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37 Vic Turner Airport Rd 13,550 SF 100% Leased Office Building Dawson Creek, BC V1G 0G1 $3,798,199 USD ($280.31 USD/SF) 7% Cap Rate
Investment Highlights
- Built-to-suit single-story office building completed in 2013 for Encana/Ovintiv, with a design that allows for future expansion to a second floor.
- Positioned near Dawson Creek Airport and major transportation routes, ensuring convenient regional connectivity for business operations.
Executive Summary
Encana/Ovintiv is a leading North American energy producer with a strong and diverse portfolio of natural gas, oil, and natural gas liquids. The company is committed to supporting the communities where it operates by partnering with employees, community organizations, and other businesses. Encana/Ovintiv is dual-listed on both the TSX and NYSE, with a market capitalization exceeding $9 billion and reported revenue of over $5 billion in 2020.
In January 2013, a single-story office building was completed as a built-to-suit project for Encana/Ovintiv under a 10-year lease at a rate of $29.00 per square foot. While the initial lease term ended in January 2023, the company opted to extend it for an additional five years, with the new term running until December 31, 2027. The building also offers an expansion opportunity, as it was designed to accommodate the potential addition of a second floor.
In January 2013, a single-story office building was completed as a built-to-suit project for Encana/Ovintiv under a 10-year lease at a rate of $29.00 per square foot. While the initial lease term ended in January 2023, the company opted to extend it for an additional five years, with the new term running until December 31, 2027. The building also offers an expansion opportunity, as it was designed to accommodate the potential addition of a second floor.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
13,550 SF
Building Class
B
Year Built
2013
Price
$3,798,199 USD
Price Per SF
$280.31 USD
Cap Rate
7%
NOI
$265,874 USD
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
13,550 SF
Building FAR
0.19
Lot Size
1.65 AC
Zoning
M3 - Heavy Industrial
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37 Vic Turner Airport Rd
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