320 Fifth Avenue, Cochrane, AB, T4C 2A6, CA

Cochrane Towne Square

Asset Description

Newly redeveloped retail centre in Cochrane, Alberta. Comprised of approximately 55,000 SF of leasable area within a 201,000 SF site, the Property is fully leased to a diverse mix of needs-based and service orientated tenancies including Winners, PetSmart, Rexall, Popeyes Louisiana Kitchen, BarBurrito, and HearCanada, and shadow anchored by Safeway, Safeway Liquor, TD Canada Trust, and Pet Planet. The Property offers the investor secure and increasing future cashflow with a strong tenant mix and excellent location.

Cochrane Towne Square is situated on a prime corner lot at the intersection of Griffin Road West and Fifth Avenue in the heart of the main retail node in Cochrane, boasting $131,410 average annual household income within a 3km radius. The Site benefits from its location in one of Canada’s fastest-growing communities, with Cochrane’s population growing by 24.5% in the last five years. It serves a trade area of over 1 million people, including the nearby City of Calgary, which is only 20 minutes away.

Cochrane Towne Square is a recent redevelopment of a former Canadian Tire location and is well-designed with ample parking and offers excellent accessibility, with convenient ingress/egress points along both Fifth Avenue and Griffin Road. Its strategic location provides easy access to Highway 22 and Highway 1A, connecting it to the wider region including Calgary (35 km), Banff (110 km), and Edmonton (300 km).

This investment opportunity presents a chance to acquire a newly redeveloped, fully-leased retail centre in a thriving market with strong demographic trends and economic growth potential.

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Attributes

Building area net

5,318 m²

Year built

1998

Land area gross

0 m²

Media

Investment Highlights

STRONG FINANCIALS

The Property offers the investor secure and increasing future cash flow with a healthy weighted average lease term of 8.9 years. 95.5% of GLA is leased by national tenants.

STRATEGIC LOCATION

Situated on a large 4.61 acre corner lot, the Property capitalizes on a dominant market location with premium frontage and visibility along Griffin Road West and Fifth Avenue, in the heart of downtown Cochrane’s retail node.

EXCELLENT ACCESSIBILITY

The Property offers convenient access to Highway 22 and Highway 1A, connecting it to Calgary, Banff, and the wider region, enhancing its appeal to both local and regional shoppers.

GROWING COMMUNITY

Cochrane is one of the fastest-growing communities in Canada, with population growth of 24.5% in the last five years. It is the second-largest town in Alberta and is projected to continue this growth for the foreseeable future.

ESSENTIAL NEEDS TENANT MIX

The Property has been carefully leased to a diverse mix of needs-based and service orientated tenancies. The Property is anchored by national retailers such as Winners, PetSmart and Rexall, with additional draw from shadow anchors like Safeway and TD Canada Trust.