- Property size 252,410 ft2
Downtown Chatham Centre, Chatham - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in Downtown Chatham Centre (the “Property”), a 252,410 SF shopping centre situated on 8.88 acres in the heart of downtown Chatham. The Property is currently 30.5% occupied and anchored by Hart Stores, Dollarama and Fit 4 Less (GoodLife). Downtown Chatham Centre is the only enclosed shopping centre within its trade area and offers the Purchaser an exceptional opportunity to increase cash flow over time by repositioning and intensifying the Property. Value-add opportunities include leasing up vacant space to quality tenants and adding mixed-use density to the site. The site also offers significant redevelopment potential, given its prominent location in the centre of Downtown Chatham and recent development precedents. For example, a 10-storey residential tower named The Boardwalk was constructed next to the Centre in 2020 and is set for occupancy in March 2021.
This site offers excellent exposure, access, and visibility while in-place zoning provides for a number of uses. The local government is supportive of change at the Property and the new Community Improvement Plan (CIP) in place provides incentives for redevelopment.
Chatham-Kent is centrally located between Windsor, Sarnia and London in Southwestern Ontario with a population of approximately 104,000 residents. The municipality is in close proximity to major markets, conveniently located near Highway 401 and the Windsor/Detroit border crossing, with access to three US border crossings and two international airports all within a one-hour drive of the municipality.
- The Property offers the Purchaser a significant redevelopment opportunity given its prominent location in the centre of Downtown Chatham and access to transportation networks.
- A 13-storey residential tower was built next to the Centre in 2020, a redevelopment of former streetfront retail.
- The municipality of Chatham-Kent has access to an expansive workforce with over 1 million Canadians living within a one-hour drive of its borders.
- Over 41,000 residents live within a 3 km radius of the site.