- Property size 138,716 ft2
FIRM: Trenant Park, Delta, BC - retail for sale
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.
DOMINANT SHOPPING CENTRE
The 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 TENANCIES
The Property provides a strong long-term income stream and features an attractive weighted average lease to expiry of 5.93 years. Collectively, over 84% of the centre’s base rent is derived from regional and national tenants.
ATTRACTIVE TRADE AREA DEMOGRAPHICS
The 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.
STRATEGICALLY LOCATED, EFFICIENT INGRESS / EGRESS
Strategically 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.
INSTITUTIONALLY OWNED AND MANAGED
Trenant 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 TITLE
The Property is available free and clear of any existing debt, allowing potential investors to capitalize on the low cost of debt environment.