- What Kolt Investments has purchased four small-bay industrial buildings
- Why The properties are close to Highway 401
- What next Kolt Management now manages the properties
Canada Life Assurance Co. has sold a portfolio of small-bay industrial condominium properties in Toronto’s Scarborough district for approximately $60.1m, Green Street News can reveal.
The buyer is Toronto-based Kolt Investments, previously known as Takol Real Estate. The sale closed on June 21.
The seller, Canada Life, was represented by CBRE.
The four buildings, which total roughly 188,000 sq ft, are at 445, 455 and 465 Milner Avenue and 50-70 Novopharm Court. They are just north of Highway 401, within a kilometre of Centennial College.
Kolt Management is now managing all four properties, which were built in 1980.
Units at the roughly 60,000 sq ft 465 Milner Avenue property range from 3,700 to 11,000 sq ft. The property at 455 Milner Avenue totals 46,000 sq ft, and 445 Milner Avenue is 41,000 sq ft. The building at 50-70 Novopharm Court is 41,000 sq ft.
