KENNEDY SQUARE 128th & 88th Avenue, Surrey FOR LEASE 37,780 VPD along 88th High exposure retail Professional offices 66 parking stalls FOR MORE INFORMATION CONTACT WILL HALL STATHIS SAVVIS 604. 545. 0636
WILLIAM WRIGHT PROUDLY PRESENTS OUR CORE VALUES CUSTOMER SERVICE: is the provision of service to customers before, during and after a transaction. KENNEDY SQUARE COMMUNICATION: is the activity of conveying information through the exchange of thoughts, messages, or information. CONSISTENCY: repeating the same task over and over again until it becomes a habit. Defining how we do business everyday I ntroducing Kennedy Square, a mixed-use commercial development comprised of over 29,630 SQFT of prime high exposure retail and professional offices spread out over over three two-level buildings on a 56,081 SQFT site with 66 surface parking stalls. Located on the south-west corner of Surrey's third busiest intersection, the subject property sees over 37,700 vehicle per day along 88th and offers two entry and exit points in and out of the plaza. Strategically situated in the heart of Surrey where there is a plethora of amenities. Situated on 88th Ave/128th Street, the location sees a high traffic count providing exposure to your business. The location also provides easy access to Surrey City Centre, Highway 10, the Alex Fraser Bridge and the Pattullo Bridge. Newton accounts for over 25% of the citys population and is home to a variety of educational, recreational and cultural facilities including The Bell Centre for Performing Arts and the Newton Cultural Centre. The community is also home to Kwantlen Polytechnic University, which currently has an enrolment of over 19,000 students.
According to City of Surrey statistics, the municipality issued more than 2,600 new business licences in 2017. WHY SURREY The City of Surrey is hoping its low municipal tax rate for businesses will continue to attract companies to keep pace with its residential real estate boom. The average company is paying $21,995 annually in Surrey, the second-lowest rate in the Lower Mainland behind Langley City. The average business tax rate across Greater Vancouver sits at $42,902, and Coquitlam has the highest rate ($65,963). According to Fraser Valley Real Estate Board (FVREB) 2017 data, the region sold $15.7 billion worth of real estate, the second-highest year since the area started keeping statistics. One of the companies Surrey recently lured east to set up an office is international law firm Fasken, which has 10 offices on four continents and one in Vancouver. What we re seeing is growth in business in Surrey and in the Fraser Valley and the sophistication of services those companies are offering. The value of building permits exceeded $1.5 billion, the majority of which were in the industrial and institutional building categories. South Surrey had the largest share of the industrial growth in 2017. It accounted for 56% of the building permit values and 66% of the additional floor space in that category. Slightly more than five million square feet of industrial space is under construction in Metro Vancouver, and more than 1.2 million of that is in Surrey. As of 2015, only 2,261 hectares of Metro Vancouver s industrial land is vacant; 38% of that is in Surrey. Source:Biv.com AREA DEMOGRAPHICS POPULATION GROWTH Surrey s 2016 population was 517,887, an overall jump of 10.6% from 2011 when it was 468,251. Surrey is set to maintain a strong growth in coming years. Surrey is the largest city in British Columbia from a geographic perspective. It's population is second to Vancouver but is expected to become the largest city in B.C. with 760,000 residents by 2041. Additionally, while the number of immigrants to British Columbia has been declining since the 1990s, the immigrant population in Surrey has increased by 63.7% between 2001 and 2011, significantly higher than the increase of 23.7% for Metro Vancouver. Estimates and Projections 2016 3 km 5 km 10 km Total Population 26,895 112,941 188,530 $111,089 $108,432 $105,544 7,462 34,209 59,413 Average Household Income Households The demographics for the subject site s primary trade area demonstrate positive trends with residential growth of approximately 8% over the last five years, and an average household income of $111,089 (2016). The area is projected to continue to expand for the foreseeable future with growth rates predicted to be approximately 11% from 2016-2021.
THE SITE» LOCATION HIGHLIGHTS Major intersection of 88th and 128th Street, 37,780 vehicles per day along 88th Avenue Easy access/egress off 128th St and 88th Ave Pylon signage on 88th Avenue Ample surface parking adjacent to premises PROPERTY HIGHLIGHTS 29,270 SQFT development consisting of 3 multi-tenant Retail/office buildings 37,780 vehicles per day along 88th Avenue» 14,453 SQFT available Retail space 14,817 SQFT available Office Space Retail units starting at 792 SQFT
KENNEDY SQUARE Building A is a freestanding building, buildings B & C are separated by an open walkway at the first floor and connected at the second floor. Common lobby, elevator and exit stair. THE DETAILS TOTAL SIZE +/- 29 270.00 SQFT OFFICE SPACE +/- 14,453 SQFT RETAIL SPACE +/- 792 SQFT - 14,817 SQFT ZONING Commercial Retail PARKING 66 Stalls BIKE RACKS 6 in total RETAIL $35/foot OFFICE $20/foot ADDITIONAL RENT TBA DELIVERY Q2 2020 Illustration shown is only the architects rendering of the building upon the completion of exterior construction
RETAIL SPACES UP OFFICE SPACES CORRIDOR BUILDING A DN WOMEN'S WASHROOM FLOOR AREA: RETAIL SPACE 3,981 SQFT OFFICE SPACE 3,994 SQFT TOTAL SQUARE FOOTAGE 7,975.00 SQFT Please ask your Broker for a full breakdown of available sizes BUILDING HEIGHT: FIRST FLOOR (HIGHEST LEVEL) SECOND FLOOR ROOF (HIGHEST PART) PARAPET (HIGHEST PART) 250.00' 263.25' 276.92' 285.92' MEN'S WASHROOM ELECTRICAL ROOM LANDING Illustration shown is only the architects rendering of the building upon the completion of exterior construction *Floorplans are subject to change
RETAIL SPACES OFFICE SPACES BUILDING B STAIR WOMEN'S WASHROOM LOBBY ELEVATOR FLOOR AREA: RETAIL SPACE 5,950 SQFT OFFICE SPACE 5,992 SQFT TOTAL SQUARE FOOTAGE 11,942.00 SQFT Please ask your Broker for a full breakdown of available sizes BUILDING HEIGHT: FIRST FLOOR (HIGHEST LEVEL) SECOND FLOOR ROOF (HIGHEST PART) PARAPET (HIGHEST PART) 247.15' 260.40' 292.07' 285.92' MEN'S WASHROOM Illustration shown is only the architects rendering of the building upon the completion of exterior construction *Floorplans are subject to change
RETAIL SPACES UP OFFICE SPACES BUILDING C WOMEN MEN FLOOR AREA: RETAIL SPACE 4,522 SQFT OFFICE SPACE 4,831 SQFT TOTAL SQUARE FOOTAGE 9,353.00 SQFT Please ask your Broker for a full breakdown of available sizes BUILDING HEIGHT: FIRST FLOOR (HIGHEST LEVEL) SECOND FLOOR ROOF (HIGHEST PART) PARAPET (HIGHEST PART) 242.60' 256.07' 276.92' 269.74' Walkway to Building B ELECTRICAL ROOM CORRIDOR DN Illustration shown is only the architects rendering of the building upon the completion of exterior construction *Floorplans are subject to change
Stathis Savvis BROKER Area of Expertise Commercial Investment Sales and Leasing Office: New Westminster savvi@williamwright.ca 604-897-8974 William Wright Commercial Real Estate Services Inc. 607-625 5th Avenue, New Westminster T 604.545.0636 F 604.545.0637 williamwright.ca Will Hall BROKER Area of Expertise Retail Sales and Leasing, Office Sale and Leasing Office: New Westminster will@williamwright.ca 604-838-8765 New Westminster Office New Westminster Professional Building 607-625 5th Avenue, New Westminster Canada, BC V3M 1X4 604-545-0636 Vancouver Office Mainland Centre Building 123-1020 Mainland Street, Vancouver Canada, BC V6B 2T5 604-428-5255 Langley Office - Coming Spring 2018 Spire Professional Center 8029 199th Street, Langley Canada, BC V2Y 0E2 William Wright Commercial Real Estate Services has prepared this document / email for the sole purposes of advertising & general information. William Wright Commercial Real Estate Services & it s listing clients make no guarantees or warranties of any kind, expressed or implied, regarding the information including but not limited to, warranties of content, accuracy, completeness & reliability, & do not accept or assume any responsibility or liability, consequential or direct for the recipient s reliance upon the information. Any recipient / interested party should undertake their own appropriate & independent due diligence & inquiries as to the accuracy of the information, which is subject to errors, omissions, changes, including price, or withdrawal without notice. Sizes are approximate & based on architectural measurements. William Wright Commercial Real Estate Services and it s listing clients exclude unequivocally all inferred or implied terms, conditions & warranties arising out of this document and exclude all liability for loss & / or damages arising there from. This publication is the copyrighted property of William Right Commercial Real Estate Services & it s listing client. 2017. All rights reserved. E.&O.E