highway 7 · situated at the corner of the forest hills extension and highway 7, the property...

H I G H W A Y 7DA R TM O U T H , N OVA S C OT I A

613

C O N F I D E N T I A L I N F O R M AT I O N M E M O R A N D U M

613T A B L E O F C O N T E N T S1. E X E C U T I V E S U M M A R Y

2 . P R O P E R T Y OV E R V I E W

3 . M A R K E T OV E R V I E W

4 . C O N F I D E N T I A L I T Y & O F F E R I N G P R O C E S S

EXECUTIVE SUMMARY

36 1 3 H I G H W AY 7, D A R T M O U T H , N S

MIXED USEDEVELOPMENT POTENTIAL

Interest from community for mixed-use residential infill supported by adjacent residential development.

POSITIONIdeal for a variety of commercial uses particularly those taking advantage of the morning traffic into Burnside, Dartmouth and Halifax.

DEVELOPMENT SCALEThe site size offers variety of commercial and residential uses.

CONNECTIONSPerfectly positioned to access highway system, the airport, and Burnside Park via Forest Hills Extension to the 100 series highways.

FOR SALE/FOR LEASE

The Owner will consider sale and leasing options for the property.

HIGHLY VISIBLE SITE

The immediate area is

SUPPORTED BY GROCERY, GAS, AND OTHER SERVICES


CBRE Limited has been retained by Madison Realty Group to coordinate a sale or lease of 613 Highway 7 in Dartmouth. The Owner is prepared to enter into a lease for all or a portion of the property.

Situated at the corner of the Forest Hills Extension and Highway 7, the property benefits from an excellent position and visibility at a high-profile lit intersection. This node is major intersection providing access to the Eastern Shore, Burnside Park, Cole Harbour and Dartmouth and, as such, provides an ideal location for both residential and commercial/retail development. Additionally, 6,000 vehicles pass southward daily between 7:00 and 9:00am with ±40,000 per day. This provides an excellent opportunity for coffee, quick service restaurant, and other uses looking for high traffic volumes.

At 6.26 acres, the site has great flexibility for a wide range of uses. The lot zoning currently allows for a wide range of commercial and retail uses. A staff report to council provided that the site be allowed via a development agreement and both staff and the area council indicated a support for a mixed-use development at the site. Accordingly, the Vendor has a concept prepared for the site as shown on the following page which incorporate both commercial and residential uses.

The Property is being offered for sale at $4,050,000 ($14.85 PSF of land)

Offers are to be received

Madison Realty Limitedc/o CBRE LimitedAttn: Andrew Cranmer5855 Spring Garden Road, Suite 300Halifax, NS B3H 4S2E [email protected] 902.492.2065

PROPERTY OVERVIEW

PROPERTY PROFILE

Property Address 613 Highway 7, Dartmouth, NS

PID 00619627

Lot Area 6.26 Acres

Zoning C-4 Highway Commercial

Sale Price $4,050,000$14.85 PSF

Frontage ±220 feet

Water Frontage ±300 feet

Potential Density88 residential units19,400 SF commercial/retail*As per density concept included on page 7.


HIGHWAY COMMERCIAL ZONEPolicy HC-10 of Cole Harbour MPS allows multi-residential by Development Agreement

ADJACENT TO LAKE LOON multi-residential development underway with townhouses built and 118 units a part of complex.Expected to start in 2018.

VARIOUS AMENITIES in immediate area and high traffic commercial node.

COVENANT ACCESS to all areas of HRM including Burnside, Cole Harbour, and Halifax Airport and highway series.

PROPERTY OVERVIEW

PANAVISTA DRIVE

PID: 00619775NS

TRANSPORTATIONAND PUBLIC WORKS

9.7 ACRES

PID: 40525446J.L. PATTERSON

SALES & SERVICELTD.

1.0 ACRE

PID: 40109084SOBEY'S LAND

HOLDINGS LIMITED80,412 SF




HOLDINGS LIMITED4.39 ACRES

MAIN S

TREET

FOREST HILLS EXTENSION

20m BUFFER

MIXED RESIDENTIAL AS PER POLICY

HC-10 OF COLE HARBOUR MPS

HIGHWAY COMMERCIAL

PID: 413325033240443 NOVA

SCOTIA LIMITED5.38 ACRES

PID: 00619627MADISON REALTY

LIMITED6.26 ACRES

FIGURE 1 - CONCEPT PLANLOON LAKE

WESTPHAL, NOVA SCOTIA

SCALE NORTH

1 : 1,500

40 m081624

MADISON REALTY LIMITEDJanuary 20, 2015 DA11093100_V34

Designer: I. GRANT

Planner: B.MORRISON

VERSION

3.4

LEGEND

KEY PLAN

Loon Lake

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SITE BOUNDARY

ADJACENT PROPERTY BOUNDARY

SITE SUMMARY: Existing Desigantion - Highway Commercial

(HC)

Existing Zone - Highway Commercial (C-4)

SOURCES: Property lines and topographic features from provincial

mapping. Bing satellite imagery. (2010)

NOTES: Property lines approximate only. site subject to

survey.

POLICY HC-10 BOUNDARY

MIXED RESIDENTIAL - 3.66 ACRESHIGHWAY COMMERCIAL - 2.60 ACRES

1 SPECTACLE LAKE DRIVEDARTMOUTH, NOVA SCOTIA CANADA, B3B 1X7

PHONE: 902 835-9955 - FAX: 902 835-1645 - WWW.WSPGROUP.COM


The site is zoned C-4 Highway Commercial within the Cole Harbour/Westphal plan area. The zoning provides for a wide range of uses including:

Commercial uses: • Retail stores;• Food stores;• Service and personal service shops;• Banks and financial institutions;• Restaurants;• Outdoor display courts;• Hotels, motels and motor inns;• Indoor commercial recreation uses;• Funeral establishments;• Service stations;• Taxi and bus depots;• Parking lots;• Greenhouses and nurseries;• Veterinary hospitals and kennels;• Re-cycling depots; and • Car Washes

Community Uses:• Open space uses;• Institutional uses;• Fraternal centres and halls.

USE PARKING REQUIREMENTSRetail stores, service and personal service shops: not exceeding 5,000 SF (464.5 sq. m.) of gross floor area

3.3 spaces per 1,000 SF (92.9 sq. m.) of gross floor area

Banks, financial institutions, and general offices

3.3 spaces per 1,000 SF (92.9 sq. m.) of gross floor area

Restaurants - Drive-In 27 spaces/1,000 sq. ft. (92.9 sq. m.)

Restaurants - Full Service 20 spaces per 1000 SF(92.9 m2) of gross floor area

PROPERTY OVERVIEW

LEASING INQUIRIESWith high visibility, traffic volumes and excellent position for food service, the property is also availability for lease. Inquiries should be directed to:

Rebecca ToddSales Associate+1 902 492 [email protected]

PANAVISTA DRIVE

MAI

N ST

REET

FOREST HILLS EXTENSION

Loon Lake

10.0m TIRNO BUILD

AREA

EXISTING SIGN

EXISTINGSIGN

6 UN

ITS

EXISTINGDRIVEWAY

14

4

1113

17

6

PROPOSEDDRIVEWAY

CR

U C

5,000 SFCR

U B

4,000 SF

CR

U A

2,000 SF8 U

NITS8 U

NITS

6 UN

ITS

CRU D4,200 SF

CRU E4,200 SF

166 U

NITS

6 UN

ITS

6 STOREY

60 UNIT BUILDING

20m BUFFER

6 UN

ITS6 U

NITS

FUTURE

CONNECTION

8

5

7

8

8

7

4

4

4

PROPOSEDU/G PARKINGACCESS

STACKED

STACKED

STACKED

STACKED

BUFFERING /SCREENING

LOADING

LOADING

LEGEND

KEY PLAN

SITE BOUNDARY

ADJACENT PROPERTY BOUNDARY

NOTES: PROPERTY LINES APPROXIMATE ONLY.

SITE SUBJECT TO SURVEY.

COMMERCIAL PARKING PROVIDED: 101 STALLS

RESIDENTIAL PARKING PROVIDED : 35 STALLSPLUS U/G (TBD)

LAKE LOON DEVELOPMENT PLAN FROMEKISTICS PLANNING AND DESIGN DETAILEDSITE PLAN, DATED OCTOBER 2012.FILE: Detailed_Site_Plan_REV1a.pdf

1 SPECTACLE LAKE DRIVE, DARTMOUTH, NS, CANADA B3B 1X7PHONE: 902 835-9955 - FAX: 902 835-1645 - WSP.COM

SCALE

DA11093100_V38

Prepared by:

Designer:

SOURCES: Property lines Topographic features from

provincial mapping.

WESTPHAL, NOVA SCOTIA

MADISON REALTY LIMITEDJANUARY 08, 2018

KWATTERS

CLOVITT

1 : 1,500

40 m081624

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613 MAIN STREETCONCEPT PLAN

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VERSION

3.8

PID: 00619627MADISON REALTY

LIMITED6.26 ACRES

PID: 00619775NS

TRANSPORTATIONAND PUBLIC WORKS

9.7 ACRES

PID: 40525446J.L. PATTERSON

SALES & SERVICELTD.

1.0 ACRE




HOLDINGS LIMITED4.39 ACRES

PID: 41332503CIVIC HOMES

LIMITED6.64 ACRES

POLICY HC-10 BOUNDARYMIXED RESIDENTIAL - 3.66 ACRES

SITE SUMMARY: EXISTING DESIGANTION - HIGHWAY

COMMERCIAL (HC) EXISTING ZONE - HIGHWAY COMMERCIAL

(C-4)


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EXPRESS

PROPERTY OVERVIEW

The adjacent concept plan, prepared by WSP, shows a mixed-use development with commercial uses are allowed as-of-right under the current zoning (Highway Commercial). The residential uses are permitted via development agreement as per Policy HC-10 of the Cole Harbour MPS.

The residential density outlined in a HRM Staff Report to Council allowing mixed residential through a Development Agreement was approximately 24 units per acre. This would account for 87.84 units and therefore the current concept plan shows 88 units divided between stacked townhouses (28 units) and an apartment building (60 units).

For the commercial development, the concept show three (3) buildings, with five (5) units totaling 19,400 square feet of space. The commercial layout is flexible depending on the user preferences.

Christina LovittWSPT+ 1 902-536-0922C+ 1 902-237-03951 Spectacle Lake DriveDartmouth, Nova Scotia B3B 1X7 Canada

BURNSIDE INDUSTRIAL PARK

DARTMOUTH CROSSING

BEDFORD INSTITUTE OF OCEANOGRAPHY

IRVING’S HALIFAX SHIPYARD

COVE - CENTRE FOR OCEAN VENTURES

& ENTREPRENEURSHIP

NSCC AKERLEY CAMPUS

613 MAIN STREET (SITE)

NSCC INSTITUTE OF TECHNOLOGY

WOODSIDE INDUSTRIAL PARK

TO AIRPORT


MARKET OVERVIEW

IRVING SHIPBUILDING STEEL CUTTING FACILITY

MIC MAC MALLTACOMA DRIVE

COLE HARBOUR HIGH SCHOOL

AUBURN DRIVE HIGH SCHOOLCOLE HARBOUR PLACE


MARKET OVERVIEW

Situated on the shores of Lake Loon, a popular fishing lake with a growing residential community, 613 Highway 7 is an ideal infill development at the intersection of Forest Hills Parkway and Highway 7/Main Street. Located at a high traffic intersection with convenient access to all areas of the city, this neighbourhood benefits from amenities including nearby golf courses, parks, Cole Harbour Place and a number of gyms, schools, and museums. The area is home to a wide range of shopping and professional services including the popular Gateway Meat Market and Vines Pasta Grill Italian restaurant.

As the defacto capital for Atlantic Canada, Halifax remains the growth centre for the region with the city tracking to be in the top 3 CMAs for GDP growth in 2017. According to the Conference Board of Canada, ”One project in particular, explains this phenomenal GDP growth in Halifax, Irving Shipbuilding Inc. (‘Irving’) began work in the second half of 2015 on the $3.5 Billion contract….” The Arctic Offshore Patrol Ships (“AOPS”) $3.5 billion contract is underway, targeting commencement of the larger $29-billion contract for the provision of coastal and naval ships in 2020. The AOPS contract, the largest public outsourcing contract ever awarded in Canada, has an estimated 30 year life span. The Irving Yard is the most technically advanced shipyard in North America.

Many drivers of the Halifax economy are based in Dartmouth including Burnside Park and Woodside Industrial Park, as well as a major office park at City of Lakes adjacent to Burnside. Further, major components of Halifax’s harbour related industry

is driven out of Dartmouth, including the steel cutting facility fort the Irving Shipyard, the new Centre of Ocean Ventures and Entrepreneurship, the Bedford Institute of Oceanography (employing over 600 scientists and researchers), as well as CFB Shearwater. Several campuses of the Nova Scotia Community College are located in Dartmouth and much of the municipality’s offices are located in downtown Dartmouth. Ocean related industries flourish and continue posting rapid growth trajectory, now accounting for $4.5B or 12.2% of Nova Scotia’s GDP.

These major employment drivers have supported the on-going growth of Dartmouth, Cole Harbour, Russell Lake West, Eastern Passage and the communities along the Eastern Shore. Further growth in the Port Wallace area, currently in planning, will continue to drive additional commercial demand in the area. The Dartmouth area and the Eastern Shore of Halifax have grown to well over 130,000 people accounting for over 30% of HRMs population.

As a result of this growth and the position of 613 Highway 7 at the Forest Hills Parkway, the site is ideal for access to a wide area of the city. With approximately 40,000 vehicles passing the site daily heading west into downtown Dartmouth, Halifax and Burnside, the site is ideally positioned for food and coffee operators. Further, between the peak morning hours of 7:00 and 9:00 am, over 6,000 vehicles pass on week days.

Source: The Conference Board of Canada, 2017.


CONFIDENTIALITY & OFFERING PROCESS

MEMORANDUM CONTENTSThis Confidential Information Memorandum (“CIM”) is being delivered to prospective investors to acquire 613 Highway 7, Dartmouth, NS (“The Property”). This CIM does not purport to be all inclusive or to contain all the information that a prospective investor may require in deciding whether or not to acquire the Property. This CIM is for information and discussion purposes only and does not constitute an offer to sell or the solicitation of any offer to buy the Property. The CIM provides selective information relating to certain physical, locational and financial characteristics of the Property. The information on which this CIM is based has been obtained from various sources considered reliable. Neither the Vendor nor CBRE make any representations, declarations or warranties, express or implied, as to the accuracy or completeness of the information or statements contained herein or otherwise and such information or statements should not be relied upon by prospective investors without independent investigation and verification. The Vendor and CBRE expressly disclaim any and all liability for any errors or omissions in the CIM or any other written or oral communication transmitted or made available to prospective investors. Prospective investors should conduct their own independent investigation and verification of the information provided herein, and should seek legal, accounting, tax, engineering or any other advice as necessary.

If any information relating to the Property, in addition to the information provided in this CIM, is provided at any time, orally or otherwise, by the Vendor or CBRE or anyone acting on their behalf, such information is provided as a convenience only without representation or warranty as to its accuracy or completeness and such information should not be relied upon by prospective investors without independent investigation and verification.

CONFIDENTIALITYBy accepting this CIM, prospective investors agree to hold and treat this CIM and its contents in the strictest confidence. Prospective investors will not, directly or indirectly, disclose or communicate or permit anyone else to disclose or communicate this CIM or any of its contents or any part thereof to any person, firm or entity without the prior written consent of the Vendor and CBRE. Prospective investors will not use or permit this CIM to be used in any manner detrimental to the interests of the Vendor, CBRE or their affiliates or for any other purpose than a proposed purchase of the Property. The recipient of this CIM agrees to provide CBRE with a list of those persons to whom this CIM or any information contained herein is provided. The terms and conditions in this Section with respect to confidentiality and the disclaimer contained under the heading “Memorandum Contents” will relate to all Sections of the CIM as if stated independently therein.

INDEMNIFICATIONRecipients of this CIM acknowledge that they are principals or investment advisors in connection with the possible acquisition of an equity interest in the Property and hereby agree to indemnify the Vendor and CBRE against any compensation, liability or expense (including attorneys’ and commission fees), arising from claims by any other broker or party the purchaser had dealings with (excluding CBRE) in connection with the sale of an equity interest in the Property, or in connection with a breach by the prospective investor of its obligations as described herein.


CONFIDENTIALITY & OFFERING PROCESS

In no event shall a prospective investor or any of its agents or contractors contact any tenant of the Property or any governmental authorities concerning the Property, or make any physical inspection or testing of the Property, without the prior written consent of the Vendor or CBRE.

The Vendor reserves the right to end the sale process or to cease discussions with any and all parties at any time without notice or liability.

SALES CONDITIONSAny information related to the Property which has been or will be obtained from the Vendor, CBRE or any other person, has been prepared and provided solely for the convenience of the prospective investor. Neither the Vendor nor CBRE make any representation or warranty that such information is accurate or complete. Such information shall not form part of the terms of an Agreement of the Purchase and Sale, unless otherwise agreed in writing by the Vendor.

ANDREW CRANMERSenior Sales Associate+1 902 492 [email protected]

JAMES BOUDREAUSenior Sales Associate+1 902 492 [email protected]

REBECCA TODDSales Associate+1 902 492 [email protected]

BREANNE HAYSales Representative+1 902 492 [email protected]

SALE INQUIRIES: LEASING INQUIRIES:

© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness,completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. Layout ID: L10 MapId: 5130421

This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.

CBRE LIMITED5855 Spring Garden Road Halifax, NS B3H 4S2 T +1 902 492 2090F +1 902 492 2091

For more information, please contact:

Andrew CranmerSenior Sales Associate

+1 902 492 2065 [email protected]

CBRE CAPITAL MARKETS ATLANTIC CANADA

highway 7 · situated at the corner of the forest hills extension and highway 7, the property...

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