Prominent ‘Mink Mile’ Building Sold to Amsterdam-Based Investors
The 1200 Bay Street office/retail block has been sold to European investors. The building includes flagship locations for footwear retailers David’s Footwear and Capezio Shoes, and is at the northwest corner of Bloor Street West and Bay Street in the heart of Toronto’s ‘Mink Mile’.
The 100,000 square foot 12-story mixed-use building was built in 1966, and its sellers were the original group that developed the building. Jordan Karp, Senior Vice President of Paracom Realty, along with Vice President Ryan Morein, acted in the capacity of both exclusive listing and selling broker for the deal. The successful bid was made by ProWinko Canada Inc. andKroonenberg Groep, who closed the transaction on March 2, 2016. Prowinko and Kroonenberg Groep are both privately owned real estate companies based in Amsterdam.