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8200 Warden Ave.

Key Information

Client

8200 Warden Ave.


Location

Markham, ON

Topline

5.8 acres of high-density residential development land located in Markham City Centre.

Date

December 2016

Type

Residential

Size

5.80 AC

Sold for

$15,000,000

Subject Property


The Land Services Group was awarded the mandate to manage the disposition of 5.80 acres of high density residential development land on behalf of a large publicly traded company. This site lies within Markham City Centre and is surrounded by existing and currently under construction high-density residential and mixed-use developments.

Our Role


There were significant challenges hindering development on this site including an onerous cost sharing agreement applicable to the area. Most notably, there were unknown challenges that could be uncovered during site plan application with regards to the existing flyover from Warden Avenue, the access to the site from Warden Avenue, as well as the potential requirement to rebuild and expand the privately held road to the south. On top of these issues, the vendor had an internal requirement to close this transaction by calendar end of 2016 even though the property had yet to be severed from the adjacent lands.

Outcome


The Land Services Group generated multiple offers from top developers within the GTA while navigating the challenges with development and timing constraints, and were able to close the transaction for $15 Million in December 2016 with Lifetime Developments.

 

8200 Warden Ave

Contact

Mike Czestochowski
Mike Czestochowski*
Executive Vice President, Land Services Group
Advisory & Transaction
*Broker
+1 416 495 6257
Lauren White
Lauren White*
Senior Vice President, Land Services Group
Advisory & Transaction
*Sales Representative
+1 416 495 6223