Europro, Arista, Fieldgate Commercial Properties and Paradise Commercial have acquired Toronto’s Yonge Corporate Centre from Cadillac Fairview for an undisclosed price.

The complex at 4100-4150 Yonge St. includes three six-storey, class-A office buildings and a retail concourse built between 1985 and 1989 that combine to total 649,808 square feet. A 7,992-square foot heritage building housing the Auberge du Pommier restaurant is also on the site.

Europro vice-president of asset management and investments Jesse Nathanson told RENX individuals from the new ownership group had known each other over the years and thought teaming up to acquire Yonge Corporate Centre would be mutually beneficial. He wouldn’t disclose the ownership stakes but said:

“It's going to be managed and operated by Europro. The other partners are active, but more silent, more from an advisory standpoint than anything else. They’ll be involved in macro-level strategy but, for the most part, want to stay behind the scenes and help where they can if needed.”

What Yonge Corporate Centre offers

Yonge Corporate Centre is on a 7.79-acre site adjacent to the Don Valley Golf Course and just south of Highway 401. It has a direct underground connection to the Toronto Transit Commission's York Mills subway station and the York Mills GO Transit bus terminal.

The property offers: more than 1,200 surface and underground parking stalls; electric vehicle charging stations; a fitness centre with lockers and showers; landscaped green space, including a natural walking trail along its adjacent ravine; multiple food offerings; and bicycle storage.

Cadillac Fairview invested over $10 million toward improvements in the LEED Gold-certified Yonge Corporate Centre since 2020.

“It's a good property with long-term stable income from good tenants,” including OLG, Dayforce (formerly Ceridian) and Wawanesa Insurance, Nathanson said.

TD Cornerstone Commercial Realty and CBRE started marketing the centre last February, two years after it was initially put up for sale but then withdrawn. 

“We had looked at it even dating back to the first time that it was on the market,” Nathanson said. “We obviously think very highly of the property and I argue that there's no other property like it in the city of Toronto or even Ontario, with the views and a serene setting with calm nature and all these types of things, but with a first-class office experience.”

No plans for residential redevelopment

A preliminary planning study by Bousfields Inc. identified the opportunity to add almost 800 residential units in a three-tower development along the Yonge Street frontage. Future redevelopment beyond that could have ended up totalling 1.8 million square feet in aggregate.

“This was marketed as a residential play, and we don't see it that way,” Nathanson explained. “We'll be investing more into modernizing it.”

These improvements will likely include the addition of a conference facility, communal boardrooms, a tenant lounge and other new touches — as well as providing enhanced programming, services and an elevated operational performance — to make the tenant experience more enjoyable.

The Yonge Corporate Centre web page lists 14 available spaces totalling 90,132 square feet. Colliers is assisting the building owners in seeking tenants for those spots.

Nathanson said Yonge Corporate Centre historically had a waiting list of potential new tenants seeking space, until the COVID-19 pandemic plunged the office market into a major slump. He believes his ownership group can add value and get its occupancy rate back to a much higher level.

Europro’s strong North Yonge presence

Europro now owns and manages three flagship assets along Yonge Street: 5001 Yonge; Madison Centre at 4950 Yonge; and Yonge Corporate Centre. That brings its total ownership footprint in the corridor to more than 1.5 million square feet and makes it the largest and most dominant landlord in the node.

The acquisition reflects Europro’s strong conviction in the long-term vitality of the North Yonge market and the recovering office sector. As leading organizations re-establish in-office routines and prioritize environments that promote collaboration, culture and employee well-being, well-located, high-quality office assets like Yonge Corporate Centre are experiencing renewed demand. 

Nathanson said 2025 was Europro’s best year ever due to a resurgence in office leasing, as companies cut back on the amount of time they allowed employees to work from home.

Europro is hands-on with its portfolio

Toronto-headquartered Europro is a commercial property investment, management and leasing company established in 2003.

“We try to take as much in-house as possible because it's all about accountability,” Nathanson said. “We are the ones who are responsible if you choose to come to one of our buildings.

“We’re the ones that you can turn to and rely on. In my opinion, that creates the most positive possible tenant experience.” 

Europro’s portfolio now exceeds 5.3 million square feet and includes properties in 10 Ontario cities valued at just under $1 billion.

“We have a track record, we know what we're doing and we're trying to implement that everywhere and see how we can expand the portfolio with a proven platform,” Nathanson said. “We're going to see significant returns and activity as we move forward and continue to expand.”