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4288 Kingston Road
Jones Lang LaSalle Real Estate Services, Inc. (“JLL” or the “Advisor”) is pleased to offer for sale a 100% freehold interest in 4288 Kingston Road (the “Property” or “Site”), a multi-tenant, neighbourhood retail plaza with future mid-rise development potential situated on 0.7-acres of land in Scarborough, Ontario. The Property is within walking distance from Guildwood GO Station, which is positioned only 900 metres southwest along Kingston Road.
Comprised of 11,845 square feet (“SF”) of retail space, the plaza is demised into ten (10) right-sized units that are currently 89% occupied with a weighted average lease term (“WALT”) of 3.1 years. Existing ownership has submitted a zoning by-law amendment application to permit a 9-storey mixed-use development totaling approximately 110,000 sf of gross floor area (“GFA”) which remains under review by the City of Scarborough.
Prospective purchasers are offered existing income with significant rental upside from asset repositioning and improvement of the tenant profile, while also having the opportunity to create value via rezoning, entitlement, and future development.