Navona Closes Sale of 2001-2045 Drew Road, Mississauga

Navona is pleased to announce the sale of 2001-2045 Drew Road, Mississauga, Ontario to Dhaliwal Investments Limited in November of 2015.  The disposition continues the successful execution of Navona’s repositioning strategy: Converting fully leased single-tenant industrial assets into multi-tenanted properties and creating value through lease-up and capitalization via ultimate sale.  Navona would like to thank its business and consulting partners Jones Lang Lasalle, G. Griffiths & Associates and G T Happy Construction Ltd for completing this project cycle with Navona.

2001 Drew Road 2001-2045 Drew Road, Mississauga, Ontario

Navona acquires Promising Re-Development Land

Navona is pleased to announce the acquisition of 747 Appleby Line in Burlington, Ontario in May 2015 from RockTenn Canada. The 22 acre piece of industrial land currently houses a 223,000 square foot production facility which has not been in use since 2013.

The uniquely located property lies adjacent to the Appleby GO Station and neighbours 5041 and 5091 Fairview Street, both of which are under existing Navona management.

747 Appleby Line E.

In addition to Ontario’s Greenbelt and Places to Grow initiatives, the province is pushing forward with an integrated public transport concept under the name “The Big Move”, which reflects current priorities and long-term transportation goals in the Greater Toronto and Hamilton Area (GTHA). Under this plan, “anchor hubs” such as Toronto’s Union Station and Pearson Airport acting as primary international gateways and “gateway hubs” linking two or more regional transit systems will continue to develop and intensify over the next decades. In addition, the planned electrification of the GO rail network (currently still operated by diesel trains) will eventually result in faster, more reliable and more frequent service across the GTHA.

Burlington, Ontario Expansion CorridorOvercrowded road networks and undersized local public transportation systems have struggled to expand and with the population of the GTHA expected to increase by a further 39% by 2036, implementation of the “Big Move” initiative is both highly anticipated and required.

Applyby Go Station Development pic three

Based on the expected demographic shifts and an increase in commuter and residential density, Burlington’s city council has begun detailed planning in recent years to develop its gateway, or mobility hub approach.

The proposed concept includes the following key points:

1. Develop an integrated transport transition between train, bus, car, bicycle and pedestrians.

2. Focus on creating jobs by supporting infrastructure such as restaurants and retail stores.

3. Improve aerial density by building structures with 6 to 10 floors instead of the previous 2 to 6.

Mobility Hub ConceptWhile the land at 747 Appleby Line is still zoned industrial, redevelopment plans for the property are expected and encouraged by the City of Burlington. The land and building will be rented for short term use until redevelopment plans have been finalized.

Picture Sources:  City of Burlington Official Plan Review:  Mobility Hubs Opportunities and Constraints Study, Final Report, May 2015.  Brook McIlroy/ARUP

Heidi Horak to retire after decades of service

After 23-years of tireless dedication as Vice President and Controller of Navona Group, Heidi Horak will retire on June 30, 2015. We at Navona would like to thank Mrs. Horak for her years of outstanding service, her leadership and all she has taught us. She was instrumental in making the company the success it is today. The wonderful working friendship we developed will be dearly missed and we wish Mrs. Horak all the best in her well-deserved future endeavors.

Kimmy Phu appointed as Controller and Vice President

Navona is pleased to announce that Ms. Kimmy Phu assumed the position of Mrs. Horak beginning July 1, 2015.  Ms. Phu is a Certified Chartered Professional Accountant who completed her academic training in Business Administration at Humber College as well as a Bachelor of Commerce degree at Ryerson University.  Ms. Phu brings with her many years of controllership experience and comes from Canadian Real Estate Investment Trust (CREIT), where she held a similar position.  Ms. Phu will support Navona in the areas of property accounting, corporate accounting and budgeting, auditor coordination, tax returns, management of insurance policies, as well as special projects.  We wish Ms. Phu a successful start and look forward to working with her.

Navona welcomes New Tenant

3573 Mercantile Avenue, Naples, Florida            See the Mercantile Avenue property summary here.

Navona has concluded a new lease at its property 3573 Mercantile Avenue, Naples, Florida.

Naples Finishing has leased 5,681 square feet and will operate a kitchen cabinet finishing business from Unit 4.  Construction on unit demising and build-outs will commence in May after building permits have been received.

With Units 5 and 6 leased to Apple Moving, approximately 8,300 square feet are currently available for lease. Due to the strength of the local economy, there already is considerable interest in the remaining units in advance of the build-out completion.

Acquisition of 350 Queen Street West

With 350 Queen Street West, Navona is pleased to announce another successful acquisition in Toronto‘s trendy Queen Street West retail core in November 2014.

The 3,700 square foot heritage property is located in the prime north side stretch of Queen Street West just east of Spadina Avenue, an area recently dubbed the second coolest neighbourhood in the world by Vogue magazine. The building is centrally located in the Queen West heritage district famous for its mid 19th century buildings with sloped roofs, detailed facades and decorative window styles. Here, attractive low-rise buildings line the street and offer an uninterrupted pedestrian shopping experience and unique streetscape.

350 Queen Street West350 Queen street West,Toronto

While the retail and residential units are fully tenanted, an extensive revitalization of the upper floors and retail space together with a building expansion on additional land to the North is scheduled to begin in July 2015. Navona will draw from its network of preferred contractors and work closely with local architects to preserve as well as enhance the building’s architectural features, while maximizing the economic potential of the building and its premier location.

This transaction continues Navona’s investment expansion into Toronto‘s high volume pedestrian neighbourhoods. It also highlights Navona’s strengths in sourcing viable investment options in select urban areas, while at the same time unlocking value growth through renovation upgrades.

Vogue names Queen Street West Second Hippest District in the World

Vogue magazine has named Toronto’s Queen West the second hippest neighbourhood on the planet in a recent September 2014 article.  Queen West’s popularity originally grew in the 1980’s as it nurtured cultural and artistic growth in Toronto by offering many young artists from the nearby Ontario College of Art & Design low rents in live-work studios.  Over the last few years the neighbourhood has seen a huge increase in completed condominiums, which have attracted a wealthy urban clientele and as a result many of the galleries and artists have since moved out of the area.

Despite its transformation into a more mainstream retail and entertainment district, Queen West continues to be one of the most culturally diverse, eclectic and artsy areas of the city.  With the help of the Queen St. West Businesss Improvement Area (BIA), the local retail community is mandated to undertake beautification projects, promote itself as a top visitor destination and retain its unique character.

342 Queen Street WestSee the 342 Queen Street West property summary here.

New Lease Concluded in Burlington

Navona is pleased to welcome Tile Solutions Inc. as our new tenant at 5490 Harvester Road in Burlington, Ontario.  As a distributor and installer of bathroom and kitchen floor coverings, Tile Solutions has serviced customers throughout the GTA since 2005.  The 12,000 square feet space at Harvester Road will serve as a showroom and warehouse to their expanding clientele in the Niagara Falls, Hamilton and Burlington regions.  The tenant began its 10 year occupancy term in early September, and both landlord and tenant work are currently underway, in preparation for the public opening on December 1, 2014.  We thank Blair Blanchard Stapleton for their efforts in bringing this tenant to Harvester Road, which is now fully leased again.

5490 Harvester Road, Burlington

                        5490 Harvester Road, Burlington

Navona Blog has arrived!

In an effort to expand communication with Navona’s clients and service partners, Navona has launched its English speaking blog beginning October 2014.  Company news including the acquisition, disposition and renovation of properties, as well as regular industry information and real estate trends in Canada will be posted on a continuous basis.  Be sure to check our blog regularly at or directly through our website at

Piazza NavonaPiazza Navona