BAZIS has acquired a midtown Toronto strip mall property from an unnamed private vendor in a $37-million off-market deal.
“In my opinion, the vendor probably realized that, with all the development happening in the neighbourhood, this particular asset had outlived its true potential as an investment and the highest value would be achieved through it being sold based on the redevelopment potential,” Lennard Commercial Realty, Brokerage vice-president Vincent King, who brokered the transaction, told RENX in an email interview.
Click here to continue reading.