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Riverside Heights Shopping Centre 14815 108 Ave 99,259 SF 99% Leased Retail Building Surrey, BC V3R 1W2 For Sale
EXECUTIVE SUMMARY
Opportunity to acquire a 101,833 sf grocery anchored neighbourhood shopping centre, fully leased to a mix of 18 national and regional tenants and situated on 6.90-acres of prime redevelopment land at a prime intersection in the City of Surrey.
Strong redevelopment potential - Designated within the Guildford Neighbhourhood Concept Plan (NCP) allowing flexible options for residential concrete or wood-frame construction
Central location - Situated at a prime intersection in a densely populated, amenity-rich neighbourhood with convenient access to major transportation routes including Trans-Canada Highway directly from 108th Avenue, along with Guildford Town Centre, the future Surrey-Langley SkyTrain, and Surrey City Centre
Site attributes - Large rectangular shape with four road frontages, offering efficiency and economies of scale, and phenomenal views overlooking the North Shore mountains and the Fraser River.
Increased income potential - Significant upside as current average rents are over 50% below market and there is potential to build additional pads
Multiple value add strategies - The Property offers 6.90 acres of land and allows for both a full or a phased re-development. The site bifurcates and allows the Purchaser to focus on re-developing the eastern portion of the site and repositioning the western portion of the centre
Strong redevelopment potential - Designated within the Guildford Neighbhourhood Concept Plan (NCP) allowing flexible options for residential concrete or wood-frame construction
Central location - Situated at a prime intersection in a densely populated, amenity-rich neighbourhood with convenient access to major transportation routes including Trans-Canada Highway directly from 108th Avenue, along with Guildford Town Centre, the future Surrey-Langley SkyTrain, and Surrey City Centre
Site attributes - Large rectangular shape with four road frontages, offering efficiency and economies of scale, and phenomenal views overlooking the North Shore mountains and the Fraser River.
Increased income potential - Significant upside as current average rents are over 50% below market and there is potential to build additional pads
Multiple value add strategies - The Property offers 6.90 acres of land and allows for both a full or a phased re-development. The site bifurcates and allows the Purchaser to focus on re-developing the eastern portion of the site and repositioning the western portion of the centre
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Building Size
99,259 SF
Building Class
B
Year Built/Renovated
1961/1998
Percent Leased
99%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.33
Lot Size
6.90 AC
Zoning
C-8 - Community Commercial Zone
Parking
300 Spaces (3.02 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- 24 Hour Access
- Bus Line
- Corner Lot
- Pylon Sign
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
- On-Site Security Staff
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Close proximity to Highway 1 Easy and convenient access and ample on-site parking Dominant food anchored centre in North Surrey
| Space | Size | Space Use | Position | Available |
| 1 | 920 SF | Retail | In-Line | Now |
1
| Size |
| 920 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 3
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1
| Size | 920 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Close proximity to Highway 1 Easy and convenient access and ample on-site parking Dominant food anchored centre in North Surrey
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
CONTACTS
-
Bob Levine -
Bal Atwal -
Kerman Pannu -
Jonathan Hallett -
Avison Young Commercial Real Estate
1 of 6
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Riverside Heights Shopping Centre | 14815 108 Ave
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