re: sevenoaks shopping centre - 32900 south …...32900 south fraser way, abbotsford b.c. for sale...
TRANSCRIPT
1021 West Georgia Street Suite #2500 Vancouver, BC V6E 0C3 T 604-662-3000 F 604-684-9368 www.cbre.ca
October 29, 2015 Re: Sevenoaks Shopping Centre - 32900 South Fraser Way, Abbotsford, British Columbia CBRE Limited is pleased to present the opportunity to acquire Sevenoaks Shopping Centre, the dominant regional mall in the East Fraser Valley. Situated on 35 acres in the heart of Abbotsford’s burgeoning downtown core, Sevenoaks is a vital community cornerstone and the area’s premier retail destination. Strategically located on Abbotsford’s busiest commercial thoroughfare, this retail offering comprises an enclosed mall and one free-standing pad space totaling 567,830 SF of rentable area. A generous 1,122 feet of frontage along South Fraser Way provides this Property with exceptional exposure to the high volume of daily vehicle traffic as well as synergy with nearby retail centres and high-density residential developments. Property highlights:
98.8% occupied, with 87% comprising an ideal mix of notable brand name national and regional
retailers who are well-suited to serve the daily shopping needs of area residents;
Impressive quality covenant anchor tenants such as Hudson’s Bay, Sears, Sport Chek, Best Buy, CIBC and Loblaws;
High-visibility exposure to over 30,300 vehicles travelling along South Fraser Way each day;
Superior transit connectivity with four major bus stops and the Bourquin Exchange Bay located directly adjacent to the Property;
Loyal and affluent customer base – almost half of Sevenoak’s primary consumers visit the mall between 5 and 20 times per month and have an average household income of $94,848;
Future mixed-use commercial/residential development opportunity with up to 2.75x FSR density as per the
zoning bylaw.
Sevenoaks Shopping Centre is uniquely poised to take advantage of the rapid population growth and residential densification that is transforming Abbotsford from a suburban enclave into a vibrant urban destination. If you have interest in this Offering and would like to receive more detailed information, please contact Anna at [email protected] for a Confidentiality Agreement. Sincerely, CBRE Limited – Canadian Capital Markets National Investment Team
Peter Senst President 416.815.2355 [email protected]
Hillel Abergel Vice President 416.815.2324 [email protected]
Jim Szabo Personal Real Estate Corporation Vice Chairman 604.662.5125 [email protected]
Tony Quattrin Personal Real Estate Corporation Vice Chairman 604.662.5154 [email protected]
SEVENOAKS SHOPPING CENTRE
The Dominant Regional Mall in the East Fraser Valley 32900 South Fraser Way, Abbotsford B.C.
FOR SALE
For more information:
Tony Quattrin Personal Real Estate Corporation Vice Chairman National Investment Team - Vancouver 604-662-5154 [email protected]
Jim Szabo Personal Real Estate Corporation Vice Chairman National Investment Team - Vancouver 604-662-5125 [email protected]
1021 West Hastings I Suite 2500 I Vancouver, BC V6E 0C3 I www.cbre.ca
www.cbre.ca
+ Located at Abbotsford’s busiest commercial intersection
+ 98.8% occupied
+ Anchored by Hudson’s Bay, Sears, Shoppers Drug Mart, Sport Chek, Best Buy, CIBC and Loblaws
+ Exceptional street exposure of 1,122 feet along South Fraser Way
+ 87% occupied by national
and international tenants
+ Development upside opportunity
Peter Senst President Canadian Capital Markets National Investment Team - Toronto 416-815-2355 [email protected]
Hillel Abergel Vice President National Investment Team Toronto 416-815-2324 [email protected]
SEVENOAKS SHOPPING CENTRE
The premier retail destination in the heart of downtown Abbotsford
+ Total net rentable area of 567,830 SF on 35 acres of land;
+ 6 separate access points and over 100 stores and services;
+ Quality covenant anchor tenants including Hudson’s Bay, Sears,
Shoppers Drug Mart, Sport Chek, Best Buy, CIBC and Loblaws;
+ Over 5 million shoppers each year.
Overview:
Development Opportunity:
Local 13%
National 44%
International 43%
Occupancy Breakdown by Tenant Type
132,062 SF
136,157 SF
30,000 SF
24,372 SF
48,483 SF
Site Size: 35 Acres (1,522,100 SF)
Approved Density: 1.75x FSR for commercial / residential (This can be further increased by an additional 1.0x FSR for a total of 2.75x FSR if all required new and replacement parking is provided underground.)
Height Restriction: 6 Storeys
Maximum Potential Gross Buildable Area: 4,185,775 SF
Existing Gross Rentable Area: 681,396 SF*
Maximum Potential Excess Density Available: 3,504,379 SF
Future potential to build over 4.1M SF on the 35 acre property.
BOURQUIN TRANSIT
EXCHANGE
*Gross Rentable Area represents a 20% increase applied to Net Rentable Area.
Primary Trade Area Population 217,018 Number of Households 54,750 Average Household Income $94,848 Secondary Trade Area Population 108,986 Number of Households 30,138 Average Household Income $103,390 Traffic Annual Pedestrian Traffic 5,099,327
CIVIC ADDRESS: 32900 South Fraser Way, Abbotsford B.C.
LEGAL DESCRIPTION: Lot: A Sec: 21 Twn: 16 Plan: 86193
PID: 016-324-447
SITE SIZE: 34.94 Acres
FRONTAGE: 1,122 Feet
NET RENTABLE AREA: 567,830 SF
PARKING 2,626 stalls (4.62 stalls per 1,000 SF)
OCCUPANCY: 98.8%
ZONING: C5 – City Commercial Zone
FY1 STABILIZED NOI: $12,331,183*
WALE: 4.58 Years
Property Summary:
+ Prime Downtown Abbotsford location, benefitting from excellent accessibility and synergy with other retail shopping centres and high-density residential developments;
+ Strategically located at the corner of Gladwin Road and South Fraser Way - one of the busiest commercial corridors in Abbotsford;
Abbotsford Market Highlights:
48% of Sevenoaks’ primary consumers visits the mall 5 - 20 times per month and has an average household income of $94,848.
+ The primary commercial centre serving the entire Fraser Valley;
+ Home to 50% of the Fraser Valley’s residential population;
+ Offering a major university, state-of-the-art hospital and the Abbotsford International Airport - Greater Vancouver’s second largest airport;
+ Currently undergoing rapid urban growth and densification.
SEVENOAKS SHOPPING CENTRE
32900 South Fraser Way, Abbotsford B.C.
30,328 Daily Traffic count
1,122 Feet of Frontage
4 Major Bus Stops
6 Access Points
51% Population Growth Since 1991.
Market Demographics:
Property Highlights:
Local 13%
National 44%
International 43%
Occupancy Breakdown by Tenant Type + High-visibility exposure with 1,122 feet
of frontage along South Fraser Way;
+ Superior transit connectivity with the adjacent Bourquin transit exchange providing access to the Mission Connector, Clearbrook and the University of the Fraser Valley.
Tranche 1 Loan Amount $47,000,000
Term/Amortization 10 years / 30 years
Interest Rate 5.035%
Annual Payment $3,021,811
Maturity Date February 2017
OSB as of January 1, 2016
$39,475,466
Financing:
FINANCING
Existing Mortgage
LENDER Manulife
INITIAL OSB $25,000,000
OSB
$23,411,967
START DATE June 2013
MATURITY DATE
May 2023
LOAN TERM 10 Years
AMORTIZATION
25 Years
INTEREST RATE* 4.02%
Tranche 2 Loan Amount $10,000,000
Term/Amortization 8 years / 28 years
Interest Rate 6.223%
Annual Payment $749,910
Maturity Date February 2017
OSB as of January 1, 2016
$8,869,844
LENDER: Great West Life
*Subject to change
SEVENOAKS SHOPPING
CENTRE
www.cbre.ca/abcdefg
Quibus illum letatio scisco si duis zelus cui brevitas. Ut et quia nostrud tego patria ille elit erat. agna praesent minim haero. Olim bis enim et veniam quae feugiat inhibeo occuro reprobo. Enim vel loquor ratis epulae feugiat ad vero caecus consectetuer sed.
+ Bullet Content
- Bullet Content
+ Bullet Content
- Bullet Content
+ Bullet Content
- Bullet Content
+ Bullet Content
- Bullet Content
YOUR HEADING_CAPS
SUB-HEADING_CAPS
FOR LEASE_CAPS ANYWHERE STREET_CAPS
City, PR A1A 2B2 PROPERTY NAME HERE_CAPS
1234
SEVENOAKS SHOPPING CENTRE
The Dominant Regional Mall in the East Fraser Valley 32900 South Fraser Way, Abbotsford B.C.
FOR SALE
For more information:
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.
Tony Quattrin Personal Real Estate Corporation Vice Chairman National Investment Team - Vancouver 604-662-5154 [email protected]
Jim Szabo Personal Real Estate Corporation Vice Chairman National Investment Team - Vancouver 604-662-5125 [email protected]
Peter Senst President Canadian Capital Markets National Investment Team - Toronto 416-815-2355 [email protected]
Hillel Abergel Vice President National Investment Team - Toronto 416-815-2324 [email protected]