After listing two major assets last year, Toronto-based developer Humbold Properties has listed an additional eight properties for sale, according to a CBRE marketing brochure obtained by RENX.

On its website, Humbold Properties states that it is a family-owned development company with over 50 years of experience, two offices in the Greater Toronto Area, and a portfolio across a diverse assortment of asset classes.

With the new listing, however, most of the company’s portfolio is now on the market. The eight-property portfolio was listed by CBRE Toronto’s National Investment Team on an unpriced basis and comprises 647,544 sq. ft. of space — industrial, retail, and office — that can be purchased together or separately.

“The Humbold GTA Commercial Portfolio spans 8 properties in core GTA submarkets that offer a blend of cash flow security and value upside,” CBRE states in its sales brochure. “Overall, the Offering is 92% leased to 93 tenants across a wide variety of uses and industries, underscoring the defensive and diverse nature of the portfolio income.

"Simultaneously, investors have access to value-add strategies including marking expiring rents to market, vacant lease up, conversion to condominium units, and infill development.”

RENX reached out to Humbold this week to inquire about the listings, but has not received a response.

Industrial

Humbold’s website lists four industrial properties and all are now on the market.

The largest property is 5781-5789 Steeles Ave. W. in Toronto, a 5.2-acre site with 129,542 sq. ft. of net leasable area that’s currently fully occupied to three tenants, according to CBRE’s sales brochure. It also notes the property has long-term infill redevelopment potential.

Also listed are two industrial properties in Markham.

The first is 80-85 Citizen Ct., a 7.4-acre industrial business park with 106,753 sq. ft. of space that’s currently 98 per cent occupied by 23 tenants. The second is 4118 14th Ave., a 4.7-acre property with 68,489 sq. ft. of space leased to two tenants. Although the property is treated as a separate property, it is located directly adjacent to 80-85 Citizen Ct.

Listed separately last year by Avison Young is 455 Gordon Baker Rd. in Toronto, a 3.50-acre industrial property with 87,273 sq. ft. of space that was previously occupied by IKEA. The current asking price is $29,388,000.

Retail

On the retail side, the largest listed property is 3700-3900 Rutherford Rd. and 9311-9333 Weston Rd. in Vaughan, a 6.6-acre retail plaza known as Vellore Corners that’s home to 64,534 sq. ft. of space currently 100 per cent leased to nine tenants, including Loblaws and Scotiabank. CBRE notes the property was constructed in 2004 and is a grocery-anchored shopping centre free and clear of existing financing.

The other big property is the Dixie Aimco Plaza at 1510-1530 Aimco Blvd. in Mississauga. The plaza is home to 37,754 sq. ft. of space that’s fully leased to three tenants, including Staples. This site is also free and clear of financing and CBRE notes it has future intensification potential.

Also listed is 125-127 Spadina Ave. in Toronto, a small retail property between Richmond Street West and Adelaide Street West constructed in 1900 with 5,084 sq. ft. of space. 125 Spadina is occupied by the Spadina Animal Hospital, while 127 Spadina is vacant.

Humbold’s website also lists 534-536 Eglinton Ave. W., a small retail property in Toronto that does not appear to have been listed.

Mixed-use and development

The largest asset that has been listed, across all asset classes, is 1118-1126 Finch Ave. W., a 9.8-acre mixed-use complex comprised of an office building — home to one of Humbold’s offices — and multiple standalone industrial buildings with office and retail space. According to CBRE, the complex was constructed in the late 1980s, has a total of 235,388 sq. ft. of space that is currently 79 per cent leased to 52 tenants with a weighted average lease term of 3.3 years.

The last of the eight properties listed by CBRE is 217 Adelaide St. W., a rectangular surface parking lot one block north from David Pecaut Square. For this site, Humbold has received Ontario Land Tribunal (OLT) approval to develop a 22-storey office building with 198,954 sq. ft of space.

Last year, JLL had also listed 7040 Yonge St. and 72 Steeles Ave. W. in Vaughan, a 4.88-acre property currently occupied by several retail buildings. For this site, Humbold had also secured interim OLT approval for a multi-phased, mixed-use development with four towers between 38 and 60 storeys and 1,966,276 sq. ft of buildable area. JLL noted the vendor was open to both a partial or full ownership interest sale.

The most prominent project Humbold was planning, however, was a 79-storey mixed-use tower at 212, 214, and 220 King St. W. in Toronto which it was co-developing with Dream Office REIT.

According to Dream's annual report published last month, the REIT currently holds a 100 per cent ownership interest in 212 King St. W. and a 50 per cent ownership interest in 220 King St. W. 214 King St. W. is home to Humbold’s other office and this property does not appear to have been listed.