FOR SALE / LEASE A DIVISION OF KELLER WILLIAMS SELECT REALTY OFFICE UP TO 21,000 SF AVAILABLE FOR LEASE BRIAN WOODS, ABR Real Estate Advisor 902-830-5060 brianwoods@kwcommercial.com TOM GERARD, CCIM, SIOR Real Estate Advisor 902-830-1318 tomgerard@kwcommercial.com KW COMMERCIAL ADVISORS Young Tower, Suite 308 6080 Young Street Halifax, NS B3K 5L2 www.kwcommercialhalifax.com
EXECUTIVE SUMMARY Civic Address. Property Type 211 Horseshoe Lake Drive, Bayers Lake Business Park, Halifax, Nova Scotia 2.5 storey architecturally designed office building PID # 40824468 Age Current Use Building Size Lot Size Parking Premises Breakdown Zoning: Phase 1-1998 Phase 2 2006 Multi tenant office building 52,996 sf of Rentable Area 1,200 sf storage building 3.65 acres Asphalt paved parking for 170 vehicles (3.2 per 1,000 sf of office area) Lower Level- 5,045 sf Main Level- 22,575 sf Second Level- 23,374 sf I-3 Industrial Zone (Halifax Mainland Bylaw) Assessed Value $6,927,200 (Commercial Taxable 2014) List Price Lease Information/Financials Sale: $7,500,000 $141.85 psf Lease: $14.00 psf. Available to interested parties upon execution of a Confidentiality Agreement 2
AREA OVERVIEW 211 Horseshoe Lake Drive is located within the Bayers Lake Business Park in Halifax, Nova Scotia. Bayers Lake Business Park has enjoyed outstanding growth since its inception in the mid-1980s. It's location at the confluence of Highways 102 and 103, its proximity to the rapidly developing Bedford West, Bedford South and Clayton Park residential areas, and short drive to downtown Halifax and port facilities have all contributed to the success of the Bayers Lake Business Park. Over 580 acres (236 hectares) in size, Bayers Lake Business Park represents a major concentration of light industrial and commercial activity in Greater Halifax. In particular, warehouse retail superstores have recognized the value of Bayers Lake Business Park s strategic location, including Costco, Walmart, Kent Building Supplies, Staples, and Future Shop to name a few. However, Bayers Lake Business Park is more than just a retail destination. Major warehousing, trucking, distribution, and manufacturing operations have been established in the Park. Bayers Lake Business Park offers high quality infrastructure combined with comprehensive development standards. The next phase of growth at Bayers Lake will see the relocation from CBD Halifax of 600-800 CRA employees to the Park in 2016 and the proposed development of +/-80 acres to provide new retail opportunities. 3
LOCATION MAP Bayers Lake Business Park 4
IMMEDIATE NEIGHBOURHOOD The subject property is located in the centre of Bayers Lake Business Park on the eastern side of Horseshoe Lake Drive, enjoying 3 different points of ingress/egress to and from the property. Horseshoe Lake Drive is an ideal suburban office setting, a boulevard that leads to the many businesses, shop and restaurants that reside in the Park and is a short walk to the Rails to Trails system and Bayers Lake itself. Metro transit bus stops are located a short walk from the property. 5
AERIAL VIEW 6
BUILDING OVERVIEW Type 2.5 storey multi-tenant office building Total Rentable Area 52,996 square feet of Rentable Area 1,200sf storage building with 14' x 12' grade loading and single man door Utilization Structure Age Exterior walls Elevator Interior walls and ceiling Heating & Cooling Lower level- 5,045 sf Main Level- 22,575 sf Second Level- 23,374 sf Phase 1- Wood frame with steel pan poured concrete floors Phase 2- Steel frame with steel pan poured concrete floors Phase 1-1998 Phase 2-2006 Galvanized steel panel siding Dover fifteen (15) passenger elevator Drywall, suspended t-bar ceiling with acoustic tiles 18 x 1-5 ton capacity "McQuay" A/C units 1 x "EVAPCO" cooling tower 1 x Venmar HRV Unit 2 x NY Thermal boilers w/oil fired Riello burners 7
BUILDING OVERVIEW Electrical System Hot Water Heating Washrooms 600 volt main service entrance (balance TBC by Purchaser) 120/208v 3 phase via back- up generator G5W Series 12 170 litre electric hot water tank 30 gallon One (1) male and one (1) female on Ground Level Two (2) male and two (2) female on Main Level Two (2) male and two (2) female on Second Level Roof Medium pitched with asphalt shingles Sprinkler Lobby/Entrance/ Fire Exits Wet and Dry system throughout with Honeywell Ampitrol BX- 55 alarm panel Lobby at main entrance to building, four (4) internal front & back stairwells, one (1) main level fire exit Water View North side Phase 1 offices enjoy Bayers Lake water view 8
EXTERIOR PHOTOS 9
INTERIOR PHOTOS MAIN LEVEL LOBBY 10
INTERIOR PHOTOS MAIN LEVEL SUITE 101 (LEASED TO SPORTS DIRECT) 11
INTERIOR PHOTOS MAIN LEVEL SUITE 102 (LEASED TO TC MEDIA) 12
INTERIOR PHOTOS SECOND LEVEL PHASE 2 (VACANT) 13
INTERIOR PHOTOS SECOND LEVEL PHASE 2 (VACANT) 14
INTERIOR PHOTOS SECOND LEVEL PHASE 1 (VACANT) 15
INTERIOR PHOTOS LOWER LEVEL PHASE 1 (OCCUPIED BY TC MEDIA) 16
FLOOR PLANS GROUND FLOOR 17
FLOOR PLANS SECOND FLOOR 18
FLOOR PLANS BASEMENT 19
SITE OVERVIEW 211 Horseshoe Lake Drive PID # 41824468 Lot Size Site Improvements 158,994 square feet (3.65 acres) 30' x 40' (1,200sf) storage building with 10' x 14' grade loading overhead door. 18' ceiling height with mezzanine. Common staff barbeque area Asphalt paved parking for 170 vehicles Assessed Value $6,927,200 (Commercial Taxable 2014) 20
SURVEY PLAN 21
LEGAL DESCRIPTION ALL THAT CERTAIN lot situate, lying and being on the eastern side of Chain Lake Drive, Halifax Business Park, Halifax, Nova Scotia; ebing LOT 59A as shown on a plan titled Plan of Survey of LOTS 57-CL-1 and 59A, Consolidation and Subdivision of LOT 57 and Portion of Remainder of BLOCK II, Lands acquired by HALIFAX REGIONAL MUNICIPALITY, Halifax Business Park, Bayers Lake Area, Chain Lake Drive, Halifax, Halifax County, Nova Scotia, certified by Clinton C. Garland, N.S.L.S., dated May 22, 1998, filed in the office of the Director of Engineering Services, Regional Operations, Halifax Regional Municipality as plan File No.98008201; said LOT 59A being more particularly described as follows: BEGINNING at a point on the eastern boundary of Chain Lake Drive where it is intersected by north boundary of Lot 61B-1, as shown on said plan; THENCE Northwesterly along said eastern boundary of Chain Lake Drive, following a curve to the left, having a radius of 205.980 metres and an arc distance of 41.854 metres to a point, being the southwest corner of Lot 57CL-1; THENCE 84 degrees-38-05 E along the south boundary of said Lot 57CL-1, a distance of 113.746 metres to a point on the west boundary of Block B- 1; THENCE S 05 degrees-21-55 W along said west boundary of Block B-1, a distance of 38.100 metres to a point, being the northest corner of said Lot 61B-1; THENCE 84 degrees-38-05 W along said north boundary of Lot 61B-1, a distance of 96.597 metres to the point of BEGINNING. THE above described LOT 59A contains an area of 3,977.5 square metres. BEARINGS are grid, referable to a 3 degree Modified Transverse Mercator projection with central meridian at 64 degrees-30 west longitude. EASEMENTS: ALL that certain lot of land situated on the northeastern side of Chain Lake Drive in Halifax, County of Halifax, Province of Nova Scotia shown as Lot 57CL-1A on a plan Servant, Dunbrack, McKenzie and MacDonald Ltd. Plan No 13-1672-0 of survey of Lots 57CL-1A, Bayers Lake Business Park, Consolidation of Lands Conveyed to Vec Holdings Inc., signed by Michael S. Tanner, N.S.L.S., dated April 8, 2005, approved by the Development Officer for Halifax Regional Municipality June 8, 2005 as filed at the Halifax Registry of Deeds on Plan 82161754. SUBJECT to a Guy Wire Easement identified as Parcel CL-A containing an area of 50 square feet situated over a southwestern portion of the above described Lot 57CL-1A and being mathematically delineated on the above referred to plan. SUBJECT to a Guy Wire Easement identified as Parcel CL-B containing an area of 46 square feet situated over a southwestern portion of the above described Lot 57CL-1A and being mathematically delineated on the above referred to plan. SUBJECT to a Guy Wire Easement identified as Parcel CL-C containing an area of 130 square feet, situated over a southwestern portion of the above described Lot 57CL-1A and being mathematically delineated on the above referred to plan. The parcel originates with an approved plan of subdivision that has been filed under the Registry Act or registered under the Land Registration Act at the Land Registration Office for the registration district of Halifax as plan 82161754. 22
ZONING The subject property is zoned I-3 General Industrial Zone 50A(1) The following uses shall be permitted in any I-3 Zone: (a) any industrial/commercial enterprise, except when the operation of same would cause a nuisance or hazard to the public and except: (i) billboards; (ii) adult entertainment uses; and (iii) amusement centres. (b) a public park. 50A(2) No person shall in any I-3 Zone carry out, or cause or permit to be carried out, any development for any purpose other than one or more of the uses set out in subsection (1). 50A(3) No person shall in any I-3 Zone use or permit to be used any land or building in whole or in part for any purpose other than one or more of the uses set out in subsection (1). REQUIREMENTS 50A(4) No front, side or rear yards are required in an I-3 Zone; however, any development undertaken in an I-3 Zone shall be required to be set back 200 ft. from any lake or watercourse and any use permitted in the I-3 Zone shall be set back a minimum of 30 feet from a collector roadway and 10 feet from all other roadways. SEWER AND WATER 50A(5) Sewage disposal and water services may be provided on site or off site in any manner consistent with the regulations of the Province of Nova Scotia, provided that no on-site sewer and water services shall be permitted on land inside the Development Boundary identified on Map II, Appendix "C" of the Halifax- Dartmouth Metropolitan Regional Development Plan. 23
ZONING ACCESSORY BUILDINGS 50A(6) Notwithstanding the provision of Section 2(a) hereof, an accessory building in the I-3 Zone shall not have a maximum height requirement. SPECIAL PARKING 50A(7) Notwithstanding Section 9(d) where a structure is built on a lot greater than 2 acres: (a) parking shall be provided as follows: (i) office structure - 3 spaces per 1,000 square feet of gross floor area; (ii) retail or service structure - 4 spaces per 1,000 square feet of gross floor area; (iii) restaurant - 8 spaces per 1,000 square feet of gross floor area. Halifax Mainland Land Use By-law Page 77 (b) off street loading and unloading shall be provided at the sides and rear of the building on a collector roadway except where a berm or other similar screening a minimum 5 feet in height is provided between the loading area and the street. (c) driveways, parking areas, and loading and unloading areas shall be maintained with a stable surface. (d) areas not used for parking, driveways, storage or other similar purposes shall be landscaped. SIGNS Previous Section 50A(8)(a and b) Deleted and replaced with the following: 50A(8) Each I-3 use shall be permitted identification signs, which may be illuminated on the building, and one freestanding identification sign which may be illuminated, provided that it is not located within 100 feet of the street line of Highway 102 and Highway 103 between the interchange with Highway 102 and the City of Halifax pumping station at 120 Chain Lake Drive. 24
LIMITING CONDITIONS The information contained in this package was obtained from the owners and other sources deemed reliable. However, no representations, declarations or warranties are given or implied by Cushman & Wakefield Atlantic, or the owner as to its accuracy or completeness and such information should not be relied upon by prospective purchasers without independent investigation and verification. This information package does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require in determining whether or not to purchase the property. The owner and Cushman & Wakefield Atlantic expressly disclaim any and all liability for any errors or omissions in this package or any other oral or written communication transmitted or made available to prospective purchasers. This information package is for information and discussion purposes only and does not constitute an offer to sell or the solicitation of any offer to buy the property. The owner and Cushman & Wakefield Atlantic undertake no obligations to provide the recipient with access to additional information. The owner reserves the right to remove the offering from the market at any time and is under no obligation to respond to or accept any proposal or offer to purchase the property. 25
CONTACT INFORMATION BRIAN WOODS, ABR Real Estate Advisor 902-830-5060 brianwoods@kwcommercial.com TOM GERARD, CCIM, SIOR Real Estate Advisor 902-830-1318 tomgerard@kwcommercial.com KW COMMERCIAL ADVISORS Young Tower, Suite 308 6080 Young Street Halifax, NS B3K 5L2 www.kwcommercialhalifax.com KWcommercialHFX@twitter.com 221 HORSESHOE LAKE DRIVE HALIFAX, NOVA SCOTIA 26