mississauga & brampton, ontario...15 strathearn avenue, brampton tenant name abf freight system...
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CROSSDOCK TRUCK TERMINAL INVESTMENT OFFERING
CBRE and Morprop Advisors (collectively the “Advisor”) hasbeen retained as Exclusive Advisor to seek proposals for thepurchase of three crossdock/truck terminals totaling107,682 sq. ft. and located at 1100 Haultain Court and6445 & 6495 Van Deemter Court, Mississauga, and 15Strathearn Avenue, Brampton (the “Portfolio” or the“Properties”).
The three building Portfolio is located in central Mississaugaand Brampton, bounded by Steeles Avenue East, AirportRoad, Eglinton Avenue East, and Tomken Road, which hasfull access to Highway 401 and is only minutes fromPearson International Airport. The buildings are beingoffered for sale on a portfolio basis.
Prospective purchasers are required to execute a confidentiality agreement in order to access the full offering memorandum.
MISSISSAUGA & BRAMPTON, ONTARIO
RECOVERY OF U.S. ECONOMY AND EXPANSION OF E-COMMERCEThe Less-Than-Truckload (LTL) sector is expected to strengthen as the U.S.economy continues to recover and shows signs of growth. In addition, e-commercecontinues to become more prevalent. In 2010, Canadians placed nearly 114million orders via the internet valued at $15.3 billion. This is expected to continueto grow as more Canadians adopt the practice of omni-channel retailing. Growthin the LTL trucking sector drives demand for crossdock truck terminals.
DIFFICULT TO REPLICATEThe Portfolio offers a rare opportunity to acquire three high quality crossdock truckterminals in the heart of the strongest industrial transportation submarket in NorthAmerica, the intersection of Dixie Road & Highway 401 in Mississauga, Ontario(“Dixie/401”). With a lack of available development land, the in-place zoningand rising development changes and construction costs, these assets would be verydifficult to replicate.
GTA WEST MARKETThe Portfolio is strategically located in the GTA West market which, 2014 YTD was2.4% vacant. The GTA West market had 2014 YTD absorption of 1.91 million sq.ft., making it one of the best markets across the country. In addition, the Portfoliohas access to 135 million people within a 500 mile radius. Through the NorthAmerican Fair Trade Agreement (NAFTA), Canada is assured long term access tothe U.S. and Mexico, which will ensure a vibrant trucking sector.
100% OCCUPIED WITH LONG TERM LEASESThe Portfolio is currently 100% occupied by a roster of national andlocal tenants. The three Properties have a staggered rollover profilebetween 2019-2021. No individual lease within the Portfolioexpires in the same year. The Portfolio has a weighted averagelease term remaining of 6.25 years from January 2015.
CLUSTER OF WELL LOCATED, FUNCTIONAL CROSSDOCK TERMINALSThe Portfolio is centrally located in the GTA West submarkets ofMississauga and Brampton. The Properties are located less than 5km from each other creating synergies for management.
STRONG OCCUPANCY HISTORY, GROWING RENTS The Portfolio has enjoyed strong occupancy and rent growth throughall cycles. The Dixie/401 location remains the location of choice fortrucking companies in Toronto. Most major North America carriersare located in this submarket, which is located in the core of theGTA, a 750 million sq. ft. industrial market.
FREE-AND-CLEAR OF FINANCINGThe Portfolio can be acquired free-and-clear of any existingfinancing allowing a purchaser to take advantage of favourabledebt market conditions.
INVESTMENT HIGHLIGHTS
GTA West Crossdock Portfolio
6445 & 6495 VAN DEEMTER COURT, MISSISSAUGA
Tenant Name GX Transportation Solutions Tenant Expiry 30-Apr-19
Building Size (sq. ft.) 22,192 Land Size (acres) 3.83 [1]
Clear Height 20’ Year Built 1989
Shipping 32 truck level doors Taxes (2014) $72,503
Zoning E3 Employment TMI ($/sq. ft.) $3.37
Annual Rent $318,000 Base Rent ($/door/month)
$883.33
[1] Total land size is comprised of two separate lots
6495 Van Deemter Court is a 32 door, approximately 78’ wide, 22,192 sq. ft. high cube logisticalcrossdock, with an executive office component and full dispatch area on a 1.64 acre lot. 6445 VanDeemter is a 2.19 acre graveled and fenced parking area with a secured entry.
15 STRATHEARN AVENUE, BRAMPTON
Tenant Name ABF Freight System Canada, Ltd. Tenant Expiry 31-Dec-20
Building Size (sq. ft.) 20,990 Land Size (acres) 5.26
Clear Height 20’ Year Built 1987
Shipping 41 truck level doors Taxes (2014) $106,490.37
Zoning M2 Industrial TMI ($/sq. ft.) $5.15
Annual Rent $435,480 Base Rent ($/door/month)
$885.12
15 Strathearn Avenue is a 41 door, approximately 72’ wide, 20,990 sq. ft. standard LTL crossdock, with an office component and an approximately 3,000 sq. ft. single bay repair garage on 5.26 paved and secured acres.
1100 HAULTAIN COURT, MISSISSAUGA
Tenant Name Gardewine Group Limited Partnership Tenant Expiry 31-Dec-21
Building Size (sq. ft.) 64,500 Land Size (acres) 15.56
Clear Height 12-14’ Year Built 1978
Shipping 99 truck level doors Taxes (2014) $229,213.33
Zoning E2-19 Employment TMI ($/sq. ft.) $4.04
Annual Rent$1,080,000
Base Rent ($/door/month)
$909.09
1100 Haultain Court is a 99 door, approximately 58-85’ wide, 64,500 sq. ft. crossdock, comprised ofa recently renovated 11,238 two-story office building and a 34,262 sq. ft. crossdock terminal locatedon 15.56 paved, fenced acres.
INDUSTRIAL INVESTMENT OPPORTUNITYMISSISSAUGA & BRAMPTON, ONTARIO
1100 Haultain Court
6445 & 6495 Van Deemter Court
15 Strathearn Avenue
For more information, please contact any of the sales representatives listed below:
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the“Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient ofthe Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient fromCBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; DMTI Spatial,Environics Analytics, Microsoft Bing, Google Earth
*Sales Representative
Scott MacKenzie*Vice President416.798.6219 [email protected]
Tim E.A. Pacaud* Vice President [email protected]
Jordan Lunan*Senior Sales [email protected]
John T. Suerth*Senior Vice [email protected]
Ted MorandinMorprop [email protected]
CBRE Limited | 87 Skyway Avenue, Suite 100 | Toronto, ON M9W 6R3 | www.cbre.ca
OFFERING DATEThe date for submissions of letters of intent will be communicated by the Advisor seven (7) days prior to the submission date.
OFFERING PROCESSOffers will be evaluated based on a number of subjective factors, including the demonstrated wherewithal of the purchaser and the ability to pay cash or secure third party financing, theconsideration being offered and strength of deposits, conditions, timing of closing and any other matters deemed relevant by CBRE and the Vendor. The Vendor reserves the right, in its solediscretion, to alter the offering process and reject any or all offers received.
INDUSTRIAL INVESTMENT OPPORTUNITYMISSISSAUGA & BRAMPTON, ONTARIO
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