Description

JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in 2950 Carling Avenue (the “Property”), a freestanding single tenant retail building comprised of 10,500 SF situated on 0.82 acres in Ottawa, Ontario. The Property is fully leased to Dollarama, Canada’s leading dollar store operator with over 1,000 locations across the country and a proven track record of delivering consistent value to customers. The Property boasts a healthy remaining lease term of 7.8 years with 2 x 5-year renewal options thereafter.

The Property is situated at the intersection of Carling Avenue and Roseview Avenue in Ottawa’s established west-end retail corridor. Constructed in 2008, the Property accommodates 34 parking stalls and benefits from exceptional visibility along one of Ottawa’s principal east-west arterial thoroughfares. 2950 Carling Avenue is further positioned to benefit from the ongoing westward extension of Ottawa’s O-Train Confederation Line, which will introduce a new LRT station at Pinecrest, approximately 1.5 km south of the Property, with revenue service anticipated in 2027. This transit infrastructure investment is expected to drive meaningful intensification and increased pedestrian traffic along the Carling Avenue corridor throughout the lease term and beyond.

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Attributes

Building area net

10,500 sf

Occupancy

100%

Year built

2008

WAULT

7.8 years

Media

Investment Highlights

Strategic Location - The Property benefits from exceptional visibility and direct frontage on Carling Avenue, one of Ottawa’s most prominent east-west arterial thoroughfares carrying significant daily traffic through the city’s west end.
Proven ‘AAA’ Covenant - 2950 Carling Avenue is 100% leased to Dollarama, Canada’s leading dollar store operator with over 1,000 locations coast to coast and one of the most resilient business models in Canadian retail.
Secure Cash Flow with Built-in Growth - The Property offers investors secure and increasing future cash flow with a healthy remaining lease term of 7.8 years, with contractual rent steps throughout. Notably, a near-term rental escalation in May of 2027.
Strong Retail Node - The site is situated between two concentrated retail nodes, with Bayshore Shopping Centre 1.8 km to the southwest and Carlingwood Shopping Centre 3.3 km to the east (Loblaws, Canadian Tire, CIBC, RBC, Scotiabank).
Future LRT Hub - The Property is set to benefit from the ongoing westward extension of Ottawa’s O-Train Confederation Line, which will introduce a new LRT station at Pinecrest, approximately 1.5 km south of the Property, with revenue service anticipated in 2027.
Appealing Demographic - 2950 Carling Avenue is surrounded by densely populated residential neighbourhoods with nearly 62,000 residents living within a 3 km radius of the site. This affluent population has an average household income exceeding $122,000.