Description
Net Rent on 88% of the building currently occupied averages about $827,000/year over current lease term(s). Buyer also receives a material value-add opportunity related to the 12,000 SF currently vacant. Largest Tenant (66,000 SF) is Constellation Software, which has just under seven years left on their Lease term and is a publicly traded company. Other Tenants are the Gazette (17,240 SF) and a 5,000 SF Seller leaseback premises. Seller leaseback premises is adjacent to the vacant premises and that Lease will contain a Landlord termination option designed to increase flexibility related to marketing the vacant premises. Over a 9.5% cap rate on current rents, plus significant value-add potential upside related to the vacant space.
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0BEDS
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5ACRES
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0BATHS
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01/2 BATHS
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100,240SQFT
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$87$/SQFT
School Ratings & Info
Description
Net Rent on 88% of the building currently occupied averages about $827,000/year over current lease term(s). Buyer also receives a material value-add opportunity related to the 12,000 SF currently vacant. Largest Tenant (66,000 SF) is Constellation Software, which has just under seven years left on their Lease term and is a publicly traded company. Other Tenants are the Gazette (17,240 SF) and a 5,000 SF Seller leaseback premises. Seller leaseback premises is adjacent to the vacant premises and that Lease will contain a Landlord termination option designed to increase flexibility related to marketing the vacant premises. Over a 9.5% cap rate on current rents, plus significant value-add potential upside related to the vacant space.