85 St. Clair Avenue East, Toronto

The United Church of Canada owned and occupied 85 St. Clair Avenue East, an 85,000 square foot, dysfunctional office building, built circa 1950. The building was part of a land assembly overlooking a quiet ecosystem within walking distance of Yonge Street.

What We Have Learned
The client’s need evaluation and financial study of its long-term occupancy cost by a third party consultant led to the decision to sell the property.

The challenges to the marketing program were unique given the sensitivities of the organization, concern for the staff and the overall fairness of the process to be undertaken.

The property was sold to a residential developer at a cost above the budgeted disposition value and negotiations permitted the client to remain in the building at no cost until demolition.

“… In selecting a real estate firm we were very concerned about how that firm would represent our values and interests, and thus the style and reputation of the agent were important considerations in our decision making. Pierre Gagné brought excellent references, and more importantly lived up to those references in all activities undertaken on our behalf.

We were impressed by Pierre’s ability to undertake and interpret both our needs and our corporate culture to prospective purchasers. He was also of considerable assistance in helping us to understand offers made on our property and in working with us to establish criteria by which we could make consistent and responsible decisions…”

R.L. Naylor
General Secretary, Communications
The United Church of Canada

P.G. GAGNÉ COMMERCIAL REAL ESTATE CORP., Brokerage, 220 Bay Street, 9th Floor, Toronto, Ontario, M5J 2W4 • Tel: 416-955-1885 Fax: 416-862-2136 • pierre@gagnerealestate.ca