I’ve discussed a shortage of real estate entrepreneurs elsewhere, http://www.eqjournal.org/?p=4349. Now I want to deal with the fact that there is also a shortage of land for high end development of industrial and business uses despite the city of Ottawa having a study that says otherwise. In fact, the city says they have enough land of this type to provide a 50-year supply.
Here’s why they’re wrong–
1. much of those lands are owned by the Crown (in the form of the NCC, National Capital Commission) and, hence, out of bounds for development
2. the rest is owned largely (more than half) by 8 large developers who are happy to build-to-suit to lease but not sell any lands for entrepreneurs to build and own their own premises
3. what land is available for purchase is pricey (now over $350,000 per acre in many parts of the city)
4. much of the supply is sited next to undesirable uses such as landfill site, quarry, auto wrecker, junky or derelict building, …
That’s why companies like world-brand John Deere and upscale Play Value Toys bought land at the new David Manchester road/Hazeldean road interchange on the newly developed divided highway 7 at its junction with highway 417 (the Queensway). It’s where a new industrial/business park should be located.
Here’s an opportunity to join them/invest in the area/build something marvelous…
List Price: $15,315 per acre, total 78.35 acres
Location: future development land next to new interchange with highway 7 frontage. Practically the corner of highway 417 (the Queensway) and highway 7. 3-minutes from Canadian Tire Centre. Fast growing area. Other locations for industrial/business park development in west end Ottawa don’t have frontage on major highways or are next to heavy industrial users like aggregate plants, quarries, landfill sites, auto wreckers, …
Property Type: opportunity to own land fronting on new highway 7, just 3 mins west of Canadian Tire Centre. Sold as part of 3-parcel package with total area of 78.35 acres. Close to Stittsville, Kanata, Nepean and Ottawa. Develop next to world brand, new John Deere dealership and high end Play Value Toys with visibility on highway 7 and new interchange. Read how Doug Jones and his team worked to get Play Value Toys approved and built here, http://profbruce.tumblr.com/post/66464392450/playvalue-toys-when-doug-janet-and-reid-jones.
Remarks: primed for development of high end industrial park. Rezoning for John Deere and Play Value Toys approved unanimously by city council. At $15,315 per acre, it’s priced to sell. Industrial land selling for as much as $100,000 to $150,000 per acre. Excellent for end user or developer who wants to do build-to-suit or investor.
Directions: from Stittsville, go west on Hazeldean road. Turn east on David Manchester. Parcels are on your right after passing John Deere and Play Value Toys. From Canadian Tire Centre, go west on the Queensway, veer onto highway 7, get off at David Manchester interchange. 3 mins.
Highest and best use: future high end industrial park/business park on new interchange, newly-built divided highway next to world brand John Deere dealership and upscale Play Value Toys, minutes from Stittsville, Kanata, Canadian Tire Centre
ICX MLS # 936635, 936636, 936637
Lot MLS # 936632, 936633, 936634
Bruce M Firestone, Century 21 Explorer Realty Inc broker, Ottawa Senators founder
call: 613.422.6757 x 250
tweet: @profbruce @quantum_entity
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