Manulife Grocery Anchored Retail Portfolio - Niagara Region, Hamilton and Greater Montreal

JLL’s National Retail Investment Group is pleased to present the opportunity to acquire a collection of six grocery-anchored retail assets (referred to individually as the “Property” and/or the “Site”, and collectively as the “Portfolio,” the “Offering” and/or the “Properties”), on a portfolio basis.

The Portfolio consists of six Sobeys- anchored centres totaling 655,466 square feet of gross leasable area (“GLA”). Five assets are located in Ontario with the remaining centre situated in Quebec. The Portfolio features a strong roster of 58 tenants where national covenants represent 84.5% of the Portfolio’s occupied GLA. The Portfolio is 92.4% leased with an attractive 4.6 year weighted average lease term, offering quality covenants with medium term income stability.

The Properties are well designed, providing ample parking, premium visibility, and multiple access points. The format of all six properties within the Portfolio is “Daily Needs Retail,” which is intended to serve as a frequent destination for residents of the surrounding communities. Each Property within the Portfolio is anchored by a strong Sobeys-covenant grocer, with select assets offering near-term leasing upside through existing vacancy.

The Properties are strategically located in their respective communities, situated on major arterial thoroughfares providing easy accessibility and high traffic flow. The Portfolio is distributed across well-established and/or growing markets throughout Ontario and Quebec, where they draw from trade areas extending well beyond their local communities.