Altea Active, Winnipeg_Property for Sale

100 South Town Road, Winnipeg, MB, R3Y 1G5, CA

Altea Active, Winnipeg

Asset description

JLL’s National Retail Investment Group and Capital Commercial Investment Services, (collectively the “Advisor”), are pleased to present the opportunity to acquire 100 South Town Road in Winnipeg, MB (the “Property”, and/or the “Offering”). The Offering consists of a 100% freehold interest in a newly developed 79,677 SF state-of the art fitness facility which will be fully leased to Altea Active Club Inc. (“Altea”, “Altea Winnipeg” and/or the “Tenant”) situated on 5.84 acres of land on a 30-year lease term.

Altea is a state-of-the-art fitness facility located prominently at the centre of Bridgwater Town Centre, a thriving community hub within Winnipeg’s fastest growing residential community. The facility’s highly visible location and distinguishable architecture makes it a focal point, surrounded by affluent and well-established residential developments with a strong and stable existing base of over 10,000 members.

Designed to redefine the fitness experience, Altea is the premiere health and wellness offering in Winnipeg, offering a comprehensive range of services and amenities, including cutting-edge gym equipment, boutique fitness classes, and innovative wellness programs. The expansive complex features specialized amenities such as boutique studios, dedicated yoga and spin rooms, a luxurious aquatic center, and designated areas for strength training and family fitness.

Interested parties will be required to execute and submit the Confidentiality Agreement (CA link below) prior to receiving detailed information about the Property:

https://hello.jll.com/AlteaActiveWinnipegMB

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Attributes

Building area net

7,402 sm

Occupancy

100%

Year built

2018

Media

Investment highlights

Best-In-Class Fitness Facility:

Altea developed this facility to offer a best-in-class fitness experience to its membership. With spectacular architecture, unique program offerings and building amenities, this facility is unmatched in the Winnipeg market.

Superior Tenant Covenant:

Altea operates five facilities across Canada with clubs in Vancouver, Toronto, Winnipeg and now Ottawa. The existing facilities are forecast to have a total of nearly 34,000 members in 2025 and total revenue of approximately $75 million.

Strategic Location:

Altea’s Winnipeg location is in the heart of Bridgwater Town Centre and on Kenaston Boulevard, providing the facility with excellent exposure and places it near Winnipeg’s fastest growing residential community with over 51,600 residents living within a 3 km radius.

Single Tenant Net Leased Investment:

This 30-year sale-leaseback offering provides investors with long-term stable cash flow and contractual rent increases while the net leased structure will provide predictable returns.

Easily Accessible:

The site is highly visible with 1,240 feet of frontage along Kenaston Boulevard, allowing north and south bound traffic access with the benefit of light controlled intersections.

Ample Parking:

The 5.84 acre site includes 421 surface parking stalls, providing the Property with over 5 stalls per 1,000 square feet of rentable area.