- Property size 91,350 ft2
Shoppers Drug Mart Portfolio - retail for sale
JLL’s National Retail Investment Group has been exclusively retained to seek offers to acquire a collection of four single tenant Shoppers Drug Mart assets on a portfolio or individual basis.
The Portfolio is comprised of four assets totaling 91,350 SF of leasable area, fully leased to Shoppers Drug Mart, a proven ‘AAA’ covenant. Shoppers Drug Mart is Canada’s leading pharmacy retailer with nearly 1,400 locations across the country. In 2013, Loblaw Companies acquired Shoppers Drug Mart Corporation for $12.4 Billion, with Shoppers Drug Mart becoming a unique and independent operating division of the company.
This Portfolio offers Buyers secure and increasing future cash flows with an excellent weighted average lease term of 10.5 years. The four assets in this Ontario-based Portfolio include: 1760 Huron Church Road, Windsor; 511 Huron Street, Stratford; 333 Dundas Street, Woodstock; and 703 Notre Dame Street, Embrun. Each Property has contractual rental escalation(s) throughout the lease terms.
The Properties are strategically located in their respective communities, situated on major arterial thoroughfares providing easy accessibility and high traffic flow. The Portfolio is distributed across well-established and/or growing markets throughout Ontario, where they draw from trade areas extending well beyond their local communities.
PORTFOLIO INVESTMENT HIGHLIGHTS
‘AAA’ COVENANT: Shoppers Drug Mart is Canada’s top pharmacy, headquartered in Toronto, Ontario. It has nearly 1,400 pharmacist-owned locations across the country, offering a wide range of health, beauty, and convenience products/services.
In 2013, Loblaw Companies acquired Shoppers Drug Mart Corporation for $12.4 Billion, with Shoppers being a unique and independent operating division of the Company. In 2016, Shoppers Drug Mart stores achieved annual sales of $12.2 Billion.
EXCELLENT INCOME SECURITY
This fully leased Portfolio offers investors stable and increasing cash flows and has a weighted average lease term of 10.5 years. The excellent lease expiry provides investors with a secure income stream over the investment holding period. In addition, the Portfolio offers contractual rental escalations throughout each Property’s lease term.
TRIPLE NET LEASED ASSETS
This Portfolio provides investors with an extremely rare opportunity to acquire a fully-leased collection of well-performing, high quality Shoppers Drug Mart assets with triple net leases.
The Properties are well-designed with ample parking, premium visibility and multiple access points. All four Properties within the Portfolio are “Daily Needs Retail” and serve as frequent destinations for residents of the surrounding communities.
AVAILABLE FREE & CLEAR
The Portfolio is available free and clear of any debt, allowing the investor to secure new financing at preferred rates and terms from their lender of choice in today’s attractive debt market.