Toronto’s Yonge and Eglinton area is growing rapidly, with thousands of new condominium units in the pipeline that are helping transform the area into one of the highest-density nodes in the country. With it comes new retail opportunities, and a block south of the intersection of Yonge Street and Eglinton Avenue is The Art Shoppe Lofts + Condos at 2131 Yonge Street, which at its base has an offering of top-quality retail space for lease.
Located at street-level, The Art Shoppe’s 25,890 square feet of available retail space boasts over 200 feet of frontage along Yonge Street, a complete city block. The space is divisible into numerous options, including restaurant and junior anchors up to 2,800 square feet, with frontages between 27 and 93 feet and ceiling heights soaring to over 20 feet. There are some exceptional patio opportunities along a widened Yonge Street sidewalk, including a highly visible corner at Yonge Street and Hillsdale Ave. East, as well. New BIA streetscape along Yonge Street from Davisville Avenue to the Art Shoppe is to be installed in 2020.
Foot traffic in the immediate area will be substantial when the project is completed — on the second level of the Art Shoppe retail podium, a 52,000 square foot grocery retailer will be accessed from a ground-level lobby adjacent to the available retail space that also includes direct elevator access to one and a half levels of commercial parking below grade. As well, located above it all will be 624 residential condominium units in the Art Shoppe Lofts + Condos, with its two lobbies designed by the world’s best-known fashion designer, Karl Lagerfeld.
The Yonge and Eglinton area consists of many young, well established, urban professionals with exceptionally high incomes, as well as a remarkable number of corporate headquarters in several nearby office towers. The area includes amenities such as nightclubs and pubs, as well as extensive retail offerings that will increase as development continues in the area. Notable, as well, is the fact that the Yonge and Eglinton intersection is the second-busiest pedestrian intersection in the city, with about 68,000 commuters entering and exiting the Eglinton Subway station daily, and over 75,000 vehicles passing by the intersection daily.
The area will become even busier with the completion of a new transit station for the Eglinton Crosstown LRT line — the multi-billion dollar project is forecasted to be completed in 2021, and it will make the area even busier while adding enhanced connectivity, conveniently a block north of The Art Shoppe.
The ground level retail space at the base of The Art Shoppe is currently for lease, and can be demised and customized to suit various tenants. The 20-foot ceiling heights offer flexibility of uses, making this project highly desirable for a variety of retail uses. For more information on this retail space, contact Arlin Markowitz, Senior Vice President at CBRE, at: arlin.markowitz@cbre.com or by phone: 416-815-2374.
*Retail Insider occasionally profiles commercial real estate listings. For more information, contact: craig@retail-insider.com.
