A fully leased retail property in Scarborough, Ontario, occupied by furniture and appliance retailer The Brick, has sold for $11.4 million, according to Connect CRE Canada.
The building, located at 1165 Kennedy Rd. in the Dorset Park neighbourhood just north of Lawrence Avenue East, spans 30,270 square feet and sits on a 1.69-acre site. Of that total, 28,757 square feet is retail space, with the property also offering surface parking.
The Brick occupies the entire building, operating the site as one of its outlet locations selling furniture, mattresses, appliances and electronics.
Deal Breakdown
The $11.4-million sale price works out to roughly $377 per square foot of building area. The property had been marketed by Vanguard Northeast Realty as a single-tenant investment opportunity, with its listing emphasizing exposure along Kennedy Road and its position within an established Scarborough retail and business corridor.
The Brick’s Broader Footprint
The Brick is part of LFL Group, which also operates the Leon’s furniture banner. In its most recent corporate disclosure, the company reported operating 118 The Brick stores along with six Brick Outlet locations across Canada.
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