SALE OF SPORTWORLD CROSSING OFFERS NEW DEVELOPMENT OPPORTUNITIES FOR KITCHENER
Kitchener, Ontario – March 10, 2017 - Cushman & Wakefield Waterloo Region Ltd. Brokerage is pleased to announce the sale of Sportsworld Crossing, part of a three parcel sale. Sportsworld Crossing is a vibrant mixed-use Class A office and retail asset, which comprises approximately 433,000 square feet of gross leasable area with highway 401 and highway 8 access in Kitchener, Ontario.
The site currently offers numerous thriving retailers, restaurants and office users including, Nike, Pro Hockey Life, Reebok, Borealis Grille & Bar, Moose Winooski's, Corus Entertainment, London Life Insurance, Canon Canada, and the Waterloo Wellington Local Health Integration Network.
David Anderson, Senior Vice President and a Broker at Cushman & Wakefield said: “Sportsworld offers a major development opportunity with future office expansion, as the site is situated in one of the region’s best office nodes with less than 1% vacancy”. Anderson added, “We are sitting in one of Canada’s most economically stable markets and best kept investment secrets with higher investment yields than Canada’s largest markets like Toronto and Vancouver with significant lease and development upside.”
David Anderson, Scott Anderson, Jordan Palmer, and Benjamin Bach of Cushman & Wakefield Waterloo Region facilitated the transaction. Cushman & Wakefield Waterloo Region will be retained as the exclusive leasing agent to manage the ongoing leasing of the office and retail opportunities to determine the tenants to add to the current vibrant mix of businesses. “We are currently working with the new ownership group to determine the highest and best use for the site and community for future development.”
For inquiries regarding office and retail space please call 519 585 2200, or visit cushwakewr.com for more information.
About Cushman & Wakefield Waterloo Region Ltd., Brokerage
As a market leader, Cushman & Wakefield Waterloo Region offers a full range of commercial real estate brokerage services to property owners, tenants and buyers serving Waterloo, Kitchener, Cambridge, Guelph and on a regional, national and international level. The depth of knowledge and experience of our commercial brokerage team enables us to complete a single transaction as easily as a multiple-building acquisition.
Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushwakewr.com, or follow us @CushWakewr on Twitter.