- Property size 776,761,920.00 ac
FOR SALE: Midland Gate Shopping Centre - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in Midland Gate Shopping Centre, a retail centre comprised of 17,832 SF which is currently 77.1% leased with national tenants representing 81.3% of occupied space. The Property is leased to a diverse tenant mix including Party City, Lucy Hair Studio, and Caylx + Trichomes with a weighted average lease term of 6.80 years.
The site is a large 3.88 acre lot which includes 1.574 acres of excess land that can be further developed. The development lands are fully serviced and site plan approved, allowing for 20,144 SF of additional density.
Midland Gate is located in one of Kingston’s most dominant retail nodes, highlighted by Cataraqui Centre (the largest shopping centre in southeastern Ontario, approx. 600 metres away), adjacent to LCBO (the highest performing LCBO east of Toronto) and directly across the street from Kingston Walmart Supercentre (the only Walmart in Kingston) and The Beer Store. The immediate area is home to an influx of national destination and convenience retailers drawing consumers from across the region.
The site is easily accessible by car and public transportation, being in very close proximity to the Highway 401 interchange, and Princess Street, one of Kingston’s primary arterial thoroughfares. Over 34,000 residents live within a 3 km radius of the site with an average household income of $103,553.
- Midland Gate offers premium visibility and signage from Midland Avenue, a busy thoroughfare which provides direct connection to Highway 401 and Princess Street.
- The site is located directly across the street from Kingston Walmart Supercentre, creating an enormous draw for consumers to the Property.
- Midland Gate offers the investor 1.574 acres of excess land which is fully serviced and site plan approved, allowing for 20,144 SF of additional density to the current site.
- Midland Gate is surrounded by numerous affluent, established residential neighbourhoods with over 34,000 residents living within a 3 km radius of the site with an average household income of $103,553.