Description

On behalf of our client (the “Vendor”), Jones Lang LaSalle Real Estate Services, Inc. (“JLL” or the “Advisor”) is pleased to present the opportunity to acquire a 100% freehold interest in Twin Atria, a 386,758 SF office asset located at 4999 98 Ave NW, in Edmonton, Alberta (the “Property” or the “Offering”).

The Property presents a compelling opportunity to acquire a well-maintained, institutionally owned office asset at well below replacement cost, while benefiting from meaningful in-place income during the execution of a lease-up strategy. With approximately 133,000 SF of existing vacancy, large contiguous floorplates and abundant parking, Twin Atria offers substantial potential to grow NOI through absorption while remaining one of the few suburban office assets capable of accommodating larger-format tenants. Its strategic location provides additional upside from continued investment and employment growth within Alberta’s Industrial Heartland and the broader energy, construction, engineering, government, and industrial sectors.

The Offering has benefited from exceptional institutional ownership and management and provides tenants with a strong amenity base with two large atriums, ample surface and underground parking as well as proximity to public transport and area amenities.

The Property is being offered to the market unpriced. Offers will be reviewed as they are received. Please contact the Advisor for further information.

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Attributes

Building Area

386,758 SF

Occupancy

65.6%

Land Area

13.71 Acres

Rentable Area

386,758 SF

Year built

1982

Zoning

BE – Business Employment

Tenants

Parking spaces

1,211

WALT

2.9 years

Elevators

Site Coverage

19.1%

Media

Investment Highlights

OPPORTUNITY TO ACQUIRE A HIGH-QUALITY INSTITUTIONALLY MANAGED ASSET ON 13.71 ACRES OF LAND

The Property presents an investor with the opportunity to acquire a well-maintained office asset significantly below today’s replacement cost. The asset has also benefited from a high level of institutional management, with current ownership investing > $3m over the past 5 years. The large, irreplaceable and high exposure land position also provides an investor with the opportunity for further intensification on the site.

SIGNIFICANT VALUE-ADD OPPORTUNITY THROUGH LEASE-UP AND NOI GROWTH

With +/- $2M of current NOI paid by substantial covenant tenants, the Property’s existing vacancy presents substantial upside potential, offering investors a clear path to meaningful NOI growth and value creation. Strategic lease-up of the vacant space and retention of existing tenants provides an immediate opportunity to increase the asset’s W.A.L.T. and drive cash flow growth. This near-term value creation potential, combined with strong market fundamentals, positions the investment for attractive returns through active asset management.

CAPITALIZE ON REEMERGENCE OF THE OFFICE MARKET

The Edmonton office market continues to face headwinds common across North America, yet signs of market stabilization are emerging. Tenant attention is increasingly directed toward suburban product that delivers competitive economics, abundant parking, and superior accessibility for employees. This market dynamic creates opportunity for well positioned suburban assets to attract tenants prioritizing operational efficiency and value over comparable downtown options.

UNIQUELY POSITIONED TO ATTRACT LARGE SCALE TENANTS

With contiguous floorplates averaging 46,107 SF and an abundance of parking, Twin Atria finds itself uniquely suited to accommodate large-scale tenants within the Edmonton office market.

With Canadian energy policy changing and the potential announcement of new natural gas and oil infrastructure projects (LNG facilities, pipelines, expansion of production infrastructure), Twin Atria is incredibly well positioned in close proximity to the Alberta Industrial Heartland to be one of the few office assets capable of accommodating large-scale energy tenants, as well as the construction and engineering firms that support these major industrial projects.