- Property size 137,818 ft2
FOR SALE - 220 Chain Lake Drive, Halifax - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in 220 Chain Lake Drive, a retail centre located in the heart of one of Halifax’s most dominant retail nodes, Bayers Lake Business Park. Comprised of 137,818 SF, the centre is fully leased and anchored by a strong performing Walmart Supercentre with approximately 7 years remaining on its current term plus options. The Walmart was recently remodeled (2012/2013) into its Supercentre format to meet the growing needs of its loyal consumer base. The property boasts a quality tenant roster and offers secure future cash flow with a Weighted Average Lease Term of 6.64 Years, with 97.1% of leased GLA being national tenancies.
The property is surrounded by the country’s most sought after destination and convenience retailers including Costco, The Home Depot, Canadian Tire, Kent Building Supplies, Atlantic Superstore, Winners, Staples, The Brick, Michael’s, and many more. The site benefits from shared access with Costco and The Atlantic Superstore, allowing visitors of any of the properties to easily access the site.
In close proximity to many major arterial thoroughfares and highways, the site is easily accessible by both vehicle and public transit from across the region. This retail node is in close proximity to many densely populated residential neighbourhoods with over 38,000 residents living within a 3 km radius of the site.
- Located in the heart of Bayers Lake Business Park, the property is near the exit from Highway 102, the main entrance to the retail node.
- The City has ambitious growth plans for the next three years and Halifax’s Five-Year Economic Growth Plan for 2016-2021 estimates the population to be 470,000 by 2021 (1.7% growth rate per year), further enhancing Bayers Lake market catchment.
- The site is surrounded by the country’s most dominant national retailers, drawing consumers from across the city and province. Many institutional investors own retail centres in this highly sought after retail node.
- The property offers premium visibility from Chain Lake Drive (approx. 700 ft of frontage) and capitalizes on shared access with the adjacent Costco and Atlantic Superstore.