2320 Kingsway - Form Real Estate Advisors
FOR SALE
FOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC ANCHORED BY:
treet imo S
Nana PD)
97 V
(19,2
SUBJECT PROPERTY
ay
sw
ng Ki
2310 Kingsway Available through separate offering
5 87
2, (3 D VP )
JON BUCKLEY* 604 630 0215 [email protected] FORM RETAIL ADVISORS INC.
CURTIS LEONHARDT* 604 638 1999 [email protected]
*Personal Real Estate Corporation
FOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
OPPORTUNITY
INVESTMENT HIGHLIGHTS
LOCATION OVERVIEW
The Vendor has exclusively retained Form Retail Advisors Inc. (the “Agent”) to facilitate the sale of its 100% freehold interest in 2320 Kingsway (the “Subject Property”) located in Vancouver, BC.
•
Recently constructed air space parcel
•
•
Subject Property secured by national anchors, Shoppers Drug Mart and Royal Bank of Canada
Located within a new mixed-use development with 335 residential suites above
•
Situated at the high-profile, fully-signalized intersection of Kingsway and Nanaimo Street within the Norquay Village Neighbourhood Centre
•
Excellent exposure along the Kingsway Corridor seeing 32,875 VPD
•
Central location to Downtown Vancouver, Metrotown Mall, nearby schools, retail services and amenities, and two SkyTrain stations
•
Rapid residential and mixed-use development along Kingsway has spurred phenomenal growth in the area
•
Significant increase in commercial and community activity is anticipated near the 2400 Motel redevelopment site, adjacent to the Subject Property
The Subject Property is an excellent investment opportunity featuring 19,751 square feet of retail space along one of Vancouver's busiest arterials and leased to national tenants on a long-term basis. The Subject Property may also be purchased as a package together with the adjacent air space parcel, 2310 Kingsway, Vancouver, BC.
•
Shoppers Drug Mart's lease expires in September 2028, and RBC's lease expires November 2023
•
150+ parking stalls to complement the commercial space with potential to generate future revenue
•
Eldorado Liquor Store on-site creates excellent draw to the property, and is one of only two private liquor stores located along Kingsway
•
Rare investment offering in the Metro Vancouver market characterized by tight supply and strong demand for high-quality commercial real estate assets
Please click here to access the brochure for 2310 Kingsway.
THE ELDORADO
335 152
RESIDENTIAL UNITS ABOVE
FORM RETAIL ADVISORS INC.
naim
sw
ay
(3
2,
87
5
VP
D)
SUBJECT PROPERTY
ng
26,678
SF OF COMMERCIAL SPACE
Na
Ki
COMMERCIAL PARKING STALLS
2310 Kingsway
oS tre et
(19
,29
7V
PD
)
FOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
OVERALL PROJECT DETAILS MUNICIPAL ADDRESS
2310-2372 Kingsway, Vancouver, BC
LOCATION
Southeast corner at Kingsway and Nanaimo Street
YEAR BUILT
2013 - Wall Group of Companies •
ACCESS/EGRESS
•
All directional access on Kingsway Right in/right out on Nanaimo heading north
TRAFFIC COUNTS
• •
PARKING
152 stalls dedicated to commercial retail
ZONING
CD - 1 (487)
FINANCING
Available Clear Title
32,875 VPD along Kingsway 19,297 VPD along Nanaimo
TENANT OVERVIEW Shoppers Drug Mart is a leading Canadian retail pharmacy and personal care chain of 1,259 stores operating in nine provinces and two territories. As a wholly-owned subsidiary of Loblaw Companies Limited, Shoppers Drug Mart is known for its large format style and convenient store locations which provides a broad range of products and services in health, beauty and convenience. Royal Bank of Canada (RBC) is a multi-national financial services provider and the largest bank in Canada based on annual revenues and market capitalization. RBC is also recognized globally: the company was ranked 50th in the 2013 Forbes Global 2000 listing. In Canada, RBC serves approximately ten million clients through its network of 1,209 branches, and 16 million clients worldwide operating in 38 countries.
2320 KINGSWAY 029-022-177
LEGAL DESCRIPTION
Block 11 District Lot 393 Group 2 New Westminster District Air Space Plan EPP25967
NET RENTABLE AREA
19,751 SF
CURRENT TENANTS
• •
STABILIZED NOI
Year 1: $667,338 Year 2: $689,043
ASKING SALE PRICE
$19,500,000
FORM RETAIL ADVISORS INC.
Shoppers Drug Mart Royal Bank of Canada
Kingsway
PID
Vacant 643 SF
SALE FORFOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC ANCHORED BY: 2310 Kingsway Available through separate offering
Kingsway (32,875 VPD)
Eldorado Mews
P
mo
nai
Na e Str 297
19,
et (
SUBJECT PROPERTY
D)
VP
1 KM
3 KM
10 MIN DRIVE
Population
22,793
186,102
365,761
Households
7,331
64,110
139,659
Average Household Income
$84,023
$82,800
$81,420
% Pop. Change (2011-2016)
6.9%
4.2%
5.2%
Projected % Pop. Change (2016-2021)
7.4%
4.0%
5.4%
2017 ESTIMATES & PROJECTIONS
FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREET VANCOUVER, BC V6B 5A6 T 604 638 2121 F 604 638 2122 FORM.CA The information contained herein has been prepared by Form Retail Advisors Inc. for advertising and general information only. Form Retail Advisors Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Form Retail Advisors Inc. excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all FORM RETAIL INC. liability for loss andADVISORS damages arising there from. This communication is not intended to cause or induce breach of an existing listing agreement.
FOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC ANCHORED BY:
treet imo S
Nana PD)
97 V
(19,2
SUBJECT PROPERTY
ay
sw
ng Ki
2310 Kingsway Available through separate offering
5 87
2, (3 D VP )
JON BUCKLEY* 604 630 0215 [email protected] FORM RETAIL ADVISORS INC.
CURTIS LEONHARDT* 604 638 1999 [email protected]
*Personal Real Estate Corporation
FOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
OPPORTUNITY
INVESTMENT HIGHLIGHTS
LOCATION OVERVIEW
The Vendor has exclusively retained Form Retail Advisors Inc. (the “Agent”) to facilitate the sale of its 100% freehold interest in 2320 Kingsway (the “Subject Property”) located in Vancouver, BC.
•
Recently constructed air space parcel
•
•
Subject Property secured by national anchors, Shoppers Drug Mart and Royal Bank of Canada
Located within a new mixed-use development with 335 residential suites above
•
Situated at the high-profile, fully-signalized intersection of Kingsway and Nanaimo Street within the Norquay Village Neighbourhood Centre
•
Excellent exposure along the Kingsway Corridor seeing 32,875 VPD
•
Central location to Downtown Vancouver, Metrotown Mall, nearby schools, retail services and amenities, and two SkyTrain stations
•
Rapid residential and mixed-use development along Kingsway has spurred phenomenal growth in the area
•
Significant increase in commercial and community activity is anticipated near the 2400 Motel redevelopment site, adjacent to the Subject Property
The Subject Property is an excellent investment opportunity featuring 19,751 square feet of retail space along one of Vancouver's busiest arterials and leased to national tenants on a long-term basis. The Subject Property may also be purchased as a package together with the adjacent air space parcel, 2310 Kingsway, Vancouver, BC.
•
Shoppers Drug Mart's lease expires in September 2028, and RBC's lease expires November 2023
•
150+ parking stalls to complement the commercial space with potential to generate future revenue
•
Eldorado Liquor Store on-site creates excellent draw to the property, and is one of only two private liquor stores located along Kingsway
•
Rare investment offering in the Metro Vancouver market characterized by tight supply and strong demand for high-quality commercial real estate assets
Please click here to access the brochure for 2310 Kingsway.
THE ELDORADO
335 152
RESIDENTIAL UNITS ABOVE
FORM RETAIL ADVISORS INC.
naim
sw
ay
(3
2,
87
5
VP
D)
SUBJECT PROPERTY
ng
26,678
SF OF COMMERCIAL SPACE
Na
Ki
COMMERCIAL PARKING STALLS
2310 Kingsway
oS tre et
(19
,29
7V
PD
)
FOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
OVERALL PROJECT DETAILS MUNICIPAL ADDRESS
2310-2372 Kingsway, Vancouver, BC
LOCATION
Southeast corner at Kingsway and Nanaimo Street
YEAR BUILT
2013 - Wall Group of Companies •
ACCESS/EGRESS
•
All directional access on Kingsway Right in/right out on Nanaimo heading north
TRAFFIC COUNTS
• •
PARKING
152 stalls dedicated to commercial retail
ZONING
CD - 1 (487)
FINANCING
Available Clear Title
32,875 VPD along Kingsway 19,297 VPD along Nanaimo
TENANT OVERVIEW Shoppers Drug Mart is a leading Canadian retail pharmacy and personal care chain of 1,259 stores operating in nine provinces and two territories. As a wholly-owned subsidiary of Loblaw Companies Limited, Shoppers Drug Mart is known for its large format style and convenient store locations which provides a broad range of products and services in health, beauty and convenience. Royal Bank of Canada (RBC) is a multi-national financial services provider and the largest bank in Canada based on annual revenues and market capitalization. RBC is also recognized globally: the company was ranked 50th in the 2013 Forbes Global 2000 listing. In Canada, RBC serves approximately ten million clients through its network of 1,209 branches, and 16 million clients worldwide operating in 38 countries.
2320 KINGSWAY 029-022-177
LEGAL DESCRIPTION
Block 11 District Lot 393 Group 2 New Westminster District Air Space Plan EPP25967
NET RENTABLE AREA
19,751 SF
CURRENT TENANTS
• •
STABILIZED NOI
Year 1: $667,338 Year 2: $689,043
ASKING SALE PRICE
$19,500,000
FORM RETAIL ADVISORS INC.
Shoppers Drug Mart Royal Bank of Canada
Kingsway
PID
Vacant 643 SF
SALE FORFOR SALE
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC
HIGH-PROFILE RETAIL INVESTMENT OPPORTUNITY 2320 KINGSWAY | VANCOUVER, BC ANCHORED BY: 2310 Kingsway Available through separate offering
Kingsway (32,875 VPD)
Eldorado Mews
P
mo
nai
Na e Str 297
19,
et (
SUBJECT PROPERTY
D)
VP
1 KM
3 KM
10 MIN DRIVE
Population
22,793
186,102
365,761
Households
7,331
64,110
139,659
Average Household Income
$84,023
$82,800
$81,420
% Pop. Change (2011-2016)
6.9%
4.2%
5.2%
Projected % Pop. Change (2016-2021)
7.4%
4.0%
5.4%
2017 ESTIMATES & PROJECTIONS
FORM RETAIL ADVISORS INC. 1280-333 SEYMOUR STREET VANCOUVER, BC V6B 5A6 T 604 638 2121 F 604 638 2122 FORM.CA The information contained herein has been prepared by Form Retail Advisors Inc. for advertising and general information only. Form Retail Advisors Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Form Retail Advisors Inc. excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all FORM RETAIL INC. liability for loss andADVISORS damages arising there from. This communication is not intended to cause or induce breach of an existing listing agreement.
