24 Ovens Avenue, New Westminster

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) is pleased to present the opportunity to acquire a 100% freehold interest in 24 Ovens Avenue, New Westminster (the “Property”), a centrally located lastmile distribution facility fully tenanted by the Canada Post Corporation with a 3.1 year WALT. The Property benefits from its highly functional warehouse design and offers near term optionality for owner-user possession upon lease expiry or an on-going investment as a single-tenant asset.

The Property consists of a 24,956 sf warehouse facility situated on a 1.11-acre (48,312 sf) parcel in New Westminster’s Glenbrooke North neighbourhood. This highly functional rectangular building offers 23’ 6” clear ceiling heights across the majority of area while configuring office and employee locker facilities on the mezzanine level. The Property features 74 parking stalls and 2 dock loading doors within a gated compound on the west portion of the parcel, currently operating as a staging area for last-mile delivery operations. Current CS-1 zoning allows for a range of retail, warehouse, and office uses that offer flexibility in future utilization.

Positioned near the New Westminster and Burnaby border, 24 Ovens Avenue offers convenient access to McBride Boulevard, which connects directly to the new Pattullo Bridge expected to be completed in late 2025. The location benefits from proximity to key amenities including the Justice Institute of BC New Westminster campus, Queens Park, the newly constructed təməsew’txw Aquatic and Community Centre (completed in 2024), and Royal Square Mall, featuring retailers such as Safeway, BC Liquor Store, Willowbrae Academy, and Starbucks.

Furthermore, 24 Ovens Avenue represents a rarely available residential development opportunity of scale, designated as Residential – Low Rise (RLR) under the City of New Westminster’s new draft 2050 Official Community Plan (“OCP”). With development permissions for buildings up to six (6) storeys, 24 Ovens Avenue represents a unique opportunity for potential purchasers to capitalize on the Property’s scale and strategic location.