- Property size 124,196 ft2
UNDER CONTRACT: Galeries de la Capitale Côté Nord, Quebec - alternatives for sale
JLL has been retained on an exclusive basis to arrange the sale of a property containing six retail buildings located immediately adjacent to Les Galeries de la Capitale, Québec City’s premier retail destination and the second largest shopping complex in the province. The offering consists of a 100 percent freehold interest in 1450-1580 Lebourgneuf Boulevard and a 100 percent freehold interest in the land located at 1600 Lebourgneuf Boulevard, both situated in the Les Rivières borough of Québec City (the “Asset”, the “Property”, or “Les Galeries de la Capitale Côté Nord”).
This investment opportunity is comprised of 124,196 square feet of prime retail space, occupied by 10 tenants. The Property is phenomenally located in close proximity to Les Galeries de la Capitale and adjacent Walmart, benefiting from excellent visibility and traffic driven by destination retailers and entertainment offerings. The Asset is fully-leased to a diverse mix of national and provincial retailers, which include The Brick, Archambault, Golf Town, Corbeil and EQ3, with national and provincial retailers making up 95.8 percent of the Property. Furthermore, the ongoing residential intensification within this node could also support intensification of the Property in the future.
With a weighted average lease term of over 9 years and 100 percent occupancy, the Property’s incomestream represents a secure cash flow over a long-term horizon.
Les Galeries de la Capitale is Québec City’s premier shopping destination and the second largest shopping centre in the province. As a result, the Property benefits from premium exposure to 550,000 vehicles daily, generated by the adjacent destination retail and entertainment offering that includes Walmart, Simons, Hudson’s Bay, Best Buy, Rona, Atmosphère / Sports Experts, along with the region’s only MEC, IMAX and the Méga-Parc, the second largest indoor amusement park in Canada.
In summary, the Property represents a unique opportunity to acquire a phenomenal retail site shadowanchored by the Galeries de la Capitale super regional mall and a Walmart centre, located in a major retail node with a resilient and stable cash flow profile which benefits from an unparalleled location in one of Canada’s most stable economies.
- Well-Located, High-Quality Retail Asset: A high-quality retail asset, comprised of 6 buildings and totalling 124,196 SF, shadow-anchored by the Galeries de la Capitale super regional mall and a Walmart centre.
- A Strong and Diversified Tenancy Profile: Predominantly leased to national and provincial retailers, including The Brick, Golf Town, Corbeil, EQ3, Bank of Montreal and Archambault, the Property features a weighted average lease term of over 9 years.
- Resilient Cash Flow and Strong Financial Metrics: 100% leased: Over 95% of revenues are generated by national and provincial tenants.
- Phenomenal Location Near Major Accessways and a Densifying Residential Node: Great corner location near important thoroughfares in a fast-growing residential sector.
- Irreplaceable Retail Node Location: Shadow-anchored by the Galeries de la Capitale super regional mall, Quebec City’s largest retail node and the second largest shopping complex in the province.
- Booming Market: Les Rivières and Québec City: Quebec City is one of Canada’s most stable and dynamic markets which the Les Rivieres borough is characterized by excellent economic metrics and a strong demographic profile.