single tenant drive-thru investment opportunity
SINGLE TENANT SINGLE TENANT DRIVE-THRU INVESTMENT OPPORTUNITY INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
10392 SCOTT ROAD SURREY, BC
Sout
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Rd. (
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SUBJECT SITE
Sc
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29
,47
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ry Rd
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60 V
104
(5,9 enue
Av
JACK ALLPRESS* 604 638 1975 [email protected]
FORM RETAIL ADVISORS INC.
CURTIS LEONHARDT* 604 638 1999 [email protected]
*Personal Real Estate Corporation
JOE GENEST*
604 398 4341 [email protected]
SINGLE TENANT INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
OPPORTUNITY To acquire a high exposure 29,816 SF parcel improved with a 2,769 SF freestanding building with drive-thru occupied by Tim Hortons on a long-term lease. PROPERTY OVERVIEW • Freestanding Single Tenant Building 100% occupied by Tim Hortons (circa 2011) on a long term 15 YR lease with two (2) five (5) year options to renew • Contractual rent increases every five (5) years (Rent Escalations in 2016 & 2021) • High exposure location seeing nearly 40,000 VPD traveling along Scott Road and 104 Avenue • Excellent connectivity in close proximity to the South Fraser Perimeter Road, Pattullo Bridge, and Highway 1 • Over 84,000 people within 3 km with a household incomes averaging over $75,000 per annum • Excellent access/egress to the site via Scott Road and 104 Avenue • Double drive thru stacking for 17 cars • Building site coverage is only 9.5% CIVIC ADDRESS 10392 Scott Road, Surrey, BC
SITE SIZE 29,816 SF
PID 027-812-375
NET RENTABLE AREA 2,769 SF
TRAFFIC COUNTS Scott Road- 29,470 VPD 104 Avenue- 5,960 VPD South Fraser Perimeter Road- 12,300 VPD TENANT The TDL Group Corp./Groupe TDL Corporation,o/a ‘Tim Hortons’ *As of November 1, 2016
FORM RETAIL ADVISORS INC.
PARKING Approximately 31 surface stalls
0V ,47 (29 Sco tt R oad
ZONING CHI - Highway Commercial Industrial Zone accommodates and regulates commercial and related uses requiring large lots and exposure to major highways
PD )
LEGAL DESCRIPTION LOT 1 BLOCK 5 SECTION 19 RANGE 2W PLAN BCP39778 NWD
NOI* $141,600 / Annum Escalates in 2021 LIST PRICE $4,880,000 FUTURE DEVELOPMENT
SINGLE TENANT INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
MARKET OVERVIEW Located in Surrey’s rapidly changing South Westminster neighbourhood, the site is surrounded by high quality business parks and highway commercial uses. South Westminster has been identified by the municipality as the gateway to the City and is the focus of a plan to achieve revitalization through investment, with the goal of creating a vibrant commercial and industrial business district along the Fraser River waterfront. Thanks to the new South Fraser Perimeter Road, the area has become a major thoroughfare for vehicles travelling throughout the Lower Mainland, and boasts exceptional connectivity via Highway 1 and the Pattullo Bridge. ABOUT TIM HORTONS (TDL GROUP LTD.): Royal City Centre Tim Hortons is Canada’s largest quick service restaurant chain with approximately 3,665 locations in Canada and 869 in the United States.
The company commenced operations in Hamilton, Shops at Ontario in 1974 and has grown its brand steadily New West throughout the continent ever since. With over 20 locations throughout Surrey, Tim Hortons is able to service the entire region and benefits from strong brand recognition in the community.
Pat ul
lo
Bri
dg
e
King George Boulevard
Columbia Skytrain Station
d ot tR oa
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Sc
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Ol
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d
Fr as ne
ry
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ut h
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Scott Road Skytrain Station
108th Avenue
Ro a
So
Skytrain Station
d
Columbia
Square Plaza The companys’ estimated revenue in 2013 was $3.225 billion CAD. In 2014, Tim Hortons merged with Burger King and is now operated by the parent company Restaurant Brands International (RBI). New Westminster
d
SUBJECT SITE
Gr ac
e
Ro a
d
103A Avenue
FORM RETAIL ADVISORS INC.
Central City Shopping Centre
Surrey Central Skytrain Station
SINGLE TENANT SINGLE TENANT INVESTMENT OPPORTUNITY INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
10392 SCOTT ROAD | SURREY, BC
Pa ttu l
lo
Columbia Skytrain Station
Bri
dg
e King George Boulevard
Columbia Square Plaza
Sky
trai
n
(1 2, 30 0V
PD
)
Shops at New West
Pe r
im
et
er
Ro ad
Scott Road Skytrain Station
d ot tR oa Sc
So
ut
hF ra s
er
New Westminster Skytrain Station
SUBJECT SITE
2016 ESTIMATES & PROJECTIONS
1 KM
3 KM
5 KM
Population
2,721
84,360
222,024
Households
852
33,384
82,746
$84,018
$75,822
$78,561
Average Household Income
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.
104 Ave 103A Ave
10392 SCOTT ROAD SURREY, BC
Sout
h Fra
ser P erim
eter
Rd. (
12,3
00 V
PD)
SUBJECT SITE
Sc
ott
Ro a
d(
29
,47
.
ry Rd
0V
e Tann
PD
)
PD)
60 V
104
(5,9 enue
Av
JACK ALLPRESS* 604 638 1975 [email protected]
FORM RETAIL ADVISORS INC.
CURTIS LEONHARDT* 604 638 1999 [email protected]
*Personal Real Estate Corporation
JOE GENEST*
604 398 4341 [email protected]
SINGLE TENANT INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
OPPORTUNITY To acquire a high exposure 29,816 SF parcel improved with a 2,769 SF freestanding building with drive-thru occupied by Tim Hortons on a long-term lease. PROPERTY OVERVIEW • Freestanding Single Tenant Building 100% occupied by Tim Hortons (circa 2011) on a long term 15 YR lease with two (2) five (5) year options to renew • Contractual rent increases every five (5) years (Rent Escalations in 2016 & 2021) • High exposure location seeing nearly 40,000 VPD traveling along Scott Road and 104 Avenue • Excellent connectivity in close proximity to the South Fraser Perimeter Road, Pattullo Bridge, and Highway 1 • Over 84,000 people within 3 km with a household incomes averaging over $75,000 per annum • Excellent access/egress to the site via Scott Road and 104 Avenue • Double drive thru stacking for 17 cars • Building site coverage is only 9.5% CIVIC ADDRESS 10392 Scott Road, Surrey, BC
SITE SIZE 29,816 SF
PID 027-812-375
NET RENTABLE AREA 2,769 SF
TRAFFIC COUNTS Scott Road- 29,470 VPD 104 Avenue- 5,960 VPD South Fraser Perimeter Road- 12,300 VPD TENANT The TDL Group Corp./Groupe TDL Corporation,o/a ‘Tim Hortons’ *As of November 1, 2016
FORM RETAIL ADVISORS INC.
PARKING Approximately 31 surface stalls
0V ,47 (29 Sco tt R oad
ZONING CHI - Highway Commercial Industrial Zone accommodates and regulates commercial and related uses requiring large lots and exposure to major highways
PD )
LEGAL DESCRIPTION LOT 1 BLOCK 5 SECTION 19 RANGE 2W PLAN BCP39778 NWD
NOI* $141,600 / Annum Escalates in 2021 LIST PRICE $4,880,000 FUTURE DEVELOPMENT
SINGLE TENANT INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
MARKET OVERVIEW Located in Surrey’s rapidly changing South Westminster neighbourhood, the site is surrounded by high quality business parks and highway commercial uses. South Westminster has been identified by the municipality as the gateway to the City and is the focus of a plan to achieve revitalization through investment, with the goal of creating a vibrant commercial and industrial business district along the Fraser River waterfront. Thanks to the new South Fraser Perimeter Road, the area has become a major thoroughfare for vehicles travelling throughout the Lower Mainland, and boasts exceptional connectivity via Highway 1 and the Pattullo Bridge. ABOUT TIM HORTONS (TDL GROUP LTD.): Royal City Centre Tim Hortons is Canada’s largest quick service restaurant chain with approximately 3,665 locations in Canada and 869 in the United States.
The company commenced operations in Hamilton, Shops at Ontario in 1974 and has grown its brand steadily New West throughout the continent ever since. With over 20 locations throughout Surrey, Tim Hortons is able to service the entire region and benefits from strong brand recognition in the community.
Pat ul
lo
Bri
dg
e
King George Boulevard
Columbia Skytrain Station
d ot tR oa
Ro a er
Sc
et Pe rim
Ol
er
d
Fr as ne
ry
Ya l
eR oa
d
ut h
Ta n
Scott Road Skytrain Station
108th Avenue
Ro a
So
Skytrain Station
d
Columbia
Square Plaza The companys’ estimated revenue in 2013 was $3.225 billion CAD. In 2014, Tim Hortons merged with Burger King and is now operated by the parent company Restaurant Brands International (RBI). New Westminster
d
SUBJECT SITE
Gr ac
e
Ro a
d
103A Avenue
FORM RETAIL ADVISORS INC.
Central City Shopping Centre
Surrey Central Skytrain Station
SINGLE TENANT SINGLE TENANT INVESTMENT OPPORTUNITY INVESTMENT OPPORTUNITY 10392 SCOTT ROAD SURREY, BC
10392 SCOTT ROAD | SURREY, BC
Pa ttu l
lo
Columbia Skytrain Station
Bri
dg
e King George Boulevard
Columbia Square Plaza
Sky
trai
n
(1 2, 30 0V
PD
)
Shops at New West
Pe r
im
et
er
Ro ad
Scott Road Skytrain Station
d ot tR oa Sc
So
ut
hF ra s
er
New Westminster Skytrain Station
SUBJECT SITE
2016 ESTIMATES & PROJECTIONS
1 KM
3 KM
5 KM
Population
2,721
84,360
222,024
Households
852
33,384
82,746
$84,018
$75,822
$78,561
Average Household Income
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.
104 Ave 103A Ave
