For Sale: Investment Opportunity
For Sale: Investment Opportunity Ground Floor 12992 76th Avenue Surrey, BC SAM NAKHLEH*
KEY HIGHLIGHTS >> Secure income provided by long-term lease with national tenant >> Great access to public transit and just a 10 minute drive to the King George SkyTrain Station
Senior Vice President DIR: 604 661 0861 [email protected]
>> Surrey is one of Canada’s fastest-growing cities, with an expected population increase from about 500,000 people in 2013 to nearly 750,000 by 2036 COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, BC V6C 2R6 604 681 4111 www.collierscanada.com
>> Recent upgrades including new roof and HVAC >> Abundant surface parking
THE OPPORTUNITY To acquire a 100% freehold interest in the ground floor of a newly strata-titled retail/office building that is fully leased to one of Canada’s largest fitness companies, GoodLife Fitness, with over 300 locations. Investors seeking security and stability of income with built-in rent steps and ease of management will be drawn to this outstanding opportunity.
CIVIC ADDRESS Ground Floor - 12992 76th Avenue, Surrey, BC
LOCATION The building is located at the southwest corner of 76th Avenue and 130th Street in Surrey’s Newton area. Surrey is currently the fastest growing area in Metro Vancouver and Newton is the largest community in Surrey, with an estimated population of over 132,000 (2014), which is expected to grow by over 40% in the next 20 years. The property is located on public transit, providing quick access to SkyTrain approximately ten minutes away.
SITE PLAN
FOR SALE > Ground Floor 12992 76th Avenue, Surrey, BC
BUILDING DESCRIPTION The building was constructed in 1997 and is built of tilt-up concrete with a strip and spread footings foundation. This two storey building features extensive glazing and is in process of being strata-titled with a total building size of approximately 42,360 SF. Offered for sale is the ground floor strata unit comprising approximately 20,969.4 SF. The building is undergoing a renovation in conjunction with being stratatitled. The building has a new roof, all new HVAC units, increased power/ electrical service, a new pylon sign and a grade level loading door is being replaced with windows. The building is serviced by one elevator and is fully sprinklered.
SITE DESCRIPTION 96,528 SF or 2.216 acres. The site is rectangular in shape with approximately 262 feet of frontage to 76th Avenue and about 368 feet of frontage to 130th street. All municipal services are available on the property.
PARKING The property features approximately 165 surface parking stalls or about 3.9 stalls per 1,000 SF. The property is fully paved with mature landscaping around the perimeter of the property. 100 parking stalls have been allocated for the use of the tenant of the ground floor
ZONING The subject property is zoned IB, Business Park Zone. This zone is intended to accommodate and regulate the comprehensive design of business parks including service and office uses. The extract from the Zoning Bylaw is available upon request.
BL UE MOUNTAIN ST Edmonds
VE 8A
ue 6
BLVD HARTLEY AVE
NS
E AV Columbia
PA TU LL O
Fr
e as
r
R ive
r 116 AVE
Scott Rd
New Westminster
t tree OR RD
S 132
BRIDGE
91A
BROADWAY ST
T RIVER RD
IGH
WA Y
PITT MEA AIRPORT
FR
EN
PE R
IM
108 AVE
108 AVE
SC OT T
AS FR
H RT
Douglas Island
V OS GR
RD
ER
W
Y
Gateway
NO
PI T
MARY HILL BYPASS
Sapperton
EE ARDSO N W QU EW Y ST
22nd St
UNITED
E AV
E AV
DH
E DG
GILLEY AV E
KINGSWAY
10
TT
I NN BR RT MA PO
Av en
ST Y 6 W DA NA CA
th
NE
BRU
Braid
EE
WOOLRIDGE RD
76
1
HWA Y
ESS Y
HIG
VE EA
AU GH N
DA
ST
GH
SH
NA
NORTH RD
CA
BIA ST
T
et 130 Stre
NS
CO LUM
RA
LO U
Surrey Central
104 AVE
C.N
ET
.R
ER
.
RD
Barnston
104 AVE
King George
NEWTON RD
91
64 AVE
72 AVE
RD E RV I HA
184 ST
168 ST
76 AVE 152 ST
112 ST
Y WA HIGH
72 AVE
176TH ST
80 AVE 76 AVE 140 ST
CIS ANNA
80 AVE
88 AVE
PACIFIC HIGHWAY
84 AVE
84 AVE
SCOTT RD
IDGE R BR RASE
Y
92 AVE
KING GEORGE HIGHWAY
XF ALE
W
132 ST
E
L DE OR
88 AVE
128 ST
120 ST
G ID
N
96 AVE
92 AVE
BR
C.N.R.
HIG
HW AY
99A
H
SAM NAKHLEH* 604 661 0861 [email protected]
DE N
OUG OR
CONTACT US
E AV
E CLI V DERWENT WY
ER
160 ST
96 AVE
Annacis Island
144 ST
EN SB
AS
156 ST
QUE
FR
148 ST
100 AVE
100 AVE
72 AVE
68 AVE
17 KITSON PKWY
UT
HE
B.N .R
RN
148 ST
58 AVE
RA
60 AVE
ILW AY
56 AVE
56 AVE B.C. RAIL
160 ST
STATION RD
140 ST
.
COLEBROOK RD
15
40 AVE
40 AVE 152 ST
Fully leased to Good Life Corporation (indemnified by Goodlife Fitness Centres Inc.). Founded in 1979, the tenant is the largest fitness company in Canada with nearly 900,000 members at over 300 locations across Canada. 32 AVE
32 AVE
99
168 ST
28 AVE
160 ST
W ST
RD
E
140 ST
BA YV IE
C ES CR
28 AVE
15 year lease commencing July 1, 2014 at $366,965 ($17.50 per SF) increasing to $398,418.60 ($19.00 per SF) in Year 6 and then going to $429,872.70 ($20.50 per SF) in Year 11. The lease includes two, five year options to renew with the rent in the first option preset at $22.00 per SF.
24 AVE
128 ST
124 ST
24 AVE
20 AVE
20 AVE
20 AVE
16 AVE
NORTH BLUFF RD
MARINE DR
BUENA VISTA AVE
8 AVE
$6,500,000 (5.65% capitalization rate, $310 per SF)
CAMPBELL RIVER RD B.N
.R
.
CANADA U.S.A.
176 ST
ASKING PRICE
172 ST
COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, BC V6C 2R6 604 681 4111 www.collierscanada.com
184 ST
Mud Bay
PACIFIC HIGHWAY
TENANCY & INCOME
NT
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International 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. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Vancouver). *Personal Real Estate Corporation. JH 04/2014
64 AVE
SO
0 AVE
BOUNDARY R
KEY HIGHLIGHTS >> Secure income provided by long-term lease with national tenant >> Great access to public transit and just a 10 minute drive to the King George SkyTrain Station
Senior Vice President DIR: 604 661 0861 [email protected]
>> Surrey is one of Canada’s fastest-growing cities, with an expected population increase from about 500,000 people in 2013 to nearly 750,000 by 2036 COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, BC V6C 2R6 604 681 4111 www.collierscanada.com
>> Recent upgrades including new roof and HVAC >> Abundant surface parking
THE OPPORTUNITY To acquire a 100% freehold interest in the ground floor of a newly strata-titled retail/office building that is fully leased to one of Canada’s largest fitness companies, GoodLife Fitness, with over 300 locations. Investors seeking security and stability of income with built-in rent steps and ease of management will be drawn to this outstanding opportunity.
CIVIC ADDRESS Ground Floor - 12992 76th Avenue, Surrey, BC
LOCATION The building is located at the southwest corner of 76th Avenue and 130th Street in Surrey’s Newton area. Surrey is currently the fastest growing area in Metro Vancouver and Newton is the largest community in Surrey, with an estimated population of over 132,000 (2014), which is expected to grow by over 40% in the next 20 years. The property is located on public transit, providing quick access to SkyTrain approximately ten minutes away.
SITE PLAN
FOR SALE > Ground Floor 12992 76th Avenue, Surrey, BC
BUILDING DESCRIPTION The building was constructed in 1997 and is built of tilt-up concrete with a strip and spread footings foundation. This two storey building features extensive glazing and is in process of being strata-titled with a total building size of approximately 42,360 SF. Offered for sale is the ground floor strata unit comprising approximately 20,969.4 SF. The building is undergoing a renovation in conjunction with being stratatitled. The building has a new roof, all new HVAC units, increased power/ electrical service, a new pylon sign and a grade level loading door is being replaced with windows. The building is serviced by one elevator and is fully sprinklered.
SITE DESCRIPTION 96,528 SF or 2.216 acres. The site is rectangular in shape with approximately 262 feet of frontage to 76th Avenue and about 368 feet of frontage to 130th street. All municipal services are available on the property.
PARKING The property features approximately 165 surface parking stalls or about 3.9 stalls per 1,000 SF. The property is fully paved with mature landscaping around the perimeter of the property. 100 parking stalls have been allocated for the use of the tenant of the ground floor
ZONING The subject property is zoned IB, Business Park Zone. This zone is intended to accommodate and regulate the comprehensive design of business parks including service and office uses. The extract from the Zoning Bylaw is available upon request.
BL UE MOUNTAIN ST Edmonds
VE 8A
ue 6
BLVD HARTLEY AVE
NS
E AV Columbia
PA TU LL O
Fr
e as
r
R ive
r 116 AVE
Scott Rd
New Westminster
t tree OR RD
S 132
BRIDGE
91A
BROADWAY ST
T RIVER RD
IGH
WA Y
PITT MEA AIRPORT
FR
EN
PE R
IM
108 AVE
108 AVE
SC OT T
AS FR
H RT
Douglas Island
V OS GR
RD
ER
W
Y
Gateway
NO
PI T
MARY HILL BYPASS
Sapperton
EE ARDSO N W QU EW Y ST
22nd St
UNITED
E AV
E AV
DH
E DG
GILLEY AV E
KINGSWAY
10
TT
I NN BR RT MA PO
Av en
ST Y 6 W DA NA CA
th
NE
BRU
Braid
EE
WOOLRIDGE RD
76
1
HWA Y
ESS Y
HIG
VE EA
AU GH N
DA
ST
GH
SH
NA
NORTH RD
CA
BIA ST
T
et 130 Stre
NS
CO LUM
RA
LO U
Surrey Central
104 AVE
C.N
ET
.R
ER
.
RD
Barnston
104 AVE
King George
NEWTON RD
91
64 AVE
72 AVE
RD E RV I HA
184 ST
168 ST
76 AVE 152 ST
112 ST
Y WA HIGH
72 AVE
176TH ST
80 AVE 76 AVE 140 ST
CIS ANNA
80 AVE
88 AVE
PACIFIC HIGHWAY
84 AVE
84 AVE
SCOTT RD
IDGE R BR RASE
Y
92 AVE
KING GEORGE HIGHWAY
XF ALE
W
132 ST
E
L DE OR
88 AVE
128 ST
120 ST
G ID
N
96 AVE
92 AVE
BR
C.N.R.
HIG
HW AY
99A
H
SAM NAKHLEH* 604 661 0861 [email protected]
DE N
OUG OR
CONTACT US
E AV
E CLI V DERWENT WY
ER
160 ST
96 AVE
Annacis Island
144 ST
EN SB
AS
156 ST
QUE
FR
148 ST
100 AVE
100 AVE
72 AVE
68 AVE
17 KITSON PKWY
UT
HE
B.N .R
RN
148 ST
58 AVE
RA
60 AVE
ILW AY
56 AVE
56 AVE B.C. RAIL
160 ST
STATION RD
140 ST
.
COLEBROOK RD
15
40 AVE
40 AVE 152 ST
Fully leased to Good Life Corporation (indemnified by Goodlife Fitness Centres Inc.). Founded in 1979, the tenant is the largest fitness company in Canada with nearly 900,000 members at over 300 locations across Canada. 32 AVE
32 AVE
99
168 ST
28 AVE
160 ST
W ST
RD
E
140 ST
BA YV IE
C ES CR
28 AVE
15 year lease commencing July 1, 2014 at $366,965 ($17.50 per SF) increasing to $398,418.60 ($19.00 per SF) in Year 6 and then going to $429,872.70 ($20.50 per SF) in Year 11. The lease includes two, five year options to renew with the rent in the first option preset at $22.00 per SF.
24 AVE
128 ST
124 ST
24 AVE
20 AVE
20 AVE
20 AVE
16 AVE
NORTH BLUFF RD
MARINE DR
BUENA VISTA AVE
8 AVE
$6,500,000 (5.65% capitalization rate, $310 per SF)
CAMPBELL RIVER RD B.N
.R
.
CANADA U.S.A.
176 ST
ASKING PRICE
172 ST
COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, BC V6C 2R6 604 681 4111 www.collierscanada.com
184 ST
Mud Bay
PACIFIC HIGHWAY
TENANCY & INCOME
NT
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International 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. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Vancouver). *Personal Real Estate Corporation. JH 04/2014
64 AVE
SO
0 AVE
BOUNDARY R
