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Office · Toronto, Canada

King East Boutique Office

King Street East

The opportunity

King East Boutique Office trades at a basis 38% below replacement cost because the market has stopped underwriting office as a category. The remaining credit is real — 4.6 years of term on the top three tenants — and no new competing supply is under construction. The Toronto case: CMHC-financed trades and a rental market with no new supply below $3.50/sf.

  • Basis 38% below replacement cost
  • 4.6 years WALT on the top three tenants
  • 9,200 sq ft contiguous vacancy, fully demised