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