Europro JV Buys 7.8-Acre Yonge Corporate Centre From CF

After first listing the Yonge Corporate Centre three years ago, pulling the listing, then re-listing the property this time last year, Toronto-based Cadillac Fairview has finally completed a sale of the sprawling office property.

In late January, Toronto-based commercial property management company Europro announced that they had partnered with Arista, Fieldgate Commercial, and Paradise Commercial to acquire the Yonge Corporate Centre, but did not disclose details about the transaction or ownership split.

One industry source said that the sale price was around $140 million at a cap rate of around 8.5%, but STOREYS could not independently verify the details. Reached for comment by STOREYS, a Europro representative declined to comment.

The Yonge Corporate Centre is located just north of the intersection of Yonge Street and York Mills Road, next to the Don Valley Golf Course. The 7.79-acre campus was constructed between 1985 and 1989 and consists of three six-storey office buildings located at 4100, 4110, and 4120 Yonge Street.

The campus is home to 649,808 sq. ft of Class A office space — split relatively evenly across the three buildings — plus 7,992 sq. ft of retail space in a standalone heritage building (4150 Yonge Street) that’s home French restaurant Auberge de Pommier, bringing the total amount of net rentable area to 657,800 sq. ft.

The property was listed by Peter Senst, Jaysen Smalley, and Kai Tai Li of CBRE alongside Ashley Martis, Elliot Medoff, and Alexandra Ivashenko of TD Cornerstone. Last year’s sales brochure noted that the Yonge Corporate Centre had an occupancy rate of 83%. Tenancies had a weighted average lease term of 3.6 years, with tenants including Ontario Lottery and Gaming, Dayforce, Wawanesa Insurance, Canadian Institute for Health Information, and BlueCat Networks.

The sales brochure also outlined the “significant residential redevelopment potential” of the site, including a development concept that would include four towers between 34 and 37 storeys, two towers between 24 and 27 storeys, and two buildings between 10 and 14 storeys. However, Europro has not indicated that it has any redevelopment plans and the company voiced a strong belief in the office market.

A Return To Office?

The Yonge Corporate Centre at 4100-4150 Yonge Street. (Europro)

“We see clear indicators of strength returning to the office sector,” said Europro Vice President of Asset Management & Investments Jesse Nathanson in the press release. “This acquisition aligns neatly with our strategy of owning and operating best-in-class office experiences in high-growth transit-oriented markets. […] This milestone reinforces our long-term commitment to the node. Expanding our presence here strengthens our ability to support the business community and positions our portfolio for sustained growth in one of Toronto’s most dynamic office markets.”

With the Yonge Corporate Centre acquisition, Europro now owns three significant assets along Yonge Street in the North Yonge corridor, with the other two being the 19-storey office tower at 5001 Yonge Street and the 24-storey Madison Centre at 4950 Yonge Street. The three assets total to over 1.5 million sq. ft.

Europro also said that it has a “strong conviction in the long-term vitality of the North Yonge market and the recovering office sector,” while Executive Vice President of Paradise Commercial Steven Weisz said he believes the office sector “is in the early innings of a strong comeback” and President & CEO of Arista Michael DeGasperis said that the partnership is “fully committed to enhancing this campus.”

According to a report published by commercial real estate data and analytics firm Altus Group last week, the office availability rate in Toronto decreased to 16.7% in Q4 2025, a year-over-year decrease of 2.10%, and reflects a strong economic base and strong enforcement of return-to-office.

The absence of new construction — a trend present across most of the country — also contributed to the absorption of existing space, while the so-called “flight to quality” has also benefited Class AAA and A buildings across Canada.

Commercial

Confident In Office, Europro JV Buys 7.8-Acre Yonge Corporate Centre From Cadillac Fairview

​With the Yonge Corporate Centre acquisition, Europro now owns three significant assets along Yonge Street in the North Yonge corridor.

A Return To Office?

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With the Yonge Corporate Centre acquisition, Europro now owns three significant assets along Yonge Street in the North Yonge corridor.

From the street, the home reads as fluid and deliberate, with soft curves and signature arches that immediately set it apart from the city’s more angular stock.

On January 28 and 29, the BUZZ Conference will bring "GREATNESS 2026" to the Mississauga Convention Centre.

The agency’s Investment Policy Framework prioritizes "modern methods of construction," signalling a massive federal tailwind for the modular and pre-fab industry.