la a · 2020. 10. 28. · with notable retail tenants, including christian louboutin. abutting the...

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LANDMARK DEVELOPMENT OPPORTUNITY IN THE HEART OF BLOOR-YORKVILLE TORONTO • ONTARIO Yorkvie Avenue AVENUE RD AVENUE RD BAY ST BAY ST YORKVILLE AVE YORKVILLE AVE BLOOR ST BLOOR ST YONGE ST YONGE ST Yorkvie Avenue

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  • LANDMARK DEVELOPMENT OPPORTUNITY IN THE HEART OF BLOOR-YORKVILLE

    T O RO N T O • O N TA R I O

    Yorkville AvenueAVEN

    UE RD

    AVENU

    E RD

    BA

    Y STB

    AY ST

    YORKVILLE AVE

    YORKVILLE AVE

    BLOOR STBLOOR ST

    YON

    GE

    STYO

    NG

    E ST

    Yorkville Avenue

  • 2 3

    Table of Contents

    Executive Summary 5

    Investment Highlights 6

    Property Overview 8

    Planning & Land Use Summary 10

    Market Overview 12

    Location Overview 16

    Offering Process 22

  • 5

    CBRE’s Land Services Group and Urban Retail Team are pleased to offer for sale a 100% freehold interest in 101 Yorkville Avenue (the “Site”, “Property” or “Offering”) in the heart of Bloor-Yorkville in Toronto, Ontario. This 0.45-acre Property has a depth ranging from 141-180 ft. and 119 ft. of premium frontage along one of Toronto’s most iconic streets, allowing for an unprecedented development opportunity of significance and scale. The Site is situated within one of Canada’s most prestigious residential neighbourhoods, with unmatched demand and high-rise sales achieving pricing upwards of $2,700 per sq. ft. buildable.

    Home to luxury retailers including Christian Dior, Louis Vuitton, Chanel and Gucci, Bloor-Yorkville has long been recognized as an exclusive destination for shopping, eating and entertainment. Within the coveted Yorkville Avenue node, ground floor retail spaces are achieving net lease rates between $200-$300 per sq. ft., second floor retail space is achieving $60-$70 per sq. ft. and office space is achieving approximately $30-$40 per sq. ft. net. The neighbourhood is also seeing sales for office condominiums reaching upwards of $1,200-$1,500 per sq. ft.

    The Property is an iconic landmark within the Yorkville streetscape, and provides a rare opportunity to acquire a prestigious mixed use redevelopment site, which could include a future office, flagship retail location and luxury condominium units.

    Executive

    5

    YORKVILLE AVE

    YORKVILLE AVE

    CUMBERLAND ST

    CUMBERLAND ST summary

    OLD

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  • Property Highlights

    76

    EXCLUSIVE LOCATION IN THE HEART

    of Bloor YorkvilleThe Offering provides a rare investment and

    future redevelopment opportunity along one of Toronto’s most iconic streets.

    SURROUNDED BY WORLD-CLASS

    amenities and shoppingYorkville is the premier neighbourhood for luxury

    shopping and high-end restaurants, galleries and hotels, with tenants including Chanel, Louis

    Vuitton, Gucci, Versace and Hermes.

    UNMATCHED MARKET DEMAND

    and pricingDemand for living in Yorkville has increased significantly over the past decade, as intensification has increased the

    population of the neighbourhood. Currently, only 257 units in standing inventory, with developers achieving

    upwards of $2,700 per sq. ft.

    FAVOURABLE

    demographicsThe neighbourhood supports a total population of 51,681, which is projected to increase by 15.2% by 2025. Average household income within the

    neighbourhood is estimated to be $161,823, which exceeds the City of Toronto average by over 35%

    (SiteWise, 2020).

  • Surrounding Land Uses

    Along Yorkville Avenue and Cumberland Street the area is predominately characterized by low-rise commercial buildings of which many are in house-form, converted into retail units as the area progressed into a world-class shopping district.

    Located immediately west of the Site is 111 Yorkville Avenue, a 2.5 storey house that is being used for commercial and retail uses. To the north, across the street, is 100 Yorkville Avenue, an 8-storey mixed-use residential building with retail uses at-grade, in particular Chanel.

    To the east of the Site is 99 Yorkville Avenue, which is improved with a 5 storey office building, as well as two houses that are being occupied with notable retail tenants, including Christian Louboutin. Abutting the Site to the south along Cumberland Street are a variety of two storey retail and commercial buildings, containing a range of shops, cafes and restaurants.

    Property

    Lot Size19,622 sq. ft. (0.45 ac.)

    Building Size45,620 gross sq. ft.

    Frontage119 ft. along Yorkville Avenue

    Depth141-180 ft.

    PIN and Legal211970124PT LT 10-11 PL 298 TORONTO; PT LT 21 CON 2 FTB TWP OF YORK AS IN CA225439, S/T CA225439; CITY OF TORONTO

    Easements and Agreements

    There is an agreement with 111 Yorkville Avenue, the property abutting the Site to the west that allows uninterrupted use of the driveway on the western portion of the site for informal parking and loading.

    There is an operating agreement with 99 Yorkville Avenue as it relates to the access to the underground parking garage.

    Property Overview

    summary

    8

    Interior of Property

    Vehicular Access

    The Site has vehicular access on the western portion of the Site, where a driveway is located providing access to the rear of the building for informal parking and loading. Access for the underground parking garage is located through 99 Yorkville Avenue, the property to the immediate east of the Site (please see Easements and Agreements).

    Site Description

    The Property is improved with a three-storey, multi-unit commercial retail building, with a walk-out basement level and parking garage. The building was originally constructed in the mid-1970s.

  • The Site is designated Mixed Use Areas as per the Toronto Official Plan. Lands that are designated for mixed use are anticipated to absorb most of the city’s increase in office, retail, residential and service employment uses throughout the city. Development will take a variety of forms through low and high density projects, ensuring that development is integrated appropriately with the surrounding neighbourhoods.

    In June 2019, the Downtown Plan (OPA 406) was approved which further designates the Property Mixed Use Areas 4 – Local, which are areas identified by the city for lower density development that both respects and enhances the existing built form and streetscape. Policies within OPA406 seek to ensure that development within this designation will contain residential, small-scale office, institutional, service, and retail uses that generally serve the needs of the local community and residents.

    The Site is also located within two Site and area Specific Policy (SASP) areas, 211 and 225. SASP 211 encompasses the lands within the village of Yorkville and underscores the need for new development to reinforce the established character of the neighbourhood through continuous retail shop frontages with low-scale buildings. SASP 225 encourages the creation of new pedestrian walkways at or below grade, as well as new parks to contribute to the pedestrian realm.

    Zoning (By-Law 569-2013)

    Please refer to page 13 for a map of the following nearby development applications.

    The Property is zoned CR 3.0 (c.2.5; r3.0) SS1 (x2271), which allows for a variety of commercial and residential uses on-site with a maximum combined density of 3 times coverage for both residential and commercial uses. The maximum as-of-right density for commercial buildings is 2.5 times coverage, and buildings with just residential is 3 times coverage. The exception provides greater detail on setback requirements from the lot line. The maximum height is 18 metres.

    With a frontage of 119 ft. and depths ranging from 141 to 180 ft., the configuration, size and location of the Site along Yorkville Avenue makes it a truly unprecedented opportunity for a mixed use development of scale. In addition, current policies for the Property are highly favourable for a variety of land use options, including retail, commercial, residential or a mix of uses. Depending on the type of redevelopment, an Official Plan Amendment (OPA), Zoning By-Law Amendment (ZBLA) and Site Plan Application may be required.

    Development Applications

    City of Toronto Official Plan

    planning land useand

    Planning & Land Use Summary

    11

    89 Avenue Road

    121 Avenue Road

    138 Yorkville Avenue

    89 Avenue Road

    121 Avenue Road

    10 Prince Arthur Avenue

    Zoning By-Law Amendment to permit the redevelopment of the subject site with a 29-storey residential mixed-use building, containing approximately 268,000 sq. ft. of residential GFA area and 48,000 sq. ft. of non-residential GFA. A Community Consultation Meeting is scheduled for the end of October 2020.

    Site Plan Control Application to permit a 20 storey residential building with just over 88,000 sq. ft. of GFA with 4 levels of below grade parking containing 76 vehicle parking spaces. The application was submitted in April 2019 and is under review with the City.

    Site Plan Control application for a new 8-storey mixed-use building at the southeast corner of Avenue Road and Webster Avenue, with a total GFA of 33,800 sq. ft. which includes 2,400 sq. ft. of retail at grade. A total of 11 condominium units are proposed. The application was submitted in April 2018 and is under review with the City.

    An Official Plan Amendment and Rezoning application was LPAT approved in 2011 to permit a 7 storey development with just under 80,000 sq. ft. of total GFA with 29 residential units, however, the conditions for approval were never fulfilled. This application highlights an approved mid-rise development in the Bloor-Yorkville node.

    A

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    Rendering

    Source: buzzbuzzhome.com

    Source: buzzbuzzhome.com

    Rendering

  • REPRESENTS CANADA’S MOST

    EXCLUSIVE RESIDENTIAL MARKET

    Bloor Yorkville

    The Bloor-Yorkville community has noticed significant growth in high-rise condominium demand, fueled by job growth, transportation options and world class amenities all in immediate proximity. Within a 1km radius surrounding the Site, there have been 7 new condominium launches since September of 2017. These projects have cumulatively brought 2,834 units on-stream, with only 257 units currently remaining in standing inventory. The rapid absorption achieved within these projects are further magnified by the immense pricing achieved upwards of $2,735 per sq. ft. Additionally, many of these projects were able to sell the bulk of their units within the first few months of opening which is a strong indicator for investor confidence.

    Most notably, the projects Charles at Church, 11 YV and One Residences sold 93%, 70% and 66% of their units respectively in their first 2 months of sales. There are also 8 new projects scheduled to come to market, which will open for sales in Q4 2020. This collection of projects is anticipated to bring approximately 2,354 new units of inventory to the market. The continued success of high-end condominium product will continue to shape the Yorkville community as a premier gateway for luxury goods.

    © 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not beenverified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Informationshould take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

    Layout ID:P03 MapId:7559834

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    HIGH DENSITY DEVELOPMENTS WITHIN A 1KM RADIUS (OPENING SINCE SEP 1, 2017)

    Development Builder Opening OccupancyAvailable

    Price (sq. ft.)Purchase

    PriceSize Range

    (sq. ft.)Storeys Units

    Sold (%)

    11 YV CondosMetropia and Capital

    Developments and RioCan9/18/2019 5/1/2024 $2,397

    $711,990 to $2,325,990

    342 to 1,163 62 586 574 (98%)

    55C Residences Mod Developments Inc. 6/9/2019 9/1/2023 $1,575 $640,900 to $1,593,900

    335 to 1,006 48466

    (85 TBR)352 (76%)

    50 ScollardLanterra

    Developments6/21/2018 9/1/2023 $2,735

    $1,360,900 to $19,000,900

    779 to 5,943 41 112 65 (58%)

    One ResidencesMizrahi

    Developments10/16/2017 4/1/2022 $2,519

    $864,900 to $29,921,700

    591 to 6,137 85 416 332 (80%)

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    3BC

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    12

    Market Overview

    55C Residences 50 Scollard One Residences11 YV Condos

    Yorkville Avenue

    A

    Rendering Rendering

    Rendering Rendering

    Source: urbantoronto.ca Source: gta-homes.com Source: buzzbuzzhome.com Source: urbantoronto.ca

  • MARKET OVERVIEW

    14

    IS THE PINNACLE OF

    CANADIAN HIGH-STREET RETAIL

    Bloor Yorkville

    For several consecutive years, retailing in Bloor-Yorkville has noticed significant momentum with many major deals taking place on the high street. Notable transactions on Bloor Street West include Prada, Sephora and Hermès expansions and Moncler, MCM, Christian Dior introductions. Eataly, the most anticipated Bloor Street opening, opened its doors in November of 2019 and has experienced significant customer traffic throughout 2020. Yorkville neighbourhood is undoubtedly the premier destination for luxury retail, restaurant and entertainment uses and as such, commands the highest rental rates in all of Canada with ground floor space achieving, on average, $200-$300 per sq. ft. net. In recent years, there has been a notable migration from Bloor Street West to Yorkville Avenue - Chanel and Christian Louboutin started the trend and in 2019 the street saw openings from Versace, Stone Island and Brunello Cuccinelli. In 2020, ISAIA opened along the iconic street as well. Yorkville Avenue is also anchored by Yorkville Village at Avenue Road, which has major traffic generators like Equinox and Whole Foods. Flanked by the Hazelton Hotel to the west and the Four Seasons Hotel to the east, Yorkville Avenue’s iconic cobblestone street has a quaint European charm and elegance often missing from commercial high streets.

    Market Overview

    15

  • The Bloor-Yorkville node represents the pinnacle of Canadian high-street retail. The Bloor corridor is recognized internationally as one of the top ten shopping destinations in the world, with high-end fashion dominating the street front. The area provides residents and tourists with the country’s most prestigious selection of luxury and aspirational retailers demonstrating the highest net rental rates in Canada. The area boasts 2.3 million sq. ft. of retail space, 1.5 million of which is street-front. Retail sales performance along Bloor Street corridor often exceeds $2,500 per sq. ft. Demand for space in Yorkville has always been high; however, in recent years there has been an upward trend for luxury retailers, high end restaurants, hotels and bars to take space in the neighbourhood, and it is anticipated that this demand will continue.

    The Yorkville neighbourhood (1km radius from the Site) boasts a strong demographic profile based on a wide range of indicators. The neighbourhood supports a total population of 51,681, which is projected to increase by 15.2% by 2025. Average household income within the neighbourhood is estimated to be $161,823, which exceeds the City of Toronto average by a considerable 35%. Additionally, average expenditure per household within the neighbourhood is $168,006, exceeding the City of Toronto average by over 25%. This demographic snapshot of the surrounding area is highly representative of the affluent households with disposable income. The community provides strong flows for both investment and consumer spending, allowing future brands who want a home on one of Toronto’s most iconic streets to benefit from local residents and international visitors.

    This opportunity has excellent frontage onto Yorkville Avenue, a west-east street that sees exceptional pedestrian traffic. Neighbouring tenants include Chanel, Christian Louboutin, Cibo, Alo, Hazelton Hotel, Off-White and Kasa Moto.

    17

    blooryorkville

    Location Overview

    16

    Royal Ontario Museum

    Chanel

    STK

    Yorkville Village Shopping Mall

  • PROPERTY HIGHLIGHTS PROPERTY HIGHLIGHTS

    18 19

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    Location Overview

    19

    YORKVILLE VILLA

    GE

  • WALK SCORE

    100

    TRANSIT SCORE

    98

    BIKE SCORE

    81

    The neighbourhood offers an array of amenities and services all within walking distance of the

    Property, including Pusateri’s, Eataly and Yorkville Village, which includes Whole Foods and Equinox.

    The Property benefits from being in close proximity to a network of local transit options, including Bay

    Subway Station that is a 3-minute walk from the Site.

    The City of Toronto recently installed bike lanes along Bloor Street West, providing cyclists with a

    safe and convenient route for commuting.

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    YORKVILLE VILLAGE

    J.KETCHUM PUBLIC SCHOOL

    20

    Yorkville Avenue

    Location Overview

  • MEMORANDUM CONTENTS

    This Confidential Information Memorandum (“CIM”) has been prepared by the Advisor and is being delivered to prospective purchasers to assist them in deciding whether they wish to acquire the Property. This CIM does not purport to be all-inclusive or to contain all the information that a prospective purchaser may require in deciding whether or not to purchase the Property.

    This CIM is for information and discussion purposes only and does not constitute an offer to sell or the solicitation of any offer to buy the Property. The CIM provides information relating to certain physical, locational and financial characteristics of the Property.

    The information in this CIM has been obtained from various sources considered reliable. Neither the Vendor nor the Advisor make any representations, declarations or warranties, express or implied, as to the accuracy or completeness of the information or statements contained herein or otherwise and such information or statements should not be relied upon by prospective purchasers without independent investigation and verification. The Vendor and Advisor expressly disclaim any and all liability for any errors or omissions in the CIM or any other written or oral communication transmitted or made available to prospective purchasers. If any information relating to the Property, in addition to the information provided in this CIM, is provided at any time, orally or otherwise, by the Vendor or the Advisor, such information is provided as a convenience only without representation or warranty as to its accuracy or completeness and such information should not be relied upon by prospective purchasers without independent investigation and verification.

    CONFIDENTIALITY By accepting this CIM, prospective Purchasers agree to hold and treat this CIM and its contents in the strictest confidence. Prospective Purchasers will not, directly or indirectly, disclose or communicate or permit anyone else to disclose or communicate this CIM or any of its contents or any part thereof to any person, firm or entity without the prior written consent of the Vendor and CBRE. Prospective Purchasers will not use or permit this CIM to be used in any manner detrimental to the interests of the Vendor, or CBRE or their affiliates or for any other purpose than a proposed purchase of the Property. The recipient of this CIM agrees to provide CBRE with a list of those persons to whom this CIM or any information contained herein is provided. The terms and conditions in this Section with respect to confidentiality and the disclaimer contained under the heading “Memorandum Contents” will relate to all Sections of the CIM as if stated independently therein.

    The CIM shall not be copied, reproduced or distributed, in whole or in part, to other parties at any time without the prior written consent of the Vendor and CBRE. It is made available to prospective Purchasers for information purposes only and upon the expressed understanding that such prospective Purchasers will use it only for the purposes set forth herein.

    Upon request, the recipient will promptly return all material received from the Vendor and CBRE (including the CIM) without retaining any copies thereof. In furnishing the CIM, the Vendor and CBRE undertake no obligations to provide the recipient with access to additional information. The division of the CIM into sections, paragraphs, sub paragraphs and the insertion or use of titles and headings are for convenience of reference only and shall not affect the construction or interpretation of this CIM.

    INDEMNIFICATION Recipients of this CIM acknowledge that they are principals or investment advisors in connection with the possible acquisition of the Property. Where a recipient of this CIM is working with another broker, that broker must register its client with CBRE at the outset. The broker must notify the listing agents at CBRE in writing, at the time the CIM is provided, that it is representing that Purchaser and must provide a written acknowledgment of representation from the Purchaser stipulating that the Purchaser will be responsible for their broker’s fees. Failing receipt of such notice and acknowledgment, it shall be deemed that the recipient has not dealt with any broker, other than CBRE, regarding the acquisition of the Property, and the recipient agrees that they will not look to the Vendor or CBRE, or any of their affiliates for any fees or commissions in connection with the sale of the Property. It is understood and agreed that the Purchaser shall be responsible for any and all fees payable to their broker should the Purchaser choose to engage a broker other than the CBRE Listing Team.

    In exchange for specific good and valuable consideration provided by the Vendor and CBRE, including without limitation, the delivery of this CIM, the receipt and sufficiency of which are hereby acknowledged by the prospective Purchasers, prospective Purchasers hereby agree to indemnify the Vendor and CBRE, and their affiliates against any compensation, liability or expense (including legal fees), arising from claims by any other broker or other party the Purchaser had dealings with (excluding CBRE) in connection with the sale of the Property, or in connection with a breach by the prospective Purchaser of its obligations as described herein. In no event shall prospective Purchasers or any of their agents or contractors contact any governmental authorities concerning the Properties, or make any physical inspection or testing of the Properties, without the prior written consent of the Vendor or CBRE.

    TRANSACTION REQUIREMENTS

    Interested parties are invited to submit a proposal on the Vendor’s Agreement of Purchase and Sale. From the submissions, one or more of the proposals may be short listed to proceed to the next stage of the process where it is the intent of the Vendor to enter into a binding Agreement of Purchase and Sale for the Property. All participants in the process do so of their own accord. Neither the Vendor nor CBRE make any representation or warranty, or any agreement whatsoever, that the Vendor will accept any Agreement of Purchase and Sale, before or after negotiations, which may be extensive, that the Vendor will accept the highest or any price offered or, that the Vendor or CBRE, shall compensate any participant for any costs incurred in its participation in the process.

    Offers will be evaluated on, among other criteria, the consideration offered for the Property, the prospective Purchaser’s ability to complete the transaction, and the proposed conditions of closing.

    OFFER SUBMISSIONS

    Offer Submission Date: Tuesday, November 24th, 2020 by 4:00 PM (EST)

    All offers to be submitted to:

    Mike Czestochowski | [email protected]+1 416 495 6257

    OFFERING

    process

    22 23

    Lauren White | [email protected]+1 416 495 6223

  • 24

    This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not rep-resent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries.  All other marks displayed on this document are the property of their respective own-ers.  All Rights Reserved.  Mapping Sources: Canadian Mapping Services [email protected]; MapPoint, DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth 10/2020.

    *Sales Representative **Broker | All outlines are approximate

    Mike Czestochowski**Executive Vice President T +1 416 495 6257 [email protected]

    Emelie Rowe*Planner T +1 416 495 6306 [email protected]

    Evan StewartSales Representative T +1 416 495 6205 [email protected]

    LAND SERVICES GROUP:

    Lauren White*Senior Vice President T +1 416 495 6223 [email protected]

    URBAN RETAIL TEAM:

    Arlin Markowitz* Senior Vice President T +1 416 815 2374 [email protected]

    Alex Edmison* Senior Vice President T +1 416 874 7266 [email protected]

    for more information

    please contact: advisors below

  • The undersigned hereby acknowledges that CBRE Limited (“CBRE”); through the Land Services Group and Urban Retail Team, has been retained by the vendor on an exclusive basis to arrange the sale of 101 Yorkville Avenue in Toronto, Ontario (the “Property”). All inquiries and communications with respect to the Property shall be directed to any of the listing agents of CBRE. We have requested from the vendor and CBRE, information, including confidential and proprietary information, which has not been generally disclosed to the public, for use in evaluating a potential purchase of the Property.

    In exchange for good and valuable consideration provided by the vendor and CBRE, the receipt and sufficiency of which is hereby acknowledged, we agree to keep confidential any and all information supplied to us concerning the Property that is not a matter of public record and not to utilize any such information for our own benefit (or for the benefit of anyone else) other than for the evaluation of the Property with respect to a potential purchase.

    We understand that we may transmit any such information to partners, officers, directors, employees or legal or financial advisors (collectively, “representatives”) but only to the extent that they need to know such information for the purpose of such evaluation. We undertake to inform such representatives of the confidential nature of such information and that they will be bound by the terms of this Agreement. We agree to be responsible for any breach of this Agreement by our representatives. We agree that any legal, financial or any other third party advisors that are retained by us, to act on our behalf, will be compensated by us. This shall include outside brokers.

    We understand that upon the vendor’s request we will provide all pertinent financials of the company looking to purchase the above-mentioned property to the vendor in a timely manner and that these statements will only be used for the purpose of determining the financial feasibility for this transaction.

    We agree to read and examine all material provided by the vendor on the above-mentioned property and will do so prior to submitting an Agreement of Purchase and Sale or Letter of Intent.

    We agree to return all documentation provided herewith, and any notes or copies made thereof if we decide not to pursue or complete this opportunity. We also agree not to use the information provided in any way detrimental to the vendor (or any parties assisting the vendor), either before or after cessation of our pursuit of property purchase. The provisions of this Agreement are binding on our successors or assigns.

    We acknowledge that the marketing package and the other information being delivered to us with respect to the Property is subject to the limitations on liability and disclaimers for the protection of the vendor and CBRE contained in the marketing package.

    We agree to indemnify and save harmless the vendor and CBRE from any claims, losses, damages and liabilities whatsoever (including legal fees on a substantial indemnity basis and disbursements) arising out of a breach by us or any of our representatives of any of the terms or other provisions of this Agreement. CBRE and the vendor also reserve the right not to release information.

    We agree to continue to work through the Land Services Group and Urban Retail Team at CBRE Limited for the above-mentioned property including offers within 12 months after the expiration of the Listing Period, so long as we wish to make any offer within said time-frame and we were introduced to the Property during the Listing Period or shown the Property during the Listing Period, which we have acknowledged by signing below.

    We agree that any and all communication with regards to this property shall be done so through CBRE. We and/or our representative will not at any time contact the vendor directly.

    CBRE and the vendor shall not be responsible for the payment of brokerage or other fees to any outside agents or consultants in connection with this offering. CBRE is exclusively representing the vendor and will not act on behalf of any potential purchasers. With the execution of this Confidentiality Agreement, the undersigned acknowledges that they are undertaking this investigation of the Property at their sole risk and expense and that under no circumstances will any amounts expended by the undersigned for its due diligence investigation or review be paid or reimbursed by the vendor or CBRE. A digitally submitted or a scan of a signed copy of this Agreement shall be deemed to be an original signed copy.

    CONFIDENTIALITY AGREEMENT 101 YORKVILLE AVENUE · TORONTO, ON

    THE SECTION BELOW MUST BE COMPLETED AND SUBMITTED TO [email protected] IN ORDER TO RECEIVE THE DUE DILIGENCE PACKAGE

    †REQUIRED FIELDS. **Broker, *Sales RepresentativeThis disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.

    Mike Czestochowski** Executive Vice President 416 495 6257 [email protected]

    Lauren White* Senior Vice President 416 495 6223 [email protected]

    Arlin Markowitz* Senior Vice President 416 815 2374 [email protected]

    Evan Stewart Sales Representative 416 495 6205 [email protected]

    The button above can be clicked to submit the CA electronically using the

    Adobe Reader application, once the required fields

    have been filled.

    OR

    Please print, complete, sign and scan an email copy to

    [email protected].

    Emelie Rowe* Planner 416 495 6306 [email protected]

    (I possess the authority to legally bind the Corporation)

    †PROPONENT NAME: REPRESENTATIVE:

    †COMPANY: COMPANY:

    †PRIMARY EMAIL: PRIMARY EMAIL:

    PRIMARY PHONE #: PRIMARY PHONE #:

    ADDITIONAL EMAIL: DATE:

    ADDITIONAL PHONE #: SIGNATURE:

    †DATE:

    †PRIMARY SIGNATURE:

    Please indicate if you would like a follow up call or meeting:

    CALL: MEETING:

    Alex Edmison* Senior Vice President 416 874 7266 [email protected]

    Proponent name field: company field 2: email field 3: email field 4: date: Button 2: email field 7: C1: OffC2: Offdate 2: Proponent name field 2: company field 3: email field 5: date 3: date 4: