- Property size 52,112 ft2
Bell Tower Marketplace, Belleville - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in Bell Tower Marketplace, a mixed-use plaza comprised of 52,112 SF. The plaza is located in the heart of a strong and well-established retail node, diagonally across from from Quinte Mall which attracts nearly 4,000,000 visitors annually. The plaza is currently 89% leased with 53.3% of occupied space represented by national tenants including Pet Valu, Sun Life Financial, Mattress Mart, Allstate Insurance, and Weight Watchers. The Property offers the investor secure cash flow with a weighted average lease term of 3.24 Years.
This retail node is strategically located just off of Highway 401 with an on/off ramp at North Front Street (Highway 62), and is easily accessible by public transportation. Surrounding this node are densely populated residential neighbourhoods with over 27,000 residents living within a 3 km radius. This area of Belleville is considered to be a strong entertainment node, home to the region’s major attractions including Quinte Sports and Wellness Centre (Yardmen Arena) and the new Shorelines Casino, which draw consumers from across the region.
Situated on a prime 4.38 acre corner lot, the site capitalizes on premium visibility and access from both Bell Boulevard and North Front Street, while achieving an ample parking ratio of 5.5 stalls/ 1,000 SF of GLA.
- Belleville offers a central location in close proximity to major markets in both Canada and the U.S including Toronto, Montreal and Ottawa.
- Located in the heart of Belleville’s dominant retail and entertainment node, the site has seamless access to the surrounding region with an on/off ramp located at Highway 401 & North Front Street, and is easily accessible by the City’s public transportation system.
- This retail node services a trade area of over 210,000 people and national retailers are highlighted by Canadian Tire, Cineplex, The Home Depot, LCBO, Best Buy, Walmart, No Frills, Michaels, Value Village, The Brick, Lowe’s, and Rona.
- Net rents at the plaza are under market compared to the immediate trade area. There is an opportunity to increase rents over time through re-leasing and increasing some of the current tenants’ rent upon renewal.