Subject Property

This 57.5-acre site is located in the City of Vaughan at the northeast corner of Langstaff Road and Huntington Road. The site is located in close proximity to the future Highway 427 extension and has an estimated 42.2 developable acres. Designated as General Employment and Prestige Employment, the site allows for a range of future employment and industrial uses in this primarily industrial area.

Our Role

Our team was engaged by the Mount Pleasant Group of Cemeteries, on an exclusive basis, to manage the disposition process for this surplus property. The property was offered to the market without an asking price. A submission date was set 30 days after the marketing launch. Our full suite of marketing materials was used to fully expose the property including direct hard copy mailings, electronic marketing blasts, extensive on-site signage and media advertising. Additionally, in-person meetings and a targeted phone campaign ensured the most logical purchasers were fully aware of the offering.

Outcome

We received several strong offers in the first round and shortlisted two groups who were well ahead of the other interested parties. After second round resubmissions we received a firm offer. The property was sold to Anatolia Acquisition Corporation for $25 Million.