GROCERY-ANCHORED RETAIL PORTFOLIO · THE OPPORTUNITY JLL’s National Retail Investment Group is...
Transcript of GROCERY-ANCHORED RETAIL PORTFOLIO · THE OPPORTUNITY JLL’s National Retail Investment Group is...
T W O D O M I N A N T R E G I O N A L C E N T R E S W I T H A NU N M A T C H E D R O S T E R O F N A T I O N A L T E N A N C I E S
G R O C E R Y- A N C H O R E D R E T A I L P O R T F O L I O
DOWNTOWN DETROITAMBASSADOR BRIDGE
FUTURE SITE OF GORDIE HOWE BRIDGE
DOWNTOWN WINDSOR
UNIVERSITY OF WINDSOR
DEVELOPMENT SITE 1 (7.81 acres)
DEVELOPMENT SITE 2 (9.53 acres)
AMBASSADOR PLAZA
UNIVERSITY PLAZA
Tecumseh Road West
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THE OPPORTUNITY
JLL’s National Retail Investment Group is pleased to offer for sale a Grocery-Anchored Retail Portfolio comprised of two centrally located, dominant centres in Windsor, Ontario. Ambassador Plaza and University Plaza are strategically located across the street from each other on major arterial thoroughfares Huron Church Road and Tecumseh Road West. Both centres are located on corner lots providing premium visibility with traffic counts of over 64,000 vehicles daily.
The Portfolio totals 271,248 SF and is 96.6% leased, with 96.8% of the leased GLA represented by national tenancies. The assets boast a superior roster of tenants including Canadian Tire, FreshCo., Food Basics, Shoppers Drug Mart, Fit4Less, Dollarama, LCBO, Scotiabank, Bulk Barn, Dollar Tree, Pet Valu, CIBC, and Bank of Montreal. The Portfolio has an excellent combined weighted average lease term of 7.63 years.
In addition to the existing centres, the retail Portfolio includes two development sites totaling 17.34 acres. By being able to develop on these vacant lands, it gives the investor the opportunity to control any future developments in the immediate area.
The Portfolio benefits from a strategic location in a well-established area of Windsor in close proximity to major highways, the University of Windsor, and the U.S. border. The properties are surrounded by densely populated residential neighbourhoods and dominate their local market.
TOP TENANTS
Address 2700 Tecumseh Road West
GLA 136,964 SF
Site Area 12.49 acres
Key Tenants Canadian Tire, Shoppers Drug Mart, Food Basics, Dollarama, BMO
Occupancy 100%
Parking 779 parking stalls (5.8/1,000 SF)
WALT 7.90 Years
UNIVERSITY PLAZA
OFFERING PROCESS
Address 1550, 1556, 1600 – 1640 Huron Church Road
GLA 134,248 SF
Site Area 11.77 acres
Key Tenants FreshCo, Fit4Less, Dollar Tree, LCBO, CIBC Bulk Barn, Scotiabank, Wendy’s
Occupancy 94.6%
Parking 671 parking stalls (5.0/1,000 SF)
WALT 7.34 Years
Nick Macoritto*Vice PresidentNational Retail Investment Group+1 416 238 [email protected]
Matthew Smith*Executive Vice PresidentNational Retail Investment Group+1 416 304 [email protected]
retailinvestment.ca
PROPERTY SUMMARIES
JLL has been exclusively retained by First Capital Realty to seek proposals to acquire the Portfolio. Interested parties will be required to execute and submit the Vendor’s form of Confidentiality Agreement prior to receiving detailed information about the Portfolio. Additionally, interested parties will be invited to submit a Letter of Intent on a specific date that will be communicated by the Advisor at least fourteen (14) days in advance.
AMBASSADOR PLAZA
Neither the Seller nor the Listing Brokerage makes any representations 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 purchasers without independent investigation and verification. * Sales Representative