In late 2025, Shoppers Drug Mart will unveil a new 17,000-square-foot store on the concourse level of 700 University Avenue in Toronto. The location, nestled in the heart of Toronto’s Discovery District, reflects a strategic expansion designed to cater to the needs of both tenants and visitors in one of Canada’s most prestigious medical and research hubs.
The area is home to major institutions such as Princess Margaret Hospital, Toronto General Hospital, Mount Sinai, The Hospital for Sick Children, Women’s College Hospital and the Toronto Rehabilitation Institute, creating a natural synergy for Shoppers Drug Mart’s service-oriented offerings. The University of Toronto and Queen’s Park are also close by.
Direct Access and Connectivity Enhance Customer Convenience
The new Shoppers Drug Mart store will offer direct street-level access from University Avenue, providing easy entry for pedestrians and commuters. Additionally, the store will connect to Toronto’s PATH network and the Queen’s Park TTC subway station, located on the Yonge-University-Spadina line. This connectivity will make it a convenient stop for both professionals working within the 1.2 million square foot Class ‘A’ office tower and transit riders passing through.
Given the structural constraints of the 700 University Avenue building, creative and thoughtful store planning was essential to bring Shoppers Drug Mart’s vision to life. This development required close collaboration between Shoppers Drug Mart and the building’s management team. Allan Caiado, representing Shoppers Drug Mart, negotiated the lease alongside Bryon Breau of Triovest, the property manager, with Jaimy Hunt of KingSett Capital handling the transaction on behalf of the building’s owner.
About 700 University Avenue: A Class ‘A’ Office Tower
700 University Avenue is more than just an office tower—it is a vital center of innovation and healthcare services in Toronto. The 20-storey building boasts over 1.17 million square feet of office space and 51,500 square feet of retail amenities. Recognized for its sustainability and technological integration, the building holds BOMA BEST® Gold, WiredScore Platinum, and Fitwel® certifications. Located at the intersection of University Avenue and College Street, it offers direct access to public transit and major vehicular routes, making it highly accessible for both tenants and visitors.
In addition to Shoppers Drug Mart’s upcoming store, 700 University Avenue features a range of on-site amenities, including a food court, restaurants, banking facilities, daycare services, and more. The addition of Shoppers Drug Mart will further enhance the building’s offerings, delivering essential health, wellness, and convenience products to a diverse audience in the heart of Toronto.
Additional Retail Leasing Opportunities Available
With the introduction of Shoppers Drug Mart, 700 University Avenue is actively exploring additional retail leasing opportunities. The management is targeting quick-service restaurants, fitness centres, service-oriented businesses, and medical-related uses to further complement the existing tenant mix and meet the needs of those who work, visit, and commute through this key Toronto intersection.
