Jones Lang LaSalle’s Canadian Capital Markets team is pleased to bring to market the Medical Arts Building in Newmarket, Ontario, Canada. The 174,527-square-foot (16,220 sqm), Class A office building is fully leased to the Southlake Regional Health Centre. With 27 years remaining on a 30-year term, this carefree asset provides a long-term guaranteed cash flow from a government-backed entity with CPI adjustments every 10 years.
The Medical Arts Building is a fully integrated component of the Southlake Regional Health Centre, as the building itself is connected to the main hospital by an all-season elevated pedestrian bridge. This 2007-built structure provides state-of-the-art facilities, as its structural, HVAC, accessibility and mechanical systems surpass industry standards.
The town of Newmarket is located 40 minutes north of Toronto, connected by two major highways that lead directly to downtown Toronto. The Southlake Regional Health Centre is located on Davis Drive, which has been designated as an ‘urban centre’ by the city of Newmarket and will become an attractive urban destination to work, dine, relax, live and shop.
Offering a combination of institutional grade asset quality, a stable income stream and an excellent location in one of the upand-coming suburbs of Canada’s largest city, the Medical Arts Building is a unique and compelling investment opportunity. For more information, please contact Matthew Smith, Hugh O’Connell, Andy Baines or Lucy Fletcher.