ABBOTSFORD INVESTMENT PORTFOLIO
Partnership. Performance. Union Avenue
Janzen Street
So
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se r Fra
y Wa
FOR SALE Abbotsford Portfolio Opportunity – First Time on the Market 1. 100% Leased Retail Building 2. RML Zoned Development Land 3. 62 Unit Rental Apartment Building Opportunity to offer on the entire portfolio or on an individual basis. Rob Greer*, Principal 604.647.5084 [email protected] *Personal Real Estate Corporation
Bill Elliott, Principal 604.647.5062 [email protected]
Amanda Payne, Senior Analyst 604.646.8389 [email protected]
Leeanna Petrik, Associate 604.647.5087 [email protected]
ABBOTSFORD INVESTMENT PORTFOLIO
ABBOTSFORD INVESTMENT PORTFOLIO
31790 UNION AVENUE, 2524/2536 JANZEN STREET & 31789 SOUTH FRASER WAY ABBOTSFORD, BC
Location The subject portfolio is situated in the Townline/Clearbrook neighbourhood of Abbotsford, BC. It is conveniently located along South Fraser Way, just minutes from the Trans Canada Highway offramp, Clearbrook Shopping District and Abbotsford’s newest shopping centre, High Street Mall.
Opportunity 99 First time on the market
99 All properties will be provided clear title
99 Acquire the entire portfolio or select individual sites
99 Capitalize on historically low interest rate environment
99 Environmental Phase 1 completed
Portfolio Highlights
Huron Court 31790 Union Avenue • • •
62 unit multi-family property Below market vacancy Well maintained building
•
No significant capital expenditures required Value add opportunity Professionally managed
• •
2524/2536 Janzen Street • • • •
31789 South Fraser Way
Well located off of a main thoroughfare (South Fraser Way) RML zoned development land 1.7 FSR Holding Income
• • • • •
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Clearbrook Road
So
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0% vacancy Strong Covenant Tenant in place Well positioned with excellent visibility Well maintained, newly painted building Ample parking
Portfolio Offering
Huron Court 31790 Union Avenue PID
2524/2536 Janzen Street Development Land
005-677-513
Site Area
52,272 sf
OCP Classification
City Residential
Zoning
RML
Unit Mix
1-Bdrm
40
2-Bdrm
22
Total
62
PID
006-716-270
Site Area
51,923 sf
OCP Classification
City Residential
Zoning
RML
Permitted Use Allowable Density
31789 South Fraser Way Retail
Apartment & Congregate Apartment Use Max Floor Space Ratio (FSR): 1.4 FSR, may be increased to 1.7 FSR
Leasable Area
43,960 sf
Allowable Height
70 ft or 6 storeys
NOI Projection
$336,277
Lot Coverage
40% may be increased to 45%
Cap Rate
4.42%
Gross 88,269 sf Buildable Area
Price
$7,600,000
Price
$1,200,000
Price Per Door
$122,580/door
Price Per Acre
$1,008,403/acre
PID
006-716-156
Site Area
31,537 sf
OCP Classification
Commercial
Zoning
C4 (Service Commercial)
Leasable Area
10,510 sf
NOI Projection
$123,303
Cap Rate
4.4%
Price
$2,800,000
Price Per Sf
$266/sf
Total Purchase Price: $11,600,000
Demographic Snapshot
Abbotsford Multi-Family Market
Total Population
The average apartment vacancy Rate in the Abbotsford-Mission CMA was stable at 3.1% - the lowest it’s been since 2008.
Abbotsford (CY)
2011 Census*
137,686
2013 estimated
142,881
Demand is keeping pace with New Supply. Demand for rental accommodation was up in 2014 compared to last year – supported by an increase in the population.
2016 projected
149,631
Source: CMHC, Vancouver-Abbotsford Fall 2014 Rental Market Report
2018 projected
154,133
2023 projected
167,551
Avg. Household Income
Abbotsford (CY)
2013 estimated
$84,904
2016 projected
$94,548
2018 projected
$101,016
Source: PCensus
Apartment Rental Statistics Townline / Clearbrook Rental Market Stats Bachelor
1 bed
2 bed
3 bed
Total
Vacancy Rate
2.90%
3.10%
2.60%
4.80%
2.80%
Average Rent
$608
$707
$838
$974
$778
# of Units
34
752
941
21
1748
Source: CMHC; Rental Market Survey
Legacy Sports Centre
Colleen & Matsqui Gordie Howe Recreational Middle School Centre
Abbotsford City Hall
Old Yale Road
She’s Fit Fitness Club
Subject Properties
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West Oaks Mall Sevenoaks Shopping Centre
Clearbrook Road
Tr a
MacLure Road
M J Mouat Secondary
Ca
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Partnership. Performance. Avison Young Commercial Real Estate Inc. #2100-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
Rob Greer*, Principal 604.647.5084 [email protected] *Personal Real Estate Corporation
Bill Elliott, Principal 604.647.5062 [email protected]
Amanda Payne, Senior Analyst 604.646.8389 [email protected]
Leeanna Petrik, Associate 604.647.5087 [email protected]
avisonyoung.com
© 2015 Avison Young (Canada) Inc. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (BC) Inc.
Janzen Street
So
ut h
se r Fra
y Wa
FOR SALE Abbotsford Portfolio Opportunity – First Time on the Market 1. 100% Leased Retail Building 2. RML Zoned Development Land 3. 62 Unit Rental Apartment Building Opportunity to offer on the entire portfolio or on an individual basis. Rob Greer*, Principal 604.647.5084 [email protected] *Personal Real Estate Corporation
Bill Elliott, Principal 604.647.5062 [email protected]
Amanda Payne, Senior Analyst 604.646.8389 [email protected]
Leeanna Petrik, Associate 604.647.5087 [email protected]
ABBOTSFORD INVESTMENT PORTFOLIO
ABBOTSFORD INVESTMENT PORTFOLIO
31790 UNION AVENUE, 2524/2536 JANZEN STREET & 31789 SOUTH FRASER WAY ABBOTSFORD, BC
Location The subject portfolio is situated in the Townline/Clearbrook neighbourhood of Abbotsford, BC. It is conveniently located along South Fraser Way, just minutes from the Trans Canada Highway offramp, Clearbrook Shopping District and Abbotsford’s newest shopping centre, High Street Mall.
Opportunity 99 First time on the market
99 All properties will be provided clear title
99 Acquire the entire portfolio or select individual sites
99 Capitalize on historically low interest rate environment
99 Environmental Phase 1 completed
Portfolio Highlights
Huron Court 31790 Union Avenue • • •
62 unit multi-family property Below market vacancy Well maintained building
•
No significant capital expenditures required Value add opportunity Professionally managed
• •
2524/2536 Janzen Street • • • •
31789 South Fraser Way
Well located off of a main thoroughfare (South Fraser Way) RML zoned development land 1.7 FSR Holding Income
• • • • •
ut
er
y Wa
Clearbrook Road
So
ras hF
0% vacancy Strong Covenant Tenant in place Well positioned with excellent visibility Well maintained, newly painted building Ample parking
Portfolio Offering
Huron Court 31790 Union Avenue PID
2524/2536 Janzen Street Development Land
005-677-513
Site Area
52,272 sf
OCP Classification
City Residential
Zoning
RML
Unit Mix
1-Bdrm
40
2-Bdrm
22
Total
62
PID
006-716-270
Site Area
51,923 sf
OCP Classification
City Residential
Zoning
RML
Permitted Use Allowable Density
31789 South Fraser Way Retail
Apartment & Congregate Apartment Use Max Floor Space Ratio (FSR): 1.4 FSR, may be increased to 1.7 FSR
Leasable Area
43,960 sf
Allowable Height
70 ft or 6 storeys
NOI Projection
$336,277
Lot Coverage
40% may be increased to 45%
Cap Rate
4.42%
Gross 88,269 sf Buildable Area
Price
$7,600,000
Price
$1,200,000
Price Per Door
$122,580/door
Price Per Acre
$1,008,403/acre
PID
006-716-156
Site Area
31,537 sf
OCP Classification
Commercial
Zoning
C4 (Service Commercial)
Leasable Area
10,510 sf
NOI Projection
$123,303
Cap Rate
4.4%
Price
$2,800,000
Price Per Sf
$266/sf
Total Purchase Price: $11,600,000
Demographic Snapshot
Abbotsford Multi-Family Market
Total Population
The average apartment vacancy Rate in the Abbotsford-Mission CMA was stable at 3.1% - the lowest it’s been since 2008.
Abbotsford (CY)
2011 Census*
137,686
2013 estimated
142,881
Demand is keeping pace with New Supply. Demand for rental accommodation was up in 2014 compared to last year – supported by an increase in the population.
2016 projected
149,631
Source: CMHC, Vancouver-Abbotsford Fall 2014 Rental Market Report
2018 projected
154,133
2023 projected
167,551
Avg. Household Income
Abbotsford (CY)
2013 estimated
$84,904
2016 projected
$94,548
2018 projected
$101,016
Source: PCensus
Apartment Rental Statistics Townline / Clearbrook Rental Market Stats Bachelor
1 bed
2 bed
3 bed
Total
Vacancy Rate
2.90%
3.10%
2.60%
4.80%
2.80%
Average Rent
$608
$707
$838
$974
$778
# of Units
34
752
941
21
1748
Source: CMHC; Rental Market Survey
Legacy Sports Centre
Colleen & Matsqui Gordie Howe Recreational Middle School Centre
Abbotsford City Hall
Old Yale Road
She’s Fit Fitness Club
Subject Properties
ns
S
t ou
ras hF
er
y Wa
West Oaks Mall Sevenoaks Shopping Centre
Clearbrook Road
Tr a
MacLure Road
M J Mouat Secondary
Ca
na
da
Hi
gh
w
ay
Partnership. Performance. Avison Young Commercial Real Estate Inc. #2100-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
Rob Greer*, Principal 604.647.5084 [email protected] *Personal Real Estate Corporation
Bill Elliott, Principal 604.647.5062 [email protected]
Amanda Payne, Senior Analyst 604.646.8389 [email protected]
Leeanna Petrik, Associate 604.647.5087 [email protected]
avisonyoung.com
© 2015 Avison Young (Canada) Inc. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (BC) Inc.
