great visibility on a busy thoroughfare.