Description

JLL’s National Retail Investment Group (“JLL” and/or the “Advisor”) is pleased to offer for sale a 100% freehold interest in 2 Beckwith Street North (the “Property”), a freestanding pharmacy situated on a 0.19 acre corner lot in Smiths Falls, Ontario. Comprised of 8,400 SF, the site is fully occupied by Rexall, a proven ‘AAA’ covenant that has recently executed a 5-year lease extension, which commences in 2029, with no renewal options remaining upon its expiry.

Rexall is one of Canada’s top pharmacy retailers, operating nearly 400 locations nationwide. In 2024, Rexall Pharmacy Group was acquired by Birch Hill Equity Partners, a leading Canadian mid-market private equity firm managing $5 billion in capital. Birch Hill’s strong track record with community-focused brands, Canadian market expertise, long-term investment approach, and commitment to growth make it an ideal partner for supporting Rexall’s future success.

The Property is located in the heart of Smiths Falls, within the town’s downtown core and approximately 100 metres north of the Rideau River. The location offers exceptional accessibility and visibility situated along Beckwith Street North (Highway 15), the town’s primary north south thoroughfare. The site is in close proximity to established and growing residential neighbourhoods with over 14,000 residents living within a 3 km radius.

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Attributes

Building area net

8,400 sf

Occupancy

100%

Year built

1999

Units

8,400

Media

Investment highlights

Strong Financials
Comprised of 8,400 SF, the site is fully occupied by Rexall, a proven ‘AAA’ covenant that has recently executed a 5-year lease extension, which commences in 2029, with no renewal options remaining upon its expiry.
Best-in-Class Covenant
Rexall is a leading pharmacy and drugstore operator with a dynamic history of innovation, dedicated to caring for Canadians’ health. The privately held company operates nearly 400 locations across the country with over 8,000 employees.
Strategically Located
The Property is located in the heart of Smiths Falls, within the town’s downtown core and approximately 100 metres north of the Rideau River. The location offers exceptional accessibility and visibility situated along Beckwith Street North (Highway 15), the town’s primary north south thoroughfare.
Appealing Demographic
With over 14,000 residents living within a 3 km radius and 16,500 within a 5 km radius, the Property draws from a sizable and rapidly growing local population, driving consistent consumer demand.
Passive Investment Profile
The Property provides investors with a mostly-hands-off ownership experience, as the tenant handles day-to-day operations and property maintenance. This streamlined arrangement minimizes landlord management requirements while delivering stable rental income.
Attractive Existing Financing
The Property offers investors the opportunity to assume attractive existing debt financing.