Commercial Investor – Ontario – December 30, 2023

Featuring: Commercial•Industrial•Franchise+Business Opportunities

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December 30, 2023–February 10, 2024 Volume 24 | Issue 1

Full Coverage Area Including: London • Kitchener • Niagara Falls • Hamilton • Toronto • Ottawa FOR SALE - 2 APARTMENT BUILDINGS - SW ONT

For Sale: 2 High rise Apartment Buildings 1 Building is brand new and is recently being rented and is 49 suites. The second building is identical and is across the street for a total of 98 suites. The 2 buildings are located in SW Ontario.

Exclusive Listing.

For income and expense proforma contact: WINSTON DAVIES, BROKER OF RECORD WINCORP REALTY INC. REAL ESTATE BROKERAGE GUELPH, ON TEL: 519-836-2080 EMAIL: wjmdavies@rogers.com

FEATURED LISTING

SMART INVESTORS ARE BUYING!

OUR SELLERS ARE RETIRING AND OFFERING BELOW MARKET INTEREST RATE FINANCING MEDICAL CENTRES • PLAZAS GOLF COURSES • MULTI-PLEX STORES & APTS./OFFICE DEVELOPMENT SITES - ALL SIZES

THE A-TEAM

- YOUR COMMERCIAL CONNECTIONBOBAIREY@ROYALLEPAGE.CA

416.705.7507

ACT NOW! MAKE MONEY$

ICIWorld.com

ADD YOUR HAVES AND WANTS FREE FSBO

$1,895,000

42-44 COLBORNE STREET, FENELON FALLS

$1 BILLION OF SALES

FROM NETWORKING AND MAKING CONNECTIONS BEFORE A LISTING IS SIGNED

TRUSTED AGENT FOR KAWARTHA LAKES & TRENT LAKES

heatherahrens.ca

705.887.7878 (24/7)

40,000 LISTINGS 75% EXCLUSIVE 416-214-4875

DAILY NETWORKING EXPLORING OPPORTUNITIES

WANTED

“CONDO TITLED” PROJECTS AND MORE � TOWNHOUSE PROJECTS � WALK-UPS � SEMI-DETACHED � BUILDERS WANTING TO SELL UNITS IN BULK � ALREADY BUILT AND RENTED � CITIES & TOWNS OUTSIDE OF TORONTO � QUICK CLOSE

CONTACT GINO 416.816.4360

genegiordano88@hotmail.ca PRIVATE INVESTOR

2

$5,200,000

103 EMERALD STREET SOUTH, HAMILTON

Well maintained 30 unit apartment building.

1 bach, 23 one bdrm, 6 two bdrm. Several recent improvements including roof, windows, doors, boilers, hot water heaters and more. One passenger elevator. Surface and podium (rear) parking. Professionally managed. Fully rented.

Excellent location. Well maintained. Exclusive.

CALL NEIL KOEBEL

$2,400,000

51 WOODLAWN RD W, GUELPH

6,700SF Plaza situated on 1+/- Acre lot zoned C4-48 on major artery in Guelph directly in front of Walmart/Smart Centre. The building consists of 5 fully rented units with 1,600SF of basement space, plus additional income from Bell Communication tower at the rear of the property. Other features include 5 drive in doors, 9’10 ceiling height, plenty of onsite parking, on public transit line, great exposure.

CALL RYAN BRIGGS

$1,900,000

480 VICTORIA STREET NORTH, KITCHENER

UND

E

1.796 acres of Commercial Land available for sale. Located on the North side of Victoria Street North between Lancaster Street West and Conestoga Expressway. High traffic artery.

Located on public transit route. C-6 zoning allows for a variety of permitted uses some of which include tradesman and contractor’s establishment, commercial parking facility, convenience retail, repair service and more.

Utilities located at the street. MLS

T TRAC N O RC

CALL NEIL KOEBEL

$1,595,000

11 BELMONT AVE W, KITCHENER

Live/Work Duplex recently renovated in AAA Location on 2 public transit lines. 3,600SF building w/ 3 dedicated entrances, currently with spa/clinic layout on lower 2 levels and a 4 bdrm residential home on upper 3 levels. Featuring 13 recently paved parking spaces, fully fenced back yard area, new furnace & A/C, water purifying system, air exchanger, security system, brand new kitchen and much more! MLS. CALL RYAN BRIGGS

$559,900

101 GOLDEN EAGLE ROAD, WATERLOO

Attention investors! Assignment sale of brandnew unit in North Waterloo. 583 sqft 1 bed + DEN 3rd floor unit with balcony and one surface parking space in The Jake Condos. Stylish upgrades with modern features and finishes.

Amazing location in Lakeshore North Waterloo, centrally located steps away from all amenities.

CALL RYAN BRIGGS

KITCHENER, ONTARIO

519.578.0337

NEIL KOEBEL

RYAN BRIGGS

Broker of Record

Sales Representative

CELL: 519.741.6594

CELL: 519.498.5775

Neil@cmarealty.ca

Ryan@cmarealty.ca 3

Industrial Specialists Let us show you what our clients have been enjoying and you’ve been missing.

1.800.914.7510 spearheadpm.com | info@spearheadpm.com

FOR SALE

40% SOLD!!!

LEASIDE COMMERCIAL LOFTS

THESE TYPE OF UNITS NEVER LAST

UNITS STARTING FROM $549,000 JOHN ROBB Sales Representative Vice President Commercial Division j.robb@bosleyrealestate.com

416-440-0056

• • • • •

36 EMPLOYMENT ZONED CONDO UNITS EVERY UNIT HAS A LOADING DOOR 1,300 SQ.FT. AND UP, FROM $410/SQ.FT. 2023 Q4 OCCUPANCY WALK TO LEASIDE RETAIL AMENITIES AND LAIRD/EGLINTON LRT STOP

•

SUITS: OFFICE, WAREHOUSING, CONTRACTORS, LIGHT MANUFACTURING, SERVICES.

• • • • •

OPEN CEILINGS LARGE WINDOWS 2 PIECE ROUGHED-IN ALL UNITS HAVE SHIPPING DOOR ACCESS 60 AMP 120/208 VOLTS ELECTRICAL SERVICE COMMON GARBAGE AREA, PRIVATE PICK-UP LOW COST CONDOMINIUM MANAGEMENT

• •

103 Vanderhoof Avenue Toronto, Ontario M4G 2H5 BOSLEY REAL ESTATE LTD., BROKERAGE RESPECTS THE CONTRACTS OF ITS COMPETITORS.

4

www.teammilovick.com

519-747-2040

Wolle Realty

BROKERAGE INDEPENDENTLY OWNED AND OPERATED

7A-180 Northfield Dr W Waterloo, ON N2L 0C7 | Fax: 519-747-2081

Mike Milovick B.B.A., CCIM, Broker mike@teammilovick.com

Jennifer Shingler

www.TeamMilovick.com

Sales Representative jenn@teammilovick.com

Invest in Ontario’s Number 1 Town Today!

Subscribe: Latest KWC Real Estate News: www.FaceBook.com/TeamMilovick

90 STUDENT BEDROOM PORTFOLIO

172 Regina Street North, Waterloo

BROCHURE

195 Erb Street West, Waterloo

BROCHURE

$4,800,000

$318,900+ Effective Gross Annual Income Available Here! Modern, Purpose Built Eightplex steps to WLU’s Science Building and Athletic Building! Throw a football and hit campus from here! Prime Prime Prime Location. Written leases.

Exceptionally well-maintained, owner-managed rental operation. Separate electric and gas meters. Two full bathrooms per unit. In-suite laundry. Large common areas. All tenants on written lease. This is a Cash flow positive opportunity based on contemporary financing. Nothing to do here but collect good rents – with a further opportunity to increase income even more on re-rental! This is ideal for the veteran rental housing service provider that takes great comfort in operating buildings that are in extreme proximity to campus. Owned/enjoyed by same investment group for last seven years.

MLS®

110-116 Erb Street West, Waterloo

BROCHURE

$1,999,800

Compelling Opportunity! Two buildings situated on three lots in perhaps the most exciting area in Waterloo! Looking for live-work space with income and parking? Or perhaps an infill project/redevelopment site? This site truly has it all. Situated steps to Waterloo Park’s LRT station (about 100 meters) and in front of the Barrel Works Development, this IS the most intriguing site in Waterloo on the market. Uptown Waterloo, with its shops and nightlight, Waterloo Park and Waterloo Rec Centre are quick walks away. Both universities are accessible by LRT - just a stop away!

116 Erb is a mixed use building featuring commercial on main floor and a residential unit above. This building could be ideal as live-work space - in a very convenient, very high-profile area. 110-114 Erb presents as a triplex and was previously rental licensed. MLS®

MLS®

7 Elgin Street, Waterloo

BROCHURE

$3,700,000

Nearly $240,000 Effective Gross Income Available Here! With opportunity to increase rents by additional 20% in next rental season. This modern sixplex apartment building features spacious units with oversized bedrooms, and massive common areas. Two full bathrooms per unit with in-suite laundry. This opportunity is owner built and owner managed - and it shows. Very clean, professional, organized, turn key operation. Individual meters for electricity and gas. Ample parking with most of the spots covered. Great central location with close proximity to University of Waterloo, Uptown Waterloo, Waterloo Park and TNT Grocery Store.

Rental-licensed exempt building! Investor work sheet with full financials applied to contemporary financing available! Solid investment opportunity in one of the Perennially Best Towns in Ontario to Invest In! Prepare to be impressed.

$2,400,000

$164,400 Effective Gross Annual Income Available Here! Invest in a Rare and Profitable Fourplex Near All of Waterloo’s Post-secondary institutions. This is your chance to own a purpose-built, fourplex apartment building in a prime location. It’s just steps away from Wilfrid Laurier University and Uptown Waterloo and a short walk to Conestoga College and University of Waterloo. You’ll never have trouble finding tenants for these spacious and modern units. Each one features five bedrooms, two full bathrooms, and a large open concept kitchen-living room as well as in-suite laundry.

Note handicap access, controlled entry and individual electrical and gas meters. Each unit has its own high efficiency furnace and air conditioner for optimal comfort. This is a quality-built, turn-key rental operation that is exempt from rental licensing.

MLS®

311 Spruce Street, Waterloo

BROCHURE

$1,499,800

Nearly $112,000 Gross Annual Income Available Here with more upswing available! This triplex building is located just a two minute walk to Wilfrid Laurier University, a quick walk to the vibrant amenities of Uptown and an easy walk to University of Waterloo. All units have generously sized common areas and spacious bedrooms with individual temperature control. Thoughtfully designed with a compelling unit mix of 3, 5, and 6 bedroom units. Ample parking. Note individual electrical meters! Roof done in 2022! This money maker will work well for: savvy investor looking for a foothold in lucrative Waterloo rental market, parent investor that seeks the ultimate location for their university bound child or even a university employee that wants to live close to work and generate mortgage helper income through the other units.

MLS®

View Brochures Online at www.thecommercialinvestor.ca 5

$2,250,000

1045 ST. JOHNS ROAD EAST 99.83ac multi-purpose farm property located in south-east Norfolk County. Hidden gated entry provides access to a 2 storey duplex-style century home overlooking farm fields & mature forest. 2 rustic, yet functional post & beam barns (50x28 barn, 32x74 barn w/34x18 lean-to). Expanding cash crop or dairy farmer, aprox. 55 acres of fence-row free “Beverley” clay/loam fertile soil - Vendor indicates workable acreage could easily be enlarged by 15-20 ac just by cleaning grown-in perimeter scrub/tree fences lines. Incredible multi-generational venue! Sold “AS IS” - Estate Sale.

$1,695,000

9718 CONCESSION #1 ROAD, WEST LINCOLN

34.45ac rural property enjoying over 1000ft of quiet non-thru road frontage bordering Chippewa Creek. Slow winding lane carved thru lush soy bean fields leads to magical, secluded setting where a beautifully maintained 2579sf brick bungalow incs orig. 1974 section & 1997 addition. All barns/outbuildings ftr recently painted metal roofs incs 30x60 Coverall building, 30x24 pine board garage/shop, 30x45 hip roof barn w/16’ wraparound lean-to, conc. former feed-lot area + 30ac of fence-row free workable land. Extras-oil tank 13, AC, roof ’22, 6500g cistern, barn well & Andersen windows.

$699,900

$7,500,000

$3,500,000

1289 HIGHWAY 54, CALEDONIA Established GRAIN ELEVATOR/SEED CLEANING FACILITY incs 51.09ac property, century home w/in-law addition, 2 grain elevator receiving pits w/tower grain dryer & 80’ truck scale, 340,000bu bin storage, add. 60,000bu of Quonset storage (400,000bu total) w/extra storage at seed cleaning facility. Various sized buildings allow for add. storage. Used for round-up ready soybeans -can be converted for cleaning nonGMO soybeans. Precision cleaning capacity 8MT/hr - treating capacity 20MT/hr. 28ac of tiled workable land, natural gas & 400 amp hydro w/phase converter.

$950,000

5363 AIRPORT ROAD, MOUNT HOPE

316 MAPLE STREET, DUNNVILLE

RARE 194ac parcel of land w/frontage on Airport Rd & White Church Rd. Incs 2 dwellings, 5048sf building, 4991sf barn & 175ac workable/tiled land (rented yr/yr @ $129 p/ac).

Dwelling#1 (2473sf) offers 3 bedrms/2 baths, ins/htd garage addition - Dwelling#2 (1226sf) ftrs 2 bedrms/2baths. Both houses inc roofs’13, water purification’20, sep. wells/septic & 100 amp. Located in general area where proposed future Red Hill to White Church Rd/Airport & Glover Rd expansion may occur - pipeline ROW dissects property-potential severance.

By appointment only.

6 unit, 5647sf double brick “Dunnville Icon”-incs 2 Comm. Units & 4 Res. Units. Enjoys corner frontage on Maple & Alder St near downtown, schools & parks. Originally constructed as church in 1870-retrofitted in 1910 bordering neighboring parking lot. 2 Comm. units offer large retail space, 11’ ceilings, plank flooring, n/g furnace & 1 bath (shared by 2 units). 865sf unfin. unit ftrs swing doors- minimal cost to renovate into extra rental unit. Incs 1 MF 2 bedrm unit & 3 UL units (all 2 bedrms). All units rented generating aprx. annual gross aprx-$37,795/aprx. annual net$24,792- poss. upside to increase current below market rent.

$455,000

$95,000

120 OLD HWY 3, JARVIS

19 RIDOUT STREET W, TILLSONBURY

209 CHESTNUT STREET, DUNNVILLE

Jarvis Country Opportunity featuring 1.98 ac corner parcel on desired Old Highway #3 with approximately 434’ feet of frontage with Industrial zoning component (legal – non conforming). Offering a 2 bedroom, 1 bathroom Bungalow and approximate 103’ x 40’ shop/garage with washroom, office area, & approximate 12 ft ceiling height. Separate water & septic source for the home and the outbuilding. Call LA re: HST, legal nonconforming zoning, tenant vacancy, & more info regarding due diligence. Being sold “as is”. Seller does not represent zoning, septic, water, or any info regarding the property. *No interior viewing of the home until offer has been accepted due to tenant.

Exceptional office building boasts a strategic location in this busy town, two spacious office areas with welcoming waiting area, a fully equipped kitchen, and a versatile meeting hall on the main level. Additionally, the basement area offers multiple rooms that can be customized to suit your unique needs. Don’t miss out on the chance to establish or expand your business in this fantastic location.

Vibrant restaurant business in heart of Dunnville’s downtown, ex. visibility & hi-volume of daily pedestrian traffic. “Small Dimensions” - renowned for outstanding, healthy food w/no additives or preservatives incs steady/loyal clientele base. Ftrs large foyer providing entry to 810sf dining area, 10ft ceilings accommodating 46 patrons & fully equipped 400sf comm. kitchen. New Buyer/Tenant to negotiate long term lease w/ Landlord - all leases to inc permission to use 2 clean washrooms in secured adjacent common area. 2-4 parking spots & street parking. Viewings by appointment only - do not enter during business hours.

6

unique investment opportunity

Land deveLopment opportunity

east HamiLton

tHoroLd

8 spacious condo townhomes for sale. All 3 bed,1.5 baths, walk-out basements, private courtyards and attached single car garages. Units fully tenanted and being sold in a bundle, making this a unique investment to add to your portfolio. Tenants pay own hydro, 4+2 visitor parking.Roof reshingled 2020, electric heat throughout, no central air, 8 owned water heaters,windows approx10-12 yrs. There is possibility to add additional units on the approximate 31,000 SQFT. $3,800,000

Future development possibilities in this 4.798 Acre parcel of land that borders Welland/Thorold. Adjacent property, in Welland boundary, is zoned low density residential.

Property is close to Brock University Campus (15 Minutes), Niagara College (1km) new residential developments, plaza for shopping and all amenities and close to highway Access. Land only for sale. Current zoning FD - EP2.

Contact for more info. MLS H4117393. $3,225,000

7

Flexible sizes up to 100,000 sf and up to 4.5 acres outdoor parking/storage 7551 Jane Street, Vaughan

ET E LECR

MAP

PEEL

T

REE

E ST

JAN

AR

–

D ROA

R OA D

–

Four bays of approx. 21,000 sf plus 2,500 to 5,000 sf of common area, office and storage areas Ceiling heights - 15’ to 25’ clear

Get more information

Kyle Albert Sales Representative 905 968 8029 kyle.albert@avisonyoung.com

– – –

Column free Two oversized drive-in doors Access from frontages on 3 roads

Matt Gunning, SIOR Broker | Principal 905 968 8003 matt.gunning@avisonyoung.com

SCAN ME Mark Sullivan Sales Representative 905 968 8010 mark.sullivan@avisonyoung.com

Joe Pandolfo Chief Executive Officer 416 887 3661 jp@odevelopments.ca

© 2023 Avison Young Commercial Real Estate Services, LP, Brokerage.

DEVELOPMENT SITE – TORONTO 200,000 SQFT GFA, *Ravine view* Mid-Rise Development.

With existing $500,000 net income. VTB available.

Principals welcome. Brokers welcome.

FOR INQUIRIES CALL 647-637-1212 8

contents 10 14 18 22 24

Choosing a foreign sales agent?

Questions to ask before selecting a candidate

NEXT ISSUE:

February 10, 2024 ADVERTISING DEADLINE:

January 31, 2024

What makes innovation districts work?

GROUP SALES MANAGER Randi Segal

Protect your business from directory fraud

1.866.536.2606

randi.segal@mediaclassified.ca TO ADVERTISE Chris Bosnich

BDC study: Strong online presence drives growth

1.866.532.2609

chris.bosnich@mediaclassified.ca PRESIDENT & PUBLISHER Leo Racioppo leo@mediaclassified.ca

Vacant possession

CHIEF OPERATING OFFICER John Racioppo john@mediaclassified.ca ACCOUNTING INQUIRIES accountingteam@mediaclassified.ca

REGIONS Kitchener, Waterloo & Guelph.......... 12 Eastern Ontario.............................. 23

CIRCULATION INQUIRIES distributionteam@mediaclassified.ca DIRECTOR OF PRINT MEDIA Lauren Reid-Sachs GRAPHIC DESIGNER & ASSISTANT MANAGER Alicesa Pullan GRAPHIC DESIGNER & PRE-PRESS COORDINATOR Hannah Yarkony GRAPHIC DESIGNERS Yvonne Poon, Mike Terentiev All submissions from interested parties will be considered.

Please submit to the editor at editorial@mediaclassified.ca

YORK BRAMPTON TORONTO MISSISSAUGA

DURHAM

HOME OFFICE 610 Applewood Crescent, Suite 103, Vaughan ON L4K 0E3 T: 905.761.3313 press 5 Toll Free: 888.761.3313 press 5 F: 905.761.5038 E-mail: info@thecommercialinvestor.ca Website: thecommercialinvestor.ca Copyright Notice All copyright and other intellectual property rights in the contents hereof are the property of Commercial Investor, and not that of the individual client. The customer has purchased the right of reproduction in Commercial Investor and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of Media Classified Corporation. Contents of this publication, in hard copy format as well as online, are covered by copyright law, and offenders will be prosecuted.

Copyright 2024. All rights reserved. Reproduction, storage in a retrieval system or transmission, in any form or by any means, whether electronic, mechanical or otherwise, in whole or in part, without prior written permission of Media Classified Corporation is strictly prohibited.

Choosing a foreign sales agent?

Ten questions to ask before selecting a candidate

You’ve decided it’s time for your business to venture into foreign markets. To do so, you have also realized that to be successful, you need feet on the ground, a trusted representative who will serve your interests and make business happen in your market of choice. You need a foreign sales agent.

THIS IS AN INDIVIDUAL who knows your target market, is a resident of that market and has experience driving sales on behalf of organizations comparable to yours.

10

Even if you’re prepared to staff an overseas office with familiar faces, you still need reliable and credible individuals who have the local experience and knowledge that your team does not.

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

Finding a foreign sales agent is easy. Selecting the best one for your business is more challenging. Here are 10 questions to ask once you have a list of candidates and are trying to make a final choice.

1. Can we meet?

This is an essential first step.

2. Can you provide me with references?

You want to talk to other clients with businesses similar to yours. Any hesitation to provide this should raise an immediate red flag. When checking the references, ask about December 30, 2023–February 10, 2024

processes for terminating the relationship, non-disclosure agreements and so forth.

7. Which regions of your country do you cover?

As a risk reduction strategy, you typically should not give an agent exclusive rights to represent you throughout an entire country. It’s better – at least in the beginning – to divide the market between a few agents, than to put all your eggs in one basket, should a single agent prove unreliable or dishonest.

8. Who else do you represent?

You want to know if they represent competitors and have a conflict of interest. Hesitation to provide this information is another red flag. There are unscrupulous individuals who work to deceive companies that pose a competitive threat to their clients.

9. What is your action plan for selling my product?

Try to determine whether they are going to be just reactive, or proactive.

how reliable, trustworthy and productive your prospective sales agent has been.

3. How well do you know my product?

An experienced and credible agent should be willing and able to sit down with you and carry out a quick strengths, weaknesses, opportunities and threats (SWOT) analysis of your product in the market. Hesitation is again cause for concern.

4. What resources do you have to represent my December 30, 2023–February 10, 2024

interests and achieve my business goals?

It’s important to understand what kind of support your sales agent will be providing to you.

5. What support do you require from me?

At the same time, you should be clear on what your commitment will be to help the sales agent do the best job possible for you.

6. What’s the fine print?

This should include clear specifics about sales territories, commissions, grounds and

10. Can I have all this in writing?

Some agents will attempt to win your business on a handshake.

Gentlemen agreements have no place here. The only way to protect your interests is to draft a binding legal contract.

Final thoughts

Remember, it’s far better to have a few good agents than a larger number of mediocre ones. Not only will bad ones perform poorly on your behalf, the cost of managing those relationships can be a substantial drag on your time and resources. CI Source: bdc.ca

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

11

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

519.742.7000 www.coupalmarkou.com

SALE

SALE

10,12,14 ROSEDALE AVENUE, KITCHENER

151 SIEBERT AVENUE, KITCHENER

D L SO

• 3 well maintained buildings with 17 units total • 11 one-bed, 5 two-bed, and 1 bachelor unit • Recent capital improvements • Data room available

SALE

• $3,060,000 • 19 parking spaces • Located next to public transit and Hwy 8

186 WELLINGTON STREET N, KITCHENER

EXCL

SALE

• 6 two-bed and 3 three-bed units • Recent capital improvements • Separately metred for hydro • Seller will consider a vendor take back 1st mortgage for a qualified buyer MLS • $2,025,000

21 KING STREET N, WATERLOO

D L SO

• Excellent redevelopment site • Corner lot with freestanding triplex and garage shop all leasable • $1,395,000

MLS

SALE

• Pristine and ready to occupy • On-site parking • Newly renovated interior and exterior • 6 private offices

• Prime investment opportunity • Main floor approx. 1,800 sq ft leased to tenant • Second floor approx. 1,000 sq ft of two 1 bed units with month to month rent

SALE

647 KING STREET W, KITCHENER

• $1,275,000 • High visibility corner location • 2 floors of office space, kitchenettes and bathrooms

Christopher Coupal

John Markou

Broker of Record, Principal christopher@coupalmarkou.com 519-742-7000 x 101

Broker, Principal john@coupalmarkou.com 519-742-7000 x 102

• $1,319,000 • High traffic exposure • Close to many amenities

MLS

MLS

1795 & 1805 SAWMILL ROAD, CONESTOGO

• Great redevelopment opportunity • Rezoned C-3 with site provisions • Approx. 3.59 acres

• Partially renovated and upgraded • $2,495,000 EXCL

CONNECT

The information set out herein is for advertising purposes, with information obtained from sources deemed to be reliable. No warranty or representation is made as to its accuracy, correctness and completeness of the information, being subject to errors, omissions, conditions, prior sale/lease, withdrawal or other changes without notice. Coupal Markou Commercial Real Estate Inc., Brokerage

12

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

December 30, 2023–February 10, 2024

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

519.742.7000 www.coupalmarkou.com

LEASE

136 KING STREET S, WATERLOO

• Fully demised office space • High visibility/Uptown Waterloo • 2 Parking spaces • 3,590 sq ft • $18.50/sq ft net

LEASE

960 VICTORIA STREET N, KITCHENER

• Robust exterior with large bay doors • Industrial/service space with storage • Abundance of parking • 28,738 sq ft • $13.50/sq ft net

LEASE

MLS

LEASE

• Retail unit near Bingemans Centre Dr • Newly updated exterior and roof • Great street visibility, signage, and storefront • 7,627 sq ft MLS • $14.95/sq ft net

• Plaza nestled nicely in the centre of student residences • On-site parking and excellent visibility • 1,318 sq ft MLS • $28.00/sq ft net

LEASE

MLS

7 GRAND AVENUE, CAMBRIDGE

• Service commercial/office space • Wide range of uses with-in zoning • 1,359 sq ft • $19.95/sq ft net

VICTORIA STREET N, LEASE 10 – 1373WATERLOO

• Excellent North Waterloo office space • Built out offices and air-conditioned shop area • Signature development • 2,035 sq ft • $11.50/sq ft net MLS

LEASE

MLS

B2 – 490 DUTTON DRIVE, WATERLOO

301 – 55 ERB STREET E, WATERLOO

• Office space with excellent visibility • Utilities included in additional rent • Abundance of natural light • 1,889 sq ft • $16.95/sq ft net

Christopher Coupal

John Markou

Broker of Record, Principal christopher@coupalmarkou.com 519-742-7000 x 101

Broker, Principal john@coupalmarkou.com 519-742-7000 x 102

LEASE

373 BRIDGE STREET W, WATERLOO

• Walk-up retail space • Abundance of customer parking • 4 driveway entrances/exits to plaza • 951 sq ft and 968 sq ft • $24.00/sq ft net

LEASE

MLS

10 – 465 PHILLIP STREET, WATERLOO

MLS

722 BELMONT AVENUE W, KITCHENER

• Walk-up retail space • High foot traffic • Ample area parking • 701 sq ft • $38.00/sq ft net

MLS

CONNECT

The information set out herein is for advertising purposes, with information obtained from sources deemed to be reliable. No warranty or representation is made as to its accuracy, correctness and completeness of the information, being subject to errors, omissions, conditions, prior sale/lease, withdrawal or other changes without notice. Coupal Markou Commercial Real Estate Inc., Brokerage

December 30, 2023–February 10, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

13

What makes

innovation districts work?

14

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

December 30, 2023–February 10, 2024

Panel discussion offers insight into the tech sector and Toronto’s recent ‘tech boom’ International design and strategic consulting firm B+H recently partnered with the Urban Land Institute (ULI) Toronto to host a panel discussion. The event focused on the changing workplace, the rise of innovation districts, and how it is influencing new development.

Panelist moderator Catherine Osborne described an innovation district as an urban phenomenon – born organically with the rise of Silicon Valley – where tech entrepreneurs cluster based on the need to share knowledge and talent. Osborne, a writer and editor with an expertise in architecture and urbanism, explained that the main feature of innovation districts is that they are community based, not siloed in office buildings.

Patrick Fejer, senior design principal at B+H, whose firm was the lead designer for the MaRS Phase II building in Toronto, said: “We previously used to measure efficiency of an office building by how many people we can populate on a floorplate, but now the focus is really about what events can transpire, what amenities does this building have, what kind of programs can promote community activity.”

But beyond the workplace, what makes an innovation district – whether planned or organically formed – sustainable? How do we design cities, streets and urban cores to sustain this kind of growth?

The city of Melbourne, which is half the size of Toronto, has esteemed educational institutions and is becoming a leader in the educational technology and biotech sectors, attracting both local and December 30, 2023–February 10, 2024

international tech companies to lay roots in the city. This is contributing to a $2.2- billion start-up market.

“Why are they choosing to stay here?” said Michelle Fitzgerald, Melbourne’s first-ever chief digital officer. “It’s about the talent and the livability of the city, strong transit links, great school systems for people to raise a family, great coffee and food.”

Toronto has been cited as the fourth largest and fastest-growing tech-hub in North America. “Toronto is a safe, wonderful place, and we have incredible timing based on what is happening in the US over the last couple of years,” said Candice Faktor, managing partner, Faktory Ventures, an early-stage fund investor in exponential technologies and network effects, and a strong advocate of Toronto’s tech economy. “I think MaRS, in particular, has benefited from Toronto’s ecosystem being a cluster of AI innovation. It was the global recognition of the AI eco-system which brought a lot of talent and capital here.”

The panelists went on to discuss how to balance affordability with great places to work and discussed a new breed of co-living rental spaces that model the rise of the co-working space – units with more shared spaces, Instagramworthy décor, and recreational programming. Spaces are being re-imagined for “the mobile Millennial talent who want to work in innovation hubs but can’t afford to live in the city,” said Faktor.

The importance of having mixeduse neighbourhoods to sustain the growth of innovation districts was also addressed. CI

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

15

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

KITCHENER | RETAIL CAMBRIDGE | RETAIL

| RETAIL

KITCHENER KITCHENER | RETAIL | RETAIL

KITCHENER | RETAIL

MLS® 40411512

MLS® MLS® 40338977 40385542

ALSO AVAILABLE FOR SALE MLS® 40453281 ALSO AVAILABLE MLS® 40508108 FOR SALEALSO AV

#1-26 MAIN STREET

KITCHENER | RETAIL

1,175 2,403 SF | $20.00/SF 4,059 2,000 SF |MAIN $18.00/SF #3-815 WEBER E. SF | $2,700/Month #3-815 WEBERSTREET ST. E.SF |N$11.00/SF DAVID STREET 30 QUEEN 30 #104-51 QUEENLester STREET N #1-26 STREETST. James Boudreau** x 3020 Tobin* x 3023 James Boudreau** x 3020 Lester Tobin* x 3023

TREET

00/SF x 3023

MLS #104-51

1,175 | $2,700/Month 1,175 SF | $2,700/Month 4,059 SF | $11.00/SF 2,000 SFSF | $18.00/SF

SF | $20.00/SF 4,0592,403 SF | $11.00/SF

BRESLAU | RETAIL WATERLOO | RETAIL

LONDON | RETAIL WATERLOO|INDUSTRIAL WATERL

BRESLAU |Boudreau** RETAIL WATERLOO | RETAIL LONDON RETAILBoudreau** WATERLOO|INDUSTRIAL JamesTobin* Boudreau** James x 3020 Lester Tobin*x 3020 x 3023 James Boudreau** x 3020 |James Lester x 3023 x 3020

| RETAIL

KITC

KITCHENER | RETAIL

MLS® 40338977 MLS® 40338977 MLS® MLS® 40411512 40385542 MLS® 40385542 MLS® 40453281 MLS® 40453281 MLS® 40508108 #3-815 WEBER ST. E. #104-51 DAVID STREET 30 QUEEN STREET N

1512

9275

KITCHENER | RETAIL KITCHENER | RETAIL

CAMBRIDGE | RETAIL

MLS® 40489275 #2-25 COLUMBIA ST. E.

BRESLAU | RETAIL LONDON | RETAIL

MLS® 40282665

MLS® 40511834

MLS® 40517828

10 TOWNSEND DRIVE

640 RICHMOND STREET

4-665 COLBY DRIVE

4,059 SF | $11.00/SF James Boudreau** x 3020

2,558-6,297 SF | $32.00/SF James Boudreau** x 3020

KITCHENER | OFFICE

KITCHENER | OFFICE

MLS® MLS® 40489275 40282665

IA ST. E. #2-25 10COLUMBIA TOWNSEND ST.DRIVE E.

1,375 SF | $5,500/Month Lester Tobin* x 3023

MLS® 40511834 MLS® 40282665

1,065 SF | $14.00/SF Chad Ritzer* x 3033

MLS® MLS® 40511834 40517828

MLS

10 640 TOWNSEND DRIVE RICHMOND STREET 640 RICHMOND 4-665 COLBY STREET DRIVE

4-665

KITCHENER | OFFICE

KITCHENER | OFFICE

.00/SF 4,059 2,558-6,297 SF | $11.00/SF SF | $32.00/SF 2,558-6,297 $32.00/SF 1,375 SFSF||$5,500/Month 1,375 SF 1,065 | $5,500/Month SF | $14.00/SF * x 3020 James James Boudreau** Boudreau** x 3020 x 3020 James Boudreau** Lester Tobin*x 3020 x 3023 LesterChad Tobin* Ritzer* x 3023 x 3033

| OFFICE MLS® KITCHENER | OFFICE KITCHENER | OFFICE KITCHENER | OFFICE KITCHENER | OFFICE KITCHENER | OFFICE KITCHENER | OFFICE MLS® 40351737 40470760 MLS® 40400900 MLS® 40518811 MLS® 40338977 96-100 HIGHLAND RD.W.

508 RIVERBEND DRIVE

#204-501 KRUG STREET

84-409 SF | From $325/Mth Cindy Theoret* x 5020

690 SF | $16.00/SF James Boudreau** x 3020

819-3,007 SF|FROM $11.00/SF James Boudreau** x 3020

KITCHENER | OFFICE

WATERLOO | OFFICE

CAMBRIDGE | OFFICE

BREALSU | OFFICE

MLS® 40351737 MLS® 40400900

1,065 Chad

KITC

7 DUKE STREET W.

311-903 SF | $12-$20.00/SF James Boudreau** x 3020

MLS® 40351737 MLS® 40470760 MLS® 40338977

2,403 Lester

MLS® 40400900 MLS® 40518811

MLS

D RD.W.96-100 508HIGHLAND RIVERBEND RD.W. DRIVE 508 #204-501 RIVERBEND DRIVE KRUG STREET #204-501 KRUGSTREET STREETW. 7 DUKE

7 DU

0760 977

20.00/SF311-903 84-409 SF |SF$12-$20.00/SF | From $325/Mth84-409 SF690 | From SF |$325/Mth $16.00/SF 690 SF | $16.00/SF 819-3,007 SF|FROM $11.00/SF819-3,007 MLS® 40413371 MLS® 40431105 MLS® 40398399 MLS® 40338489 * x 3020 James Cindy Boudreau** Theoret* x 3020 x 5020 Cindy Theoret* x 5020x 3020 James James Boudreau** Boudreau** x 3020 James Boudreau** x 3020 James Bo 650 RIVERBEND DRIVE

99 NORTHFIELD DRIVE E.

34 WATER STREET N.

31 BEACON POINT COURT

Lester Tobin* x 3023

Chad Ritzer* x 3033

James Boudreau** x 3020

James Boudreau** x 3020

BREALSU | OFFICE WATERLOO | OFFICE CAMBRIDGE | OFFICE | OFFICE CAMBRIDGE 3,000–KITCHENER 10,473 SF | $16.00/SF | OFFICE | OFFICE 695-2,287 SF WATERLOO | $11.95/SF 2,437 SF | $12.00/SF 5,000 |SFOFFICE | $14.50/SF

8489

BR

Each office is Independently Owned and Operated 16

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

MLS® 40413371 MLS® 40338489

MLS® 40413371 MLS® 40398399

D DRIVE 65099RIVERBEND DRIVE NORTHFIELD DRIVE E.99 NORTHFIELD 34 WATER DRIVE STREETE.N.

December 30, 2023–February 10, 2024

MLS® 40431105 MLS® 40398399 34 WATER STREET N.

MLS

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

CHENER

KITCHENER KITCHENER

KITCHENER

MLS® 40506861

6861

KITCHENER CAMBRIDGE

KITCHENER

CAMBRIDGE

MLS® 40470969

MLS® 40493909

CAMBRIDGE CAMBRIDGE

CAMBRIDGE

MLS® 40267992

MLS® 40506861 MLS® 40267992 MLS® 40470969 MLS® 40470969 MLS® 40493909 RETAIL PLAZA MLS® 40493909 COMMERCIAL/RESIDENTIAL OFFICE/RETAIL BUILDING COMMERCIAL BUILDING

MLS

5 UNITS| $1,599,900 1,750 SF | $1,250,000 11,679 SF |BUILDING $2,500,000 COMME COMMERCIAL/RESIDENTIAL COMMERCIAL/RESIDENTIAL BUILDINGOFFICE/RETAIL BUILDING COMMERCIAL RETAIL PLAZA 5 UNITS | $2,190,000 RETAIL PLAZA Eric Frey* x3118 James Boudreau** x3020 James Boudreau** x3020 Chad Ritzer* x3033 5 UNITS| $1,599,900 5 UNITS| 250,000 1,7505 SF | $1,250,000 11,679$1,599,900 SF | $2,500,000 11,679 UNITS | $2,190,000 5 UNITS | $2,190,000 KITCHENER KITCHENER KITCHENER Eric Frey* x3118 Eric Frey* x3118 GUELPH ** x3020James Boudreau** James Boudreau** x3020James Bo Chad Ritzer*x3020 x3033 Chad Ritzer* x3033

CHENER

1306

KITCHENER KITCHENER MLS® 40501306

KITCHENER KITCHENER

MLS® 40478225

GUELPH KITCHENER

MLS® 40397799

MLS® 40321109

REDEVELOPMENT LAND REDEVELOPMENT SITE MEDICAL OFFICE BUILDING BUILDING/0.31 AC. LAND 1,242 SF | $1,650,000 1.210 Acres | $7,900,000 9.53 Acres | $19,500,000 5,074 SF | $1,600,000 John Hoffman* x 3040 Eric Frey*MLS® x 3118 James Boudreau** x3020 JamesMLS® Boudreau** x3020 MLS® 40321109 MLS® 40478225 40478225 MLS® 40397799 MLS® 40397799 40501306 KITCHENER

MLS

KITCHENER

ORANGEVILLE ST. MARYS REDEVELOPMENT LAND REDEVE BUILDING/0.31 AC. LANDBUILDING/0.31 AC. LAND REDEVELOPMENT SITE REDEVELOPMENT SITE BUILDING MEDICAL OFFICE BUILDING 9.53 Acres | $19,500,0009.53 Acr 1,242 | $1,650,000 1,242 1.210 SFAcres | $1,650,000 | $7,900,0001.210 Acres | $7,900,000 600,000 5,074 SF | SF $1,600,000 Hoffman*x3020 x 3040 John Ho Eric Frey* xx3020 3118 James Eric Frey* Boudreau** x 3118 x3020JamesJohn Boudreau** ** x3020James Boudreau**

CHENER MLS® 40434713 KITCHENER KITCHENER MLS® 40463973 RETAIL INVESTMENT 10,656 SF|$7,500,000 Lester Tobin* x 3023

KITCHENER ORANGEVILLE MLS® 40400544

ORANGEVILLE MARYS MLS® ST. 40454420

BUSINESS & CONDO $925,000 James Boudreau** x3020

BUILDING/19.88 AC. LAND 45,711 SF | $22,500,000 John Hoffman* x 3040

COMMERCIAL BUILDING 4,900 SF | $975,000 Chad Ritzer* x3033

LONDON

KITCHENER

WATERLOO

WINDSOR

4713

MLS® 40463973 MLS® 40434713

MLS® 40463973 MLS® 40400544

TMENT 500,000 x 3023

BUILDING/19.88 AC. LANDBUILDING/19.88 AC.BUILDING LAND BUSINESS & CONDO BUSINESS & CONDO RETAIL INVESTMENT COMMERCIAL COMME 45,711 SF | $22,500,000 45,7114,900 SF | MLS® $22,500,000 $925,000 $925,000 10,656 SF|$7,500,000 SF | $975,000 4,900 40482962 MLS® 40480768 MLS® 40464058 MLS® 40493046 BUSINESS ONLY Hoffman*x3020 x 3040 John Hoffman* x 3040 JamesTobin* Boudreau** Boudreau** Lester x 3023 x3020JamesJohn Chad Ritzer* x3033 Chad

COMMERCIAL BUILDING RETAIL INVESTMENT 1,375 SF | $849,000 9,300 SF|$1,799,000 WINDSOR WINDSOR LONDON Lester Tobin* x 3023 Lester Tobin* x 3023

0768

MLS® 40400544 MLS® 40454420

BUSINESS FOR SALE $150,000 LONDON KITCHENER James Boudreau** x3020

MLS

BUSINESS FOR SALE $200,000 KITCHENER WATERLOO Lester Tobin* x 3023

Each office is Independently Owned and Operated December 30, 2023–February 10, 2024

MLS® 40480768 MLS® 40493046

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

MLS® 40464058 MLS® 40493046

MLS® 40482962 MLS® 40464058 BUSINESS ONLY

17

MLS

BU

Protect your business from

directory fraud

Companies big and small are vulnerable to all kinds of fraud – identity theft, internal fraud and business directory and supply scams. This is not just an online problem; it can also happen over the phone and in person. Below is an example of a popular directory scam.

Your company receives a call, an email, or a fax to confirm its address and contact information.

You are extremely busy in your small, growing business, so you confirm the information and move 18

on to the next pressing issue. A few weeks later you receive an invoice for online advertising for several hundred dollars from an unfamiliar company. When you call their customer service you are told they

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

have a recording of you agreeing to the services and if you don’t pay, they will send your file to a collection agency. You don’t have time for this, so you pay the invoice and get back to work. After all, online advertising can’t be bad for your business!

This is how it’s done: You’ve been scammed. Chances are your company’s name will get buried in a listing that no one will see, because it’s not even accessible via regular search methods. That’s their definition of advertising.

Directory scams are very common; they target businesses December 30, 2023–February 10, 2024

Scam artists may also record your voice while you confirm your business information, which can be edited to suit their fraudulent purposes.

across Canada and around the world. Fraudsters use misleading tactics to pressure businesses to pay for directory listings of little or no value.

In some cases, they lead businesses to believe that a contract is already in place during the initial communication. They make it look official by already having the company’s contact information on hand when they’ve simply obtained that information online, or through existing directories. These scam artists may also record your voice December 30, 2023–February 10, 2024

while you confirm your business information, which can be edited to suit their fraudulent purposes.

This type of scam happens quickly, and the financial consequences are harmful to thousands of small businesses in Canada every year.

Use these tips to help avoid falling victim to fraudsters:

• Educate yourself, your employees and your co-workers to be cautious of unsolicited calls and emails.

• Create a list of companies that are typically used by your business.

• Limit the number of staff who can approve purchases and pay bills.

• Clearly define procedures for verification, payment and management of accounts and invoices.

• Examine invoices carefully before making any payments: Fraudsters will use company names or logos similar to those of known businesses to make their invoices seem real.

• Ask questions and read all documents very carefully before confirming your business information, whether it’s over the phone or by signing a document, to ensure that you will not be unknowingly charged. CI If you’ve been the victim of a directory scam or if you have information about this type of scam, report it to the Competition Bureau (1.800.348.5358) or the Canadian Anti-Fraud Centre (1.888.495.8501).

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

19

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

WE HELP YOU GROW YOUR DREAMS

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CONTACT: MICHAEL BABBIE, Sales Representative mbabbie@cbci.ca | d 289 725 5088 | c 647 272 5899 MICHAEL SCHULER, Senior Vice President & Partner mschuler@cbci.ca | d 289 291 5067 | c 416 274 7467

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December 30, 2023–February 10, 2024

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Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

21

BDC study:

Strong online presence drives growth

Growing a business online results in higher revenues, direct communication with customers and easier access to global markets, according to a new study released in July by the Business Development Bank of Canada (BDC).

The study indicates that although being online fuels growth, only four out of 10 Canadian small and medium-sized enterprises (SMEs) with an online presence sell, receive and take orders online. Consequently, 60 per cent of Canadian SMEs are missing huge growth opportunities.

“Still too many Canadian entrepreneurs leave money on the table for grabs by Canadian and foreign online competitors.

Considering worldwide retail e-commerce sales are expected to double between 2018 and 2021, it is vital that Canadian business owners take their digital presence seriously,” says Pierre Cléroux, vice-president, Research and Chief Economist at BDC. “A strong online presence should be at the heart of

any business that wants to continue growing and remain competitive.”

The study is based on a survey of 1,485 Canadian businesses with an online presence and with national or international activities. Although most Canadians are buying online, close to half of all Canadian SMEs didn’t have a website in 2017, according to Statistics Canada.

Growing online: Worthwhile but challenging

The study finds that businesses building a market expansion strategy on top of an online strategy are more likely to enjoy higher revenues and profit growth. They are also close to three times more likely to export. However, SMEs face a variety of challenges when growing

their business online, such as data protection and security (32 per cent), lack of knowledge of Internet technologies (25 per cent) and the difficulty of hiring and retaining qualified talent (24 per cent).

Only 15 per cent of respondents identify the cost of setting up an online store as their top challenge.

Businesses that expand online spent on average $37,458 on their website and $29,210 on their online marketing in the last three years.

Larger businesses tend to spend seven times more than smaller businesses to optimize their online presence.

Planning is key

“The first step in expanding online into new markets is to get your online strategy right. Then, you can build your market expansion strategy on top of it,” says Philippe Desjardins, business advisor at BDC Advisory Services.

“As in many business opportunities, planning is the best way to achieve long-term, sustainable success and avoid common pitfalls.”

The study also identifies six online practices businesses can follow when expanding to new geographic markets: 1. Measure your business’ website performance 2. Improve your visibility with search engine optimization 3. Invest in search engine marketing 4. Continually tweak your website to meet customer expectations 5. Make your online expansion plan the core of your strategic plan 6. Personalize it with customization CI Source: Business Development Bank of Canada. bdc.ca

22

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

December 30, 2023–February 10, 2024

EASTERN ONTARIO

John Shewchuk SALES REP

Cell: 905-404-5038

Email: jshewchuk@royallepage.ca

Brian Shewchuk SALES REP

Cell: 289 688 8047 | Email: brianshewchuck@royallepage.ca

Royal LePage Frank Real Estate, Brokerage OFFICE: 905-623-3393

NEW 29K SF INDUSTRIAL - BUY LEASE OR PARTNER! + POTENTIAL FOR 60K SF SELF STORAGE PHASE 2

So much choice! NEW 29,600 SQFT industrial BLD completing Q3 2024 for lease OR sale, and planned Phase 2 project for + 60,000 SQFT self-storage facility! High-demand + income generating assets with great investment potential! Clarington. Call Brian.

LICENSED RESTAURANT + BUILDING OR SALE

2500 SQFT building and one acre commercial property. HUGE paved parking area, outside patio! Popular well known 20+ year business. High visibility & high traffic location! The full package! Owners will hold a 1st mortgage (OAC).

Newcastle Clarington. Asking price $1,700,000

1.5 ACRES OPEN STORAGE LAND - CLARINGTON

Ideal general industrial zoning! Serviced, Improved, Fenced, w/ Short Term lease!

Great opportunity for investors, developers, or end-users. Clean ENV + other DD Documents available. Great chance to occupy 1 or more units & lease the rest! Asking price of $1.83M available in Bowmanville Clarington!

28 ACRES FUTURE DEVELOPMENT LAND — NEWCASTLE

Great location between HWY 115/35, HWY 401 AND HWY #2. Labeled Employment Lands under Durham OP Update. Vendor Take Back Mortgage available! Excellent opportunity for land bankers, developers, and builders of all stripes to acquire a choice piece of land early!

WOW - RARE 1.3 ACRE SERVICED RESIDENTIAL INFILL SITE IN CLARINGTON!

Services are at the lot line and an existing bungalow remains on site! Very hard to come-by in fill site for a number of detached lots, semis, or potential for townhouses: ideal for small builder or developer! Clarington is a fast-growing community with regular seasonal events walking distance away!

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AUTOMOTIVE BLD FOR SALE! - $1,600,000

4800 SQFT Freestanding building on fully paved lot. Clear span w/ 12’ door & high-traffic highway visibility! In excellent condition and has heated floor! Confidentiality agreement required. Call John for more details!

OSHAWA - WHITBY INDUSTRIAL & OFFICE FOR LEASE!

Oshawa - 2140 SQFT - Two units with truck level access & 14ft height. Option for 1 unit or both for 4280 SQFT! $13.50 psf net asking price Whitby - 3450 SQFT - One unit with rive in door. In great shape, Ideal for showroom, recreation, warehousing, or sales outlet. $14.25 psf net asking price Clarington - 5900 SQFT - Clean open affordable space. Ideal for storage, showroom, packaging, recreation, and more. Only $11.00 psf net asking price! + Oshawa Office space @ a great price! Only $8.75 psf net! Clean accessible location with parking.

December 30, 2023–February 10, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

23

Vacant possession

BY JACQUELINE MONETA JD WITH ASSISTANCE FROM JAYSON SCHWARZ LLM

If you’ve ever bought, sold or rented a property, you’re probably familiar with the term vacant possession. Giving vacant possession refers to a legal obligation to ensure that a property is in a state fit to be occupied at a given point in time.

WHEN DOES VACANT POSSESSION HAVE TO BE GIVEN?

It’s common to see vacant possession as an express term in Agreements of Purchase and Sale or a lease. But vacant possession usually has to be given in the following circumstances: • When property is sold • When a lease is granted • When a tenant vacates at the end of the term However, the Ontario Superior Court has held that when no specific time of day for vacant possession has been stated, a seller can deliver vacant possession at any time before the end of that day. Therefore, it’s important to be specific if you want to ensure that the property is vacant before midnight on the agreed day.

WHAT DOES VACANT POSSESSION MEAN?

It seems natural to think that a property will be delivered with vacant possession if all of the occupants have left, but chattels, or movable objects, must also be emptied. However, depending on the circumstances, vacant possession may still be given even if these requirements are not wholly met.

The test the courts apply is whether the chattels left behind substantially interfere with or 24

prevent the enjoyment of the right of possession for a substantial part of the property. The court is clear that not any impediment will do. It must be one that substantially prevents or interferes with the enjoyment of the right of possession of a major part of the property.

Given the subjective nature of this test, it’s important to keep in mind that each case will turn on its own set of unique facts. In one Ontario Superior Court case, the court held that a Quonset hut, which remained on the land after the closing date, did not impede the delivery of vacant possession. In that case, the plaintiff was willing to accept the property with the hut remaining. However, the court conceded that even if the hut should have been removed, the purchaser would only be entitled to the cost of removing the hut as an abatement of the purchase price and nothing more.

In a subsequent case, however, the court found that failing to remove equipment was a failure to provide vacant possession as required in the lease. The effect of this failure was to prevent the tenant from being able to carry on their business. In that case, the tenant was entitled to damages.

WHAT HAPPENS IF VACANT POSSESSION IS NOT GIVEN? Where vacant possession is being given on the sale of property, a

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

buyer has several options. A buyer can apply for specific performance, where the courts will enforce the contract, in addition to damages for any losses suffered. The contract may also be rescinded. But if the parties are willing to negotiate, they may be able to agree on an abatement of rent/the purchase price or a different closing date. Courts act more favourably toward sellers who have made attempts to deliver vacant possession, rather than those who make no effort to honour the terms of the contract.

WHAT DOES IT MEAN TO ME?

Vacant possession is extremely important. Let’s look at some examples. You are closing your new resale home and the vendor has left a broken-down truck in the garage and lots of old furniture in house. The tenant of the vendor is still living in the basement. This is an example of a situation where you could apply to the courts to enforce your rights to specific performance.

Every situation is unique and requires a holistic overview of what is involved and then the application of both common sense and the law.

This is the time your lawyer becomes very important. CI Email us at info@schwarzlaw.ca and give us your questions, concerns, critiques and quandaries.

Jayson Schwarz LL.M. is a Toronto business lawyer and partner in the firm Schwarz Law LLP.

December 30, 2023–February 10, 2024

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SkyViews

k y Vfor iew s Your S Price ‘Upside’ Your Value Priceinfor Finding the‘Upside’ Grey Areas Finding the GreyRealty Areas

By CliffValue Ford,inSkyview

By Cliff Ford, Skyview Realty

With the ever-increasing demand for multi-unit With the ever-increasing demand for multi-unit residential properties amongst investors, a trend residential properties amongst investors, a trend has been overover the the lastlast number has emerging been emerging numberofofyears. years.

Many properties, and and certainly buildings Many properties, certainly buildingswith with 30+ 30+ units, are seeing multiple offers partofofan anopen open units, are seeing multiple offers as as part bid submission process. bid submission process.

If you aren’t familiar the bid submissionprocess, process, If you aren’t familiar with with the bid submission it is the act of marketing a property for sale without it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide providing a price.

Typically, theinSeller willof provide all due diligence documents advance the offer all due deadline diligence documents in determine advance what of the offer to allow buyers to they are deadline to allow buyers determine willing to offer on any to given property. what Sellersthey love are this process as any it can generally lead Sellers to multiple willing to offer on given property. loveoffers this a bidding war that up their end processand ascan it create can generally lead todrives multiple offers price. Buyers dislike this process, however, because and can create a bidding war that drives up their end they prefer to have some guidance on pricing going price. Buyers dislike this process, however, because into the offer stage. As a brokerage, we are caught in they prefer to have some guidance on pricing going the middle of wanting to deliver great results for our into theSeller offer and stage.

As a brokerage, we are caught in satisfying our buyer clients’ demands for moreof investment the middle wanting properties. to deliver great results for our Seller and satisfying our clients’ demands What we have beenbuyer noticing with these open for bid more investment properties isproperties. that ‘upside’ becomes a very common discussion point. The value a buyer places on the

What we have been noticing with these open bid upside in a building can often become the factor that properties is that ‘upside’ a the very common makes their offer standbecomes out among rest, at least discussion point.

The value a buyer places on the as it relates to purchase price. upside When in a building canwhat oftenthe become the that considering upside is onfactor a property, makes its their offer stand out among the rest, at least more than just rental rate upside, especially conas it relates to the purchase price. rates seen in the Ontario sidering lower vacancy market nowadays. Beyond the upside of what you

When considering what the upside is on a property, could rent turned-over units for, investors are looking its more than just rental rate upside, especially conat upside in the utility consumptions by implementsideringingthe lower vacancy seen the bulbs, Ontario programs to replacerates lighting withinLED inmarketstalling nowadays.

Beyond theevery upside what you Low-flow toilets in unit, of and investing in higher efficiency heating equipment.are Upside can could rent turned-over units for, investors looking alsoinbethe found in converting excess by space in a buildat upside utility consumptions implementing to either additional units, commercial space,inor ing programs to replace lighting with LED bulbs, amenities that could draw in greater tenant rents. stalling Low-flow toilets in every unit, and investing Sometimes even the location of the property itself in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents.

Sometimes even the location of the property itself

can have a form of upside for a particular buyer, in

can have a form of upside for a particular buyer, in that they may own a building nearby and could crethat they may own a building nearby and could createvalued valuedupside upside in the sharing of mutual expenses ate in the sharing of mutual expenses betweeneach each property. between property.

Whatever upside factors may may be onbe anyonparticWhateverthe the upside factors any particular property, when going into a purchase process, ular property, when going into a purchase process, understanding what YOUR valuevalue is on is theonupside understanding what YOUR the upside will give you a leg up when bidding against other will give you a leg up when bidding against other buyers. It appears that, at least for the time being, buyers.

It appears that, at least fordetermined the time being, the sale price of the property is no longer the by sale pricecomparable of the property longer just market sales.isIt no is now the determined grey just by market comparable sales.

It is now the grey areas of upside that are driving the prices higher. Of course seller had their way, the would areas ifofevery upside that are driving theBuyer prices higher. Of be paying for 100% of the upside theirthe purchase course if every seller had their inway, Buyer would price but realistic sellers also know that they need to be paying for 100% of the upside in their purchase leave something on the table for a buyer. As a buyer, price but realistic sellers also know that they need to you need to know what the upside is and how much leave onforthe table for Itaisbuyer.

As a buyer, you aresomething willing to pay that upside. a business you need to know what the upside is and how much decision that only you can determine based on your operations. you are willing to pay for that upside. It is a business

decision that only you can based on your To be fair when discussing bid determine submission processoperations. es, it should be stated that price may not always be the only factor when a seller chooses one offer to To be fair when discussing bid submission processwork with over another, but it is likely the most siges, it should that price always be nificant factor. be As stated an example, buyersmay are not becomthe more only and factor when a seller chooses one offer to ing more organized in their purchasing work with inover another, but it is likely the most sigprocesses order to streamline their conditional periods closing as this can also help nificantand factor.

As dates, an example, buyers aretobecomachieve a sign back from a Seller when multiple ofing more and more organized in their purchasing fers are on the table. Especially if all offering prices processes in order to streamline their conditional are neck and neck, the terms of the offer becomes periods and closing dates, as this can also help to an important factor for a seller.

achieve a sign back from a Seller when multiple of-

You may not be a fan of the open bid submission fers are on the table. Especially if all offering prices process, but it appears as if this new trend will be are neck and neck, the terms the diligence offer becomes sticking around.

By doing properofdue an important factor for a seller. upfront, good research on the property’s market, and theaprice want to pay the You determining may not be fan you of the open bidforsubmission upside, you can still achieve great acquisitions in this process, but it appears as if this new trend will be tight and highly sought after investment class.

sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.

27

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