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INVESTMENT OPPORTUNITY

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Page 1: INVESTMENT OPPORTUNITY · commute from downtown Vancouver. Trenant Park Square represents a rare opportunity to acquire a market dominant, retail shopping centre in the established

I N V E S T M E N T O P P O R T U N I T Y

Page 2: INVESTMENT OPPORTUNITY · commute from downtown Vancouver. Trenant Park Square represents a rare opportunity to acquire a market dominant, retail shopping centre in the established

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) has been retained on an exclusive basis by Investors Group Trust Co. Ltd. as Trustee for Investors Real Property Fund (the “Vendor”)to arrange the sale of a 100% freehold interest in Trenant Park Square, a 138,716 square foot, open format, grocery and drugstore anchored retail centre located at 5201 Ladner Trunk Road, Delta (the “Property”), which is a short 35-minute commute from downtown Vancouver.

Trenant Park Square represents a rare opportunity to acquire a market dominant, retail

shopping centre in the established trade area of Ladner, one of Delta’s largest communities. The Property is leased to a diverse mix of local, national, and international tenants. The Property is anchored by FreshCo. and London Drugs, but is also leased to other notable tenants including RBC, Dollarama, Starbucks, Cobs Bread, Subway, and Kin’s Farm Market. The shopping centre is positioned to serve the growing, affluent, residential trade area of Delta which also services the nearby Tsawwassen community.

THE OFFERING

STRATEGICALLY LOCATED, EFFICIENT INGRESS / EGRESSStrategically located in the heart of the Ladner community, just a 35-minute commute from Downtown Vancouver. The Property is situated at the highly trafficked signalized intersection of Ladner Trunk Road and 52a Street, with five points of ingress and egress.

DOMINANT SHOPPING CENTREThe Property represents a rare opportunity to acquire the dominant retail shopping centre in Ladner. The Property is 98.3% occupied by a diverse mix of tenants and anchored by strong national covenant tenants.

STRONG IN-PLACE INCOME WITH LONG TERM TENANCIESThe Property provides a strong long-term income stream and features an attractive weighted average lease to expiry of 5.9 years. Collectively, over 84% of the centre’s base rent is derived from regional and national tenants.

INVESTMENT HIGHLIGHTS

LOCATION OVERVIEW

KEY INFRASTRUCTURE PROJECTS

Trenant Park Square Shopping Centre is located approximately 23 kilometres south of downtown Vancouver in the affluent community of Ladner in the City of Delta. The City of Delta has a population of 113,544 and is comprised of three distinctive communities: Ladner, Tsawwassen, and North Delta. The City of Delta has traditionally been known for its economic production in agriculture as over half of the land is designated in the Agricultural Land Reserve (ALR), however there are several large infrastructure and development projects which are quickly transforming Delta’s economic identity.

The Property services an immediate trade area of 24,809 residents with an average household income of $126,022, 14.3% higher than Greater Vancouver’s average. Given its close proximity to downtown Vancouver, Ladner represents one of the most affordable housing markets in Vancouver’s surrounding submarkets and consequently, provides one of the highest disposable incomes in the region. Ladner is accessible by its neighboring municipalities via two major highways, Highway 17 and Highway 99, and is poised to benefit from the proposed George Massey Tunnel Replacement which will significantly improve the connectivity to surrounding municipalities. Ladner is located just 35 minutes from downtown Vancouver and 25 minutes from Vancouver International Airport.

• George Massey Tunnel Replacement Program ($3.5 B)

• Alex Fraser Bridge Improvement Project ($70M)

• Roberts Bank Container Expansion Program Terminal 2 ($2 B)

• Delta iPort Distribution Centre ($300M)

DOWNTOWNDELTA

LADNER CENTRE

HISTORICDOWNTOWN

AREA

DELTA IPORTDISTRIBUTION

CENTRETSAWWASSEN

SHORESTSAWWASSEN

MILLS & COMMONS

DELTA PORT(Roberts Bank

Terminal)

AGRICULTURAL LAND RESERVE

ATTRACTIVE TRADE AREA DEMOGRAPHICSThe Property is well-positioned to serve its affluent trade area which is projected to increase by 8.1% over the next five years. The trade area has an annual household income of $126,992, 14.3% higher than Greater Vancouver’s average household income.

INSTITUTIONALLY OWNED AND MANAGEDTrenant Park Square is institutionally owned and has been managed by Bentall Green Oak since 2003 with over $1,850,000 spent on capital improvements since 2005.

AVAILABLE CLEAR TITLEThe Property is available free and clear of any existing debt, allowing potential investors to capitalize on the low cost of debt environment.

16,571 LADNER TRUNK ROAD

VEHICLES TRAVELLING ALONG

Page 3: INVESTMENT OPPORTUNITY · commute from downtown Vancouver. Trenant Park Square represents a rare opportunity to acquire a market dominant, retail shopping centre in the established

PROPERTY SPECIFICATIONS

SITE PLAN

Location 5201 Ladner Trunk Road, Delta, BC

Property Type Grocery-Anchored Retail Centre

VendorInvestors Group Trust Co. Ltd. as Trustee for Investors Real Property Fund

Intersection Ladner Trunk Road and 53rd Street

Year Built 1989

Leasable Area 138,716 SF

Site Area 9.69 acres (422,104 SF)

Key Tenants

FreshCo., London Drugs, RBC, Dollarama, Starbucks, Bulk Barn, Subway, Cobs Bread, Snap Fitness, Kin’s Farm Market

Occupancy 98.3%

Parking 488 parking stalls (3.52 per 1,000 SF)

WALT 5.9 Years

5255

Avai

labl

e

5229CGood

Hound Training

5229ASuperior fish Market

Liberty Wine Merchants

Envision Financial

Side

Acc

ess L

ane

Site Office

Loading

Loading

Rear Access Lane

Side

Acc

ess L

ane

Clock Tower

Little KoalaMontessoriAcademy

5275

52675261B

5261

A

5259

52515249524752455241

5237

5229

B

5227

5225A/B

5223

5219A 5219

5217

5213

5211

5209

5207

5201

5205 5239

5263

A

5263B 5263D

5203

Ichi

ban

Fine

Dryc

lean

ing

Brav

a H

air

Salo

n

Tren

ant P

ark

Dent

al C

ente

r

5215Lux Foods

LADNER TRUNK ROAD

53R

D S

TREE

T

CEN

TRAL

AVE

NU

E

Tenant

Available Unit

Neighbouring Retail

NationalRegionalLocal

London DrugsDollaramaFreshCo.RBCBosley’s by Pet ValuOther Tenants

Tenancy Type by Base Rent Tenancy Profile by Base Rent

49%

16% 7%

4%

7%

13%40%

21%44%

Page 4: INVESTMENT OPPORTUNITY · commute from downtown Vancouver. Trenant Park Square represents a rare opportunity to acquire a market dominant, retail shopping centre in the established

I N V E S T M E N T O P P O R T U N I T Y

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PORT COQUITLAMPITT MEADOWS

COQUITLAM

PORT MOODY

NEW WESTMINSTER

SURREY

VANCOUVER

DOWNTOWNVANCOUVER

NORTH VANCOUVER

RICHMOND

BURNABY

BLAINE

LANGLEY

WHITE ROCK

DELTA

TRENANTPARK

SQUARE

VANCOUVERINTERNATIONAL

AIRPORT

DELTA PORT

BC FERRIESUS BORDER

UNITED STATESPOINT ROBERTS

For more information, please contact:

* Sales Representative **Personal Real Estate Corporation

Nick Macoritto*Executive Vice PresidentToronto+1 416 238 [email protected]

Brodie Henrichsen**Senior Vice PresidentVancouver+1 604 628 [email protected]

Matthew Smith*Executive Vice President, Practice LeadToronto+1 416 304 [email protected]

www.retailinvestment.ca | www.jll.ca

Kevin Douglas*Associate Vice PresidentVancouver+1 604 998 [email protected]

National Retail Investment Group