FOR SALE - Form Retail
FOR SALE FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC DOWNTOWN VANCOUVER 12
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BC Liquor Distribution Branch Head Office & Distribution Centre
Renfrew Station
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Rupert Station
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Lougheed
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SUBJECT SITE G
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JON BUCKLEY* 604 630 0215 [email protected] FORM RETAIL ADVISORS INC.
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JOE GENEST*
604 398 4341 [email protected]
*Personal Real Estate Corporation
DAVID MORRIS* 604 638 2123 [email protected]
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FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
PROPERTY HIGHLIGHTS An extremely rare opportunity to acquire a 36,200 SF corner site improved with a highly coveted freestanding, single-tenant drive-thru restaurant, leased on a long-term, carefree and fully net basis to McDonald’s Restaurants of Canada Limited.
The Amazing Brentwood
New Tenant Roster TBA 6,000 residential units, 1.1 M SF retail, 500,000 SF office
LOCATION •
Situated on the northwest corner of Lougheed Highway and Boundary Road, a prominent intersection of two vital traffic corridors within the City of Vancouver
•
Excellent connectivity to surrounding suburbs via Lougheed Highway, Boundary Road, Trans-Canada Highway and Grandview Highway
•
Close proximity to various high profile mixed-use developments including Gilmore Station, The Amazing Brentwood and SOLO District
•
Major businesses in the area include Real Canadian Superstore, Walmart, Canadian Tire, BC Liquor Store & Distribution Centre, Home Depot along with an exciting new roster of tenants slated within Brentwood Town Centre
Brentwood Station Willi
ngd
on A venu
e
The Shops at Gilmore Station
SOLO District
3,500 residential units, 491,000 SF retail, 1.0 M SF office
Gilmore Station
SUBJECT SITE
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•
Carefree, fully net, long-term lease to quality covenant tenant, McDonald’s Restaurants of Canada Limited
•
Highly coveted drive-thru capabilities within the City of Vancouver where drive-thru’s are no longer permitted
•
Desirable I-2 industrial zoning in a market with a diminishing industrial land supply
•
Trophy asset in one of the most secure and sought after real estate markets in the world
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INVESTMENT
1,400 residential units, 150,000 SF retail, 560,000 SF office
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Trans-Canada Highway
FORM RETAIL ADVISORS INC.
FOR SALE
Boundary Road Northbound
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
3600 EAST 4TH AVENUE
Boundary Road Southbound
(Parking lot owned by McCan Franchises Ltd.*)
MUNICIPAL ADDRESS
3695 Lougheed Highway, Vancouver, BC
PID
008-771-057
LEGAL DESCRIPTION
Lot F Block A Section 28 and of the North 1/2 of Section 39 Town of Hastings Suburban Lands Plan 12911
LOCATION
Northwest corner of Lougheed Highway and Boundary Road
SITE SIZE
36,200 SF (0.83 Acres)
SITE DIMENSIONS
Approximately 231 feet of frontage along Lougheed Highway Approximately 150 feet of frontage along Boundary Road
CURRENT IMPROVEMENTS
The Subject Property is currently improved with a freestanding, single-tenant McDonald’s restaurant with drive-thru, constructed circa 1968
BUILDING AREA
8,914 SF (6,616 SF Ground Floor, 2,298 SF Mezzanine)
PARKING
5 stalls (3 regular and 2 handicapped) plus 3 reserved stalls for drive-thru orders on 3695 Lougheed Highway. An additional 73 stalls are provided at the adjacent lands, 3600 East 4th Avenue. The adjacent lands are owned by McCan Franchises Ltd., a corporate affiliate of McDonald’s Restaurants of Canada Limited.
PROPERTY TAXES (2016)
$56,522.61
TRAFFIC COUNTS
38,755 VPD along Lougheed Highway 33,398 VPD along Boundary Road
ZONING
I-2 Light Industrial, which allows for industrial and other uses not generally compatible with residential land uses, but beneficial in providing service employment opportunities in the city.
PERMITTED DENSITY
• •
ENVIRONMENTAL
A Phase I Environmental Site Investigation was completed in October 2012 and concluded that no further investigation was warranted at that time. In March 2016, an update to that report was commissioned and again it was concluded that no further investigation was warranted. Copies of past environmental reports will be made available to qualified purchasers.
FINANCING
Free and clear of debt
NOI
April 1, 2014 - March 31, 2019: $322,945 April 1, 2019 - March 31, 2024: $355,240
SALE PRICE
$14,500,000
3695 LOUGHEED HIGHWAY
*McCan Franchises Ltd. is a subsidary of McDonald’s Restaurants of Canada Limited
FORM RETAIL ADVISORS INC.
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3.00 FSR for Industrial Use Maximum height of 18.3 meters but may be granted an increase to a maximum height of 30.5 meters, with approval from the Director of Planning (or the Development Permit Board)
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC MARKET OVERVIEW The Subject Property is conveniently located on the northwest corner of Lougheed Highway and Boundary Road, the most eastern border of Vancouver. Boundary Road serves as a municipal boundary between Vancouver and Burnaby which lends itself well for the Subject Property to benefit from the initiatives of both municipalities. The Subject Property is situated in an area that is poised to become one of Vancouver’s major employment areas, and is in close proximity to areas of intense residential development in Burnaby.
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Burnaby is now outpacing Vancouver in terms of residential development with over 106 highrise residential buildings with more than 30,000 units proposed or under construction (April 2016). Just east of the Subject Property is SOLO District, The Amazing Brentwood and Gilmore Station, which have plans to accommodate 46 residential towers, ranging from 25 to 65 storeys, over the next 25 years.
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Gilmore Station developed by Onni Group of Companies Currently in the pre-development phase, Gilmore Station is a 12.48 acre transit-oriented mixed-use development with 491,000 SF of retail, 1,000,000 SF of office space for 5,000 jobs, and up to 3,500 residential units spread over 10 towers. The Public Hearing for Phase 1 was conducted May 2016 and is awaiting a second hearing.
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Major Developments in the area include:
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The Amazing Brentwood developed by Shape Properties Currently under construction with Phase 1 projected to be completed in 2018, The Amazing Brentwood is a 28 acre development with 1,100,000 SF of retail, 500,000 SF of office, and 11 residential towers housing 6,000 residential units. Phase 1 featured three residential towers with 1,400 units which sold out in 21 months. SOLO District developed by Appia Development SOLO District is a multi-phased, mixed-use development located east of the Subject Property in Burnaby which upon completion will consist of over 150,000 SF of retail space, 560,000 SF of office space and 1,400 homes. SOLO District is nearing completion in 2017 with retail shops already open including Whole Foods, Shoppers Drug Mart and BC Liquor. Phase 1 is sold out and Phase 2 construction is underway. The Grandview Boundary Mixed Employment Area A 200 acre district bounded by Broadway, Slocan Street, Grandview Highway and Boundary Road, is currently being rezoned by the City of Vancouver to turn it into one of Vancouver’s major employment areas. The City of Vancouver is anticipating an investment of $35.8 Million for infrastructure upgrades to support this higher-density commercial district. It is expected that 19,000 people will be working in this region by 2041. FORM RETAIL ADVISORS INC.
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Lougheed Highway
(38,755 VPD)
SALE FORFOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY | VANCOUVER, BC
Boundary Road
The Amazing Brentwood
New Tenant Roster TBA 6,000 residential units, 1.1 M SF retail, 500,000 SF office
Willing
SUBJECT SITE Rupert Street
nue
don Ave
ay
Lougheed Highw
The Shops at Gilmore Station
3,500 residential units, 491,000 SF retail, 1.0 M SF office
Brentwood Station
SOLO District Gilmore Station Millenium Line
1,400 residential units, 150,000 SF retail, 560,000 SF office
Tr an
sC an
ad
Rupert Station
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 was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors Inc.
FORM RETAIL ADVISORS INC.
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Grandview Highway
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2015 ESTIMATES & PROJECTIONS
3 KM
5 KM
10 MIN DRIVE
116,172
301,200
287,851
% Change Population (2015-2020)
0.79%
3.46%
3.88%
Households
43,395
118,639
113,615
% Change Households (2015-2020)
3.76%
5.93%
6.51%
Average Household Income
$82,687
$76,215
$78,257
% Change Average Household Income (2015-2020)
12.69%
12.49%
12.72%
Population
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC DOWNTOWN VANCOUVER 12
th
Av e
Br oa
nu
e
dw
ay
BC Liquor Distribution Branch Head Office & Distribution Centre
Renfrew Station
Mil
len
ium
Lin
e a
ad
Rupert Station
n Ca s-
Lougheed
an Tr
Highway
SUBJECT SITE G
ra n
dv
ie
w
H
Bou
hw
ay
JON BUCKLEY* 604 630 0215 [email protected] FORM RETAIL ADVISORS INC.
oad ry R
nda
ig
JOE GENEST*
604 398 4341 [email protected]
*Personal Real Estate Corporation
DAVID MORRIS* 604 638 2123 [email protected]
ay
w
gh
Hi
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
PROPERTY HIGHLIGHTS An extremely rare opportunity to acquire a 36,200 SF corner site improved with a highly coveted freestanding, single-tenant drive-thru restaurant, leased on a long-term, carefree and fully net basis to McDonald’s Restaurants of Canada Limited.
The Amazing Brentwood
New Tenant Roster TBA 6,000 residential units, 1.1 M SF retail, 500,000 SF office
LOCATION •
Situated on the northwest corner of Lougheed Highway and Boundary Road, a prominent intersection of two vital traffic corridors within the City of Vancouver
•
Excellent connectivity to surrounding suburbs via Lougheed Highway, Boundary Road, Trans-Canada Highway and Grandview Highway
•
Close proximity to various high profile mixed-use developments including Gilmore Station, The Amazing Brentwood and SOLO District
•
Major businesses in the area include Real Canadian Superstore, Walmart, Canadian Tire, BC Liquor Store & Distribution Centre, Home Depot along with an exciting new roster of tenants slated within Brentwood Town Centre
Brentwood Station Willi
ngd
on A venu
e
The Shops at Gilmore Station
SOLO District
3,500 residential units, 491,000 SF retail, 1.0 M SF office
Gilmore Station
SUBJECT SITE
Lo
•
Carefree, fully net, long-term lease to quality covenant tenant, McDonald’s Restaurants of Canada Limited
•
Highly coveted drive-thru capabilities within the City of Vancouver where drive-thru’s are no longer permitted
•
Desirable I-2 industrial zoning in a market with a diminishing industrial land supply
•
Trophy asset in one of the most secure and sought after real estate markets in the world
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wa
igh
dH
ee
h ug
INVESTMENT
1,400 residential units, 150,000 SF retail, 560,000 SF office
e
m
niu
Bo
un
da
ry
lle Mi
Lin
Ro a
d
Trans-Canada Highway
FORM RETAIL ADVISORS INC.
FOR SALE
Boundary Road Northbound
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
3600 EAST 4TH AVENUE
Boundary Road Southbound
(Parking lot owned by McCan Franchises Ltd.*)
MUNICIPAL ADDRESS
3695 Lougheed Highway, Vancouver, BC
PID
008-771-057
LEGAL DESCRIPTION
Lot F Block A Section 28 and of the North 1/2 of Section 39 Town of Hastings Suburban Lands Plan 12911
LOCATION
Northwest corner of Lougheed Highway and Boundary Road
SITE SIZE
36,200 SF (0.83 Acres)
SITE DIMENSIONS
Approximately 231 feet of frontage along Lougheed Highway Approximately 150 feet of frontage along Boundary Road
CURRENT IMPROVEMENTS
The Subject Property is currently improved with a freestanding, single-tenant McDonald’s restaurant with drive-thru, constructed circa 1968
BUILDING AREA
8,914 SF (6,616 SF Ground Floor, 2,298 SF Mezzanine)
PARKING
5 stalls (3 regular and 2 handicapped) plus 3 reserved stalls for drive-thru orders on 3695 Lougheed Highway. An additional 73 stalls are provided at the adjacent lands, 3600 East 4th Avenue. The adjacent lands are owned by McCan Franchises Ltd., a corporate affiliate of McDonald’s Restaurants of Canada Limited.
PROPERTY TAXES (2016)
$56,522.61
TRAFFIC COUNTS
38,755 VPD along Lougheed Highway 33,398 VPD along Boundary Road
ZONING
I-2 Light Industrial, which allows for industrial and other uses not generally compatible with residential land uses, but beneficial in providing service employment opportunities in the city.
PERMITTED DENSITY
• •
ENVIRONMENTAL
A Phase I Environmental Site Investigation was completed in October 2012 and concluded that no further investigation was warranted at that time. In March 2016, an update to that report was commissioned and again it was concluded that no further investigation was warranted. Copies of past environmental reports will be made available to qualified purchasers.
FINANCING
Free and clear of debt
NOI
April 1, 2014 - March 31, 2019: $322,945 April 1, 2019 - March 31, 2024: $355,240
SALE PRICE
$14,500,000
3695 LOUGHEED HIGHWAY
*McCan Franchises Ltd. is a subsidary of McDonald’s Restaurants of Canada Limited
FORM RETAIL ADVISORS INC.
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ighw
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3.00 FSR for Industrial Use Maximum height of 18.3 meters but may be granted an increase to a maximum height of 30.5 meters, with approval from the Director of Planning (or the Development Permit Board)
FOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC MARKET OVERVIEW The Subject Property is conveniently located on the northwest corner of Lougheed Highway and Boundary Road, the most eastern border of Vancouver. Boundary Road serves as a municipal boundary between Vancouver and Burnaby which lends itself well for the Subject Property to benefit from the initiatives of both municipalities. The Subject Property is situated in an area that is poised to become one of Vancouver’s major employment areas, and is in close proximity to areas of intense residential development in Burnaby.
,39
8V
PD
)
Burnaby is now outpacing Vancouver in terms of residential development with over 106 highrise residential buildings with more than 30,000 units proposed or under construction (April 2016). Just east of the Subject Property is SOLO District, The Amazing Brentwood and Gilmore Station, which have plans to accommodate 46 residential towers, ranging from 25 to 65 storeys, over the next 25 years.
da un
Lou g
hee
dH
Bo
Gilmore Station developed by Onni Group of Companies Currently in the pre-development phase, Gilmore Station is a 12.48 acre transit-oriented mixed-use development with 491,000 SF of retail, 1,000,000 SF of office space for 5,000 jobs, and up to 3,500 residential units spread over 10 towers. The Public Hearing for Phase 1 was conducted May 2016 and is awaiting a second hearing.
ry
Ro a
d(
33
Major Developments in the area include:
igh
wa
y (3
8,7
55
VPD
)
The Amazing Brentwood developed by Shape Properties Currently under construction with Phase 1 projected to be completed in 2018, The Amazing Brentwood is a 28 acre development with 1,100,000 SF of retail, 500,000 SF of office, and 11 residential towers housing 6,000 residential units. Phase 1 featured three residential towers with 1,400 units which sold out in 21 months. SOLO District developed by Appia Development SOLO District is a multi-phased, mixed-use development located east of the Subject Property in Burnaby which upon completion will consist of over 150,000 SF of retail space, 560,000 SF of office space and 1,400 homes. SOLO District is nearing completion in 2017 with retail shops already open including Whole Foods, Shoppers Drug Mart and BC Liquor. Phase 1 is sold out and Phase 2 construction is underway. The Grandview Boundary Mixed Employment Area A 200 acre district bounded by Broadway, Slocan Street, Grandview Highway and Boundary Road, is currently being rezoned by the City of Vancouver to turn it into one of Vancouver’s major employment areas. The City of Vancouver is anticipating an investment of $35.8 Million for infrastructure upgrades to support this higher-density commercial district. It is expected that 19,000 people will be working in this region by 2041. FORM RETAIL ADVISORS INC.
nd
Bou
D)
8 VP
3,39
(3 oad ary R
Lougheed Highway
(38,755 VPD)
SALE FORFOR SALE
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY VANCOUVER, BC
SINGLE-TENANT INVESTMENT OPPORTUNITY 3695 LOUGHEED HIGHWAY | VANCOUVER, BC
Boundary Road
The Amazing Brentwood
New Tenant Roster TBA 6,000 residential units, 1.1 M SF retail, 500,000 SF office
Willing
SUBJECT SITE Rupert Street
nue
don Ave
ay
Lougheed Highw
The Shops at Gilmore Station
3,500 residential units, 491,000 SF retail, 1.0 M SF office
Brentwood Station
SOLO District Gilmore Station Millenium Line
1,400 residential units, 150,000 SF retail, 560,000 SF office
Tr an
sC an
ad
Rupert Station
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 was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors Inc.
FORM RETAIL ADVISORS INC.
a
Hi
gh
Grandview Highway
w
ay
2015 ESTIMATES & PROJECTIONS
3 KM
5 KM
10 MIN DRIVE
116,172
301,200
287,851
% Change Population (2015-2020)
0.79%
3.46%
3.88%
Households
43,395
118,639
113,615
% Change Households (2015-2020)
3.76%
5.93%
6.51%
Average Household Income
$82,687
$76,215
$78,257
% Change Average Household Income (2015-2020)
12.69%
12.49%
12.72%
Population
