Europro acquires landmark building in Toronto, Ontario
TORONTO, ON – December 3, 2021: Europro has completed the acquisition of Madison Centre, located at 4950 Yonge Street in Toronto, Ontario from Northam Realty Advisors Limited.
The Madison Centre is a landmark office tower centrally located in the heart of North York’s commercial district. The building is a 445,000 square foot mix-use space comprised of office with a ground-level and below-grade retail concourse. The building is an integral part of the North Yonge skyline and is rich in amenities, including a full-service GoodLife Fitness facility, food service and direct access to the Yonge-Sheppard TTC subway.
The Madison Centre is a strategic add-on to Europro’s existing presence in the corridor and is steps away from the 5001 Yonge Street property acquired in December 2019. The building is adjacent to City Hall, other prominent office towers, and is surrounded by residential developments, retail, food, and local conveniences.
Together with 5001 Yonge, Europro will manage over 800,000 square feet in North Yonge and will be one of the largest commercial landlords in the node, providing the ability to offer tenants multiple options and customized solutions within the immediate area. “We are excited to add a property with great name recognition in the city of Toronto to our portfolio, which further emphasizes our rapid growth strategy,” said Jesse Nathanson, Europro Vice President.
With a tenant-centric approach at the forefront of our efforts, we look forward to fostering relationships with existing and new tenants at Madison Centre. “Europro has a proven track record of creating value within our portfolio applying our unique full-service management platform to offer unparalleled service to the tenant community,” said Nathanson.
“Having a dedicated management team in Toronto has allowed us to continue to grow our portfolio of properties while maintaining our core values centred around tenant satisfaction and generating steady returns for our investors and partners,” concluded Nathanson.
The Europro team would like to acknowledge and thank Dominic Delapenha from Colliers, Todd Copland, Peter Filardi, and the entire team at Northam Realty Advisors for their diligent efforts during this transaction.