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Tri-City Plaza 150 Holiday Inn Dr 171,815 SF 100% Leased Retail Building Cambridge, ON N2C 0A1 For Sale
INVESTMENT HIGHLIGHTS
- High profile location of Hespeler Road & Highway 401
- Perfectly suited within an expansive & Accessible trade area
- Anchored by a large Zehrs supermarket with major tenants such as SAIL Outdoors, Crunch Fitness, Treasure Hunt & Dollarama
EXECUTIVE SUMMARY
Tri-City Plaza presents a rare opportunity for an investor to purchase a shadow grocery anchored shopping centre in a prime retail node in the growing Cambridge market. The Property is a 171,815 SF centre at the high profile location of Hespeler Road and Highway 401. Shadow anchored by a large Zehrs supermarket and with major tenants including SAIL Outdoors, Crunch Fitness, Treasure Hunt and Dollarama as well as 4 drive-through retail pads, the Property is perfectly suited within an expansive and accessible trade area.
The Property is currently 100% leased with a weighted average lease term (WALT) of 6.0 years remaining and an average in-place base rent of $14.88 PSF. The rapid increase in retail rents and high replacement costs provides for strong cash flow growth. There is favourable in-place debt which could also help leverage returns for investors.
The Property is currently 100% leased with a weighted average lease term (WALT) of 6.0 years remaining and an average in-place base rent of $14.88 PSF. The rapid increase in retail rents and high replacement costs provides for strong cash flow growth. There is favourable in-place debt which could also help leverage returns for investors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
171,815 SF
Building Class
B
Year Built
2014
NOI
$1,801,932 USD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.21
Lot Size
19.00 AC
Zoning
CS3 - Community Shopping Centre
Parking
1,034 Spaces (6.02 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
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Tri-City Plaza | 150 Holiday Inn Dr
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