7700 Markham Rd, Markham, ON, L3S 4S1, CA

Armadale Square

Asset description

JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in Armadale Square (the “Property”), a grocery and pharmacy anchored retail centre located directly south of the Markham Road and Highway 407 interchange, in Markham, Ontario. Featuring 142,703 SF on a substantial 11.7 acre site, the Property presents investors with the opportunity to acquire a sizeable Class A asset in York Region’s largest city, and Canada’s most ethnically diverse community.

The Property is currently fully leased to a diverse mix of needs-based and service-oriented tenancies, anchored by Sunny Foodmart (Metro assignment covenant), Shoppers Drug Mart, Winners, Mark’s, TD Canada Trust, and McDonald’s. Collectively, national/regional tenants represent 87% of leased GLA. The Property offer the investor secure and increasing future cashflow with a weighted average lease term of 3.5 years.

Armadale Square benefits from excellent exposure along Markham Road (Highway 68), featuring over 1,200 feet of frontage and shared access with its two adjacent neighbours – a Bulk Barn anchored plaza to the north, and Canadian Tire to the south. The site is surrounded by established residential neighbourhoods with over 220,000 residents living within a 5 km radius of the site, which is forecast to grow by more than 5% over the next 5 years.

Interested parties will be required to execute and submit the Confidentiality Agreement (CA) prior to receiving detailed information about the Property: https://hello.jll.com/ArmadaleSquareMarkhamON

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Attributes

Building area net

142,703 sf

Occupancy

100%

Year built

2002

WAULT

3.5 years

Media

Investment highlights

Investment Highlights

Carefully Curated Tenant Mix

The Property is fully leased by a strong roster of national and regional tenants including Sunny Foodmart (Metro assignment covenant), Shoppers Drug Mart, Winners, McDonald’s, and TD Canada Trust.

Premier Accessibility

Armadale Square is situated along Markham Road (Highway 68), one of the City’s primary north/south thoroughfares. The Property is less than 1 km south of Highway 407 and offers exceptional accessibility, both for private vehicles and public transit users with Viva Transit servicing the site.

Strategic Location

Situated on an expansive 11.7 acre lot in York Region’s largest city, the Property is surrounded by some of the country’s top national retailers, drawing consumers from across the region.

Exceptional Demographics

The Property is surrounded by densely populated residential neighbourhoods with over 220,000 residents living within a 5 km radius. This affluent population has an average household income of $139,235.

Dynamic Urban Area

Markham is Canada’s most ethnically diverse community, and one of Ontario’s most rapidly expanding municipalities. The region is expected to experience a 35% population surge over the next 16 years, accompanied by ongoing development, including in the immediate area.

Strong Financials

Comprised of 142,703 SF, the Property is 100% leased and boasts a WALT of 3.5 years with national and regional tenants representing 87% of GLA.