143 Metcalfe, Elora, ON
In 2018, the client purchased this property in Elora. It had undergone a significant conversion that transformed it from a 3-storey medical office building into a fabulous mixed-use property. Combining 8 luxury apartments, and two main-floor retail units, there were several obstacles to overcome. Continuously changing architectural plans, and a labyrinth of required permits—it was definitely an adventure.
Maven began listing the retail floors for lease during this conversion process. The plan was to secure a tenant to occupy the space upon the completion of the renovations and to also allow that tenant to have some say on the buildout of the space. This was especially important to actualize while permits were still open, and the construction teams were still on-site.
Prospective Tenants were booked for showings only after they had qualified. Like a good matchmaker, Maven conducted several showings with businesses whose intended use was the right fit, not only for the unique building but also for the charming, historic town. While few formal offers came in, one party showed very strong interest in the larger main floor unit (B) as well as the 2000sf unit available on the lower level (LL).
During the height of the COVID pandemic, the owner of Dalby House remained committed to realizing his vision of a mixed-use property featuring retail and multifamily residential units. Times were unpredictable. He appreciated Maven’s excellent range of services, from property management to forecasting and market analysis, and then construction oversight and negotiations.
Because the tenant mix was very important to this particular landlord, Maven invited the interest of a local serial entrepreneur with a track record of vibrant concepts. After 9 months of the determined pursuit of the ideal tenant, he jumped on and presented a great plan for the building. The property is now fully occupied, and more news will follow soon about its dynamic presence in this beautiful community.
Maven works with Landlord clients to find just the right Tenants for their commercial properties, ensuring a good match for all.
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