How do you buy Real Estate? Location, location, location.
Buy Property Near The Jobs!
Are you looking to invest in an area where the employment capacity is increasing? Take a look at residential investment properties near Weber Street North between Northfield and Benjamin Road.
This short stretch of road in North Waterloo adjacent to an investment property we just sold is seeing a lot of intensification through redevelopment. Let’s take a look at what’s in the pipeline:
North Waterloo Development Projects
580 Weber Street North, Former NCR Site
Purchased by GPM Investments in 2008 for ~ $20,000,000
Plans for 350,000 – 500,000 square feet of offices in 8-12 buildings
The former NCR site is huge – 37 acres with an existing building of approx 280,000 square feet as is. To give you an idea of the expansion potential, the site currently houses a couple baseball fields.
GPM (the same firm that is developing Sportsworld Crossing) has plans to add an additional 8 buildings (between 2,670 and 50,000 sq ft) to the site, to compliment the existing building. According to The Record, they’re debating whether to modify or replace the existing office building.
600 Weber Street North
Under redevelopment by the Marsland Corporation – 106,000 square feet
The Marsland Family owns some prominent office real estate in Kitchener Waterloo, including the Marsland Centre on Erb in Uptown Waterloo, two buildings RIM leases on Phillip, the Sybase building in the University of Waterloo Research & Technology park, and several Class A high-tech offices on Randall.
They are currently renovating their 100,000+ sq ft property at 600 Weber Street North, and have plans for a new 50,000 square foot building next door at 598 Weber Street North. This site is immediately north of the NCR site
Redevelopment site, 630 Weber Street North
15 acres, existing building is 152,000 sq ft
This site, just south of Benjamin Road on Weber, is being redeveloped into a hi-tech office campus. The site was recently sold by CBRE to Cooper Construction.
Location, Location, Location
Oh – there is also a proposed Light Rapid Transit (LRT) stop at Northfield and Parkside, one block from Northfield & Weber. And SmartCentres just poured millions into a new retail development anchored by Walmart a minute away in St Jacobs.
Your future tenants enjoy things like that.
When you are investing in a residential rental property in Waterloo, you can buy one of the shiny new condos for $$$ in uptown, or buy a comparative bargain in the Northlake neighbourhood near major tech firms, new retail development and LRT.
Your money, your call. For a list of affordable investment opportunities in the North Waterloo area, send me an email at Benjamin @ BenjaminBach.com or call me at 519-772-4376
Note: Leasing at the NCR site is handled through Colliers; 600 Weber is for lease through DTZ Barnicke.