Prime Retail_Property for Sale
Prime Retail_Property for Sale
Calgary, Cochrane & Lethbridge

Prime Retail

Portfolio description

Jones Lang LaSalle Real Estate Services, Inc. (“JLL” and/or the “Advisor”) is pleased to offer for sale a 100% freehold interest in a portfolio comprised of four retail properties (collectively, the “Properties” or “Portfolio”; individually, the “Property”), located in Calgary, Cochrane, and Lethbridge, Alberta.


Under a flexible offering structure, investors have the opportunity to acquire the Properties on a single or multi-asset basis, or in its entirety as a Portfolio.


The Portfolio comprises over 174,358 square feet (“SF”) of Class ‘A’ quality space with property sizing of 21,988 SF to 66,427 SF that is currently 97.6% occupied by a strong and diversified tenant roster ranging from national covenants to well-established local businesses. The average rent in-place is collectively $28.64 PSF (“Per Square Feet”) with contractual annual escalations throughout the term. With a weighted average lease term (“W.A.L.T”) of approximately 4.39 years, the Portfolio provides stable income and growth. This is a rare opportunity to acquire a Portfolio of scale in high traffic retail nodes predominantly surrounded by grocery anchors in three attractive and growing population centres in southern Alberta.

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Attributes

Building area net
16,198 m²
Land area gross
5.86 ha
Tenants
56
Parking spaces
714
WALT
4.39 years
Occupancy
97.6%
Prime Retail (4 Properties)
Prime Retail (4 Properties)

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Investment Highlights

  • Strong and diversified tenant roster with 65,316 SF & 37.0% of the GLA occupied by national and western Canadian brands. Key tenants include CIBC, Service Canada, Mayfair Diagnotics, 7-Eleven Convenience Store, Mr. Lube, Party City, Montana's, Dollar Tree, and Cobs Bread.


  • A W.A.L.T of approximately 4.39 years, ensuring stable and secure cash flow with income growth due to contractual rent escalations. 


  • Geographic diversity in three of Southern Alberta’s major markets: Calgary, Cochrane, and Lethbridge.


  • Average year of construction for the Portfolio is 2016, offering new generation retail with minimal anticipated capital expenditures over the holding period. 


  • The Properties are situated in dominant retail nodes in their respective markets.
Prime Retail 4_Property for Sale
Prime Retail 4_Property for Sale

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Last updated
4 Jul 2024