Financial Anchored Strip Centre

Transcription

1 Westview Plaza Financial Anchored Strip Centre Location British Columbia Contact Curtis Leonhardt* Joe Genest* *Personal Real Estate Corporation

2 BC ALBERNI STREET Easement Area Subject Site Salient Details Municipal Address: Legal Address: Property Size: Net Rentable: Environmental: Tenants: Parking: Zoning: Access/Egress: Weighted Average Lease to Expiry: NOI*:,, BC LOT B BLOCK 19 DISTRICT LOT 5306 PLAN 6314 PID: Acres 27,065 SF Lewkowich Engineering completed a Phase I ESA in 2014, which recommended no further investigation. The report can be made available for review following execution of CA. Scotiabank (Since Sept. 1973) Benjamin Moore (June 1995) Hospital Auxiliary (Sept. 1993) Vietnam Cuisine (May 2007) Salvation Army (10yr Lease Exp. 2027) Potesta Cassar Enterprises The majority of the parking for the subject property is by way of an easement, in perpetuity, over the adjoining three (3) acre lot C1 - (General Commercial) All turns from Alberni Street, as well as accessible from the adjacent retail centres by way of connected drive isle parking lots Years Cap Rate: 7.52% Asking Price: $217,249 / annum $2,890,000 ($ PSF) * Net operating income includes a leaseback / rent guarantee from the Vendor for the 3,696 SF unit that is currently vacant. Highlights JOYCE AVENUE Subject property is located in close proximity to the highly trafficked Joyce Avenue and has excellent exposure to Alberni Street, a major thoroughfare. Subject property provides stable cash flow with in-place long term leases, including a new 10 year lease with Salvation Army, as well as recently completed renewals with Scotiabank, Vietnamese Restaurant and 10 year renewal and expansion with Powell River Health Care Auxiliary. Located within s retail hub, the subject property is in close proximity to Walmart, Canadian Tire, Save-on-Foods, Quality Foods, Shoppers Drug Mart and many other national and local retailers. Property is held in a bare trust, offering opportunity to complete a share purchase and avoid Property Transfer Tax. Improvements Recent capital improvements including replacement of roof, exterior repaint (2015) and new HVAC units (2017). Single storey concrete block building with a flat torch-on roof. Town Centre Mall 02

3 BC Salvation Army Units 1, 2 & 3 (8,504 SF) Lease Term to July 2027 Vietnam Cuisine Unit 4 (1,533 SF) Hospital Auxilliary Unit 5 (6,650 SF) Lease Term to Nov Available Unit 6 (3,696 SF) Sporting Goods (Potesta) Unit 7 (1,535 SF) Unit 8 (2,142 SF) Unit 9 (3,000 SF) Lease Term to Aug

4 JOYCE AVENUE ONTARIO AVENUE BC ABBOTSFORD STREET 3 2 ALBERNI STREET 1 Gibsons BARNET STREET 2017 Estimates & Projections 3 KM Population ,583 Households 4,215 8,109 Average Household Income $58,422 $64, Subject Site 2. Easement Area 3. Pharmasave 4. Rona 5. BC Liquor Stores 6. Canadian Tire 7. Staples, Dollarama, Mark s 8. Walmart 9. CIBC 10. Town Centre Mall 11. A&W 12. Tim Hortons 13. Town Centre 14. RBC 15. Starbucks 16. Shoppers Drug Mart 17. Save on Foods 04

5 Form Real Estate Advisors Seymour Street Vancouver, BC V6B 5A6 T F All communications and inquiries related to this opportunity, or requests for additional information or requests regarding procedures, must be made to the Form Retail Advisors Inc. agents named on the first page. No personnel of the Vendor or any of its affiliates should be contacted directly under any circumstance. Disclaimer: None of the Vendor, its affiliates, Form Real Estate Advisors Inc. or any of their respective representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document, and interested parties should conduct their own independent analysis of the information contained or referred to herein. Nothing contained in this document is, or should be relied on as, a promise or representation, whether as to the past or the future. The Vendor, its affiliates, Form Real Estate Advisors Inc. and their respective representatives are under no obligation to accept any offer made by any person or entity regarding this opportunity.