Various locations

Otis Rexall Portfolio

Description

JLL’s National Retail Investment Group has been exclusively retained to seek offers to acquire a collection of two single tenant Rexall assets and one Rexall-anchored retail plaza (collectively, the “Properties” and/or the “Portfolio”) on a portfolio or individual basis.

The Portfolio consists of three assets with a combined leasable area of 39,248 SF. Two of the properties are fully leased to Rexall, a well-established ‘AAA’ covenant tenant. The third asset, Victoria Centre, is a retail plaza anchored by Rexall and is fully occupied, with national tenancies representing 95.1% of leased GLA. Rexall is one of Canada’s top pharmacy retailers, operating nearly 400 locations nationwide. In 2024, Rexall Pharmacy Group was acquired by Birch Hill Equity Partners, a leading Canadian mid-market private equity firm managing $5 billion in capital. Birch Hill’s strong track record with community-focused brands, Canadian market expertise, long-term investment approach, and commitment to growth make it an ideal partner for supporting Rexall’s future success.

This Portfolio offers Buyers secure and increasing future cash flows with an excellent weighted average lease term of 8.0 years. The three assets in this Ontario-based Portfolio include: 1-11 Main Street, Brighton; 22 Baskin Drive, Arnprior; and Victoria Centre at 1011 Victoria Street, Petawawa.

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, affluent markets throughout Ontario, where they draw

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Attributes

Building area net

3,646 m²

Occupancy

100%

WAULT

8 years

Otis Rexall Portfolio (3 Properties)

Media

Investment Highlights

Best-in-Class Covenant

Rexall is a leading pharmacy and drugstore operator with a dynamic history of innovation, dedicated to caring for Canadians’ health. The privately held company operates nearly 400 locations across the country with over 8,000 employees.

Strong Financials

The Portfolio is currently 100% occupied with a healthy weighted average lease term of 8.0 years, providing prospective investors with a secure income stream over the investment holding period.

Well-Designed Assets

The Properties are well-designed with ample parking, premium visibility and multiple access points. All three Properties within the Portfolio are “Daily Needs Retail” and serve as frequent destinations for residents of the surrounding communities.

Strategically Located

All three assets are located along main thoroughfares within their respective towns, providing exceptional accessibility and connectivity to the surrounding regions.

Attractive Existing Financing

The offering, as a portfolio, offers investors the opportunity to assume attractive existing debt financing.