- Property size 20,014 ft2
1390 Riverside Drive, Timmins - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in 1390 Riverside Drive (the “Property”). The Property is situated on a prime 2.1-acre corner lot at the busy intersection of Riverside Drive (Highway 101) and Shirley Street North in Timmins, Ontario. The Property consists of a 20,014 SF freestanding Best Buy which has a remaining lease term of 3.0 years. The asset is well-designed with premium visibility, ample parking, and multiple access points. This is the only Best Buy location in Timmins and it services an even larger trade area.
The Property is located in Timmins’ most dominant retail node, situated adjacent to Timmins Square, the region’s largest mall anchored by No Frills, Winners, Sport Chek, Mark’s, and Urban Planet. Other notable national retailers in the immediate area include Walmart Supercentre, Home Depot, Canadian Tire, Staples, and Home Hardware, all of which draw visitors from across the region. 1390 Riverside Drive is easily accessible by vehicle and well-serviced by the City’s public transportation system.
- The Property is located adjacent to Timmins Square and enjoys the additional high traffic draw generated by shadow anchors No Frills, Winners, Sport Chek and others.
- The investment provides very secure cash flow, tenanted by a proven ‘AAA” covenant. Best Buy has experienced outstanding revenue growth of 23% between 2019 and 2020.
- This commercial node is surrounded by densely populated residential neighbourhoods with over 31,000 residents living within 5 km of the site. This population has an average household income of $96,920 (2020).
- The City of Timmins has a population of 42,000 residents and serves as a prominent retail and service node supporting a catchment area of over 150,000 residents.