investment opportunity · commute from downtown vancouver. trenant park square represents a rare...
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I N V E S T M E N T O P P O R T U N I T Y
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
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%
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