- Property size 164,441 ft2
1900 & 1960 Cyrville Road, Ottawa - retail for sale
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in 1900 and 1960 Cyrville Road (the “Property”). Situated on over 17.5 acres, the Property is improved with two freestanding commercial buildings comprised of 164,441 SF. The asset is fully leased to two prominent national covenants, Costco Business Centre and The Brick. The Property offers the investor secure future cash flow with contractual rental escalations and a weighted average lease term of 15.57 years. Costco has occupied the site for 30 years and The Brick for 22 years, proving themselves as long term, loyal tenants. Costco Business Centre accounts for 72.5% of annualized base rent and has term until October 2040. This is an extremely rare opportunity to acquire a freestanding Costco (in Canada, Costco owns the real estate for approximately 85% of their locations).
The Property is located in Gloucester, a suburb in the City of Ottawa. Ottawa has a population of over 1,030,000, and Greater Ottawa (Ottawa-Gatineau) has a population of approximately 1,450,000. The Property is surrounded by an abundance of top national retailers drawing visitors from across the region. It offers premium frontage and visibility and is easily accessible by vehicle and public transit being in close proximity to the city’s major thoroughfares and the province’s main highways. There is an interchange offering access to Highway 417 less than 400 metres away.