Historic Jarvis House property up for sale
Avison Young awarded exclusive listing for retail/office property in Toronto's Rosedale area
TORONTO, Oct. 19, 2018 /CNW/ - Avison Young, the world's fastest-growing commercial real estate services firm, announced today that it has received the exclusive sale listing for the historic Jarvis House property in Toronto.
Located at 1067 Yonge Street, the Jarvis House has remained in the hands of the same owner for half a century. The 12,500-square-foot commercial retail/office property will be up for sale on Tuesday, October 23.
Gregory Lever, a Senior Associate in Avison Young's Toronto office, and David Horowitz, a Vice-President in the Toronto office, were selected by the seller to co-ordinate the historical property transaction.
"We are proud to have earned the trust and confidence of the seller and to facilitate a property transaction with such historical significance," comments Lever. Our client chose a strong real estate partner that can deliver value while bringing local expertise and knowledge to the transaction process."
The 1067 Yonge Street site is a rare example of Georgian Revival architecture, which was a preferred style deployed throughout the 19th century due to Toronto's connections with Great Britain. Designated as a Category B heritage property as part of the South Rosedale Heritage Conservation District for its overall quality, prominent location and citywide significance, the Jarvis House has accommodated a variety of commercial enterprises including well-recognized investment firm Tricon Capital Group Inc. and the Goethe-Institut, a Federal Republic of Germany's cultural institute.
The Jarvis House was built in 1914 for Jennie Brooke Jarvis, a descendant of Daniel Brooke, a prominent merchant who played a leading role in Toronto's early history. The property is also a popular destination for Rosedale historical walking tours.
The property is located on the prime commercial street in Rosedale, a prosperous residential neighbourhood, and steps away from the Summerhill and Rosedale subway stations. The area boasts some of the city's most valuable residential real estate and is home to many of Toronto's most prominent and affluent citizens.
"The commercial property market continues to deal with supply shortages, and there is an unquenchable demand for quality office space in Toronto," says Horowitz. "Canadian commercial real estate remains attractive to international investors who consider Canada a haven with a stable political climate, open borders and undervalued dollar, while also appealing to local investors. We believe this listing provides an unprecedented opportunity suited for owner-occupier use, possible development or a foreign end-user."
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 84 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
Avison Young is a 2018 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for seven consecutive years.
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Editors/Reporters
- Please click here to view and download photo of Jarvis House
SOURCE Avison Young Commercial Real Estate (BC)
For further information/comment/photos: Martin Dockrill, Principal and Managing Director, Ontario, Avison Young: 905.283.2333; Gregory Lever, Senior Associate, Sales Representative, Toronto, Avison Young: 416.910.4548; David Horowitz, Vice-President, Sales Representative, Toronto, Avison Young: 416-673-4055
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