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Keele St. and Highway 407

Key Information

Client

Keele St. and Highway 407


Location

Vaughan, ON

Topline

Designated as Employment Area, this nine-acre site featured exceptional regional accessibility due to its proximity to Highway 407.

Date

January 2016

Type

Employment

Size

9.00 AC

Sold for

$7,400,000

Subject Property


This 9.0-acre site is located at the southeast corner of Keele Street and Highway 407 in the City of Vaughan. The site is designated as an Employment Area in the Vaughan Official Plan. The site has excellent local and regional accessibility as a result of its easy and nearby access to Highway 407 East and West, making it an ideal site for a range of employment uses.

Our Role


Infrastructure Ontario (IO) engaged our team to manage the sale process of this surplus governmentowned property. A comprehensive marketing package was completed by our team highlighting all characteristics that are essential in establishing short and long-term upside for the site and the surrounding area. The site was posted to MLS with a fee offered to cooperating brokers to ensure full market coverage. During the marketing process, we encountered a range of issues including fill being stored on the property in addition to a large setback that was required due to a proposed transit way.

Outcome


We were able to quantify these issues and work through IO’s required internal procedures to have the sale approved. The transaction was successfully closed in January 2016 with Minuk Developments purchasing the property for $7.4 Million.

 

Keele St and Hwy 407

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