Shopping Neighborhood
South Fraser Gate
32390 South Fraser Way, Abbotsford, BC V2T 0B5
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap REIS Canada Inc. has been engaged on an exclusive basis by the vendor to arrange for the disposition of 32390 South Fraser Way (“South Fraser Gate”) and 32346 South Fraser Way (the “Development Lands”), Abbotsford, B.C. (collectively, the “Subject Properties”). The Subject Properties present a rare opportunity to acquire a Shoppers Drug Mart-anchored, fully leased retail centre and/or an additional 0.90 acre parcel of land with latent development potential. The Subject Properties are situated in a rapidly evolving market, strategically located within an established retail node, and benefit from convenient accessibility for its surrounding residents and expanding population base.
South Fraser Gate
Investment Highlights
- Fully-leased retail property, tenanted by strong daily-needs services with additional 0.90 acre development parcel.
- Anchor Tenant, Shoppers Drug Mart accounts for 54% of the NOI and has recently renewed its lease term for a further five (5) years.
- C5 - City Centre Commercial designation zoning permits for mixed-use development of up to 2.75x FSR, allowing for over 384,000 SF of density over the Subject Properties.
- The Subject Properties fall within the City Centre Neighbourhood Plan which permits a base FSR of 2.5x with potential to achieve bonus density of 2.5x for residential development.
- A 15.30% population increase within 1km of the Subject Properties since 2015.
- Abbotsford is the fastest growing city in the Fraser Valley, making it the fifth largest municipality in B.C.
- Healthy average household income of $105,049 illuminating ample disposable income in Abbotsford for retail and discretionary uses.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Fully-leased retail property, tenanted by strong daily-needs services with additional 0.90 acre development parcel.
- Anchor Tenant, Shoppers Drug Mart accounts for 54% of the NOI and has recently renewed its lease term for a further five (5) years.
- C5 - City Centre Commercial designation zoning permits for mixed-use development of up to 2.75x FSR, allowing for over 384,000 SF of density over the Subject Properties.
- The Subject Properties fall within the City Centre Neighbourhood Plan which permits a base FSR of 2.5x with potential to achieve bonus density of 2.5x for residential development.
- A 15.30% population increase within 1km of the Subject Properties since 2015.
- Abbotsford is the fastest growing city in the Fraser Valley, making it the fifth largest municipality in B.C.
- Healthy average household income of $105,049 illuminating ample disposable income in Abbotsford for retail and discretionary uses.
Investment Overview
Marcus & Millichap REIS Canada Inc. has been engaged on an exclusive basis by the vendor to arrange for the disposition of 32390 South Fraser Way (“South Fraser Gate”) and 32346 South Fraser Way (the “Development Lands”), Abbotsford, B.C. (collectively, the “Subject Properties”). The Subject Properties present a rare opportunity to acquire a Shoppers Drug Mart-anchored, fully leased retail centre and/or an additional 0.90 acre parcel of land with latent development potential. The Subject Properties are situated in a rapidly evolving market, strategically located within an established retail node, and benefit from convenient accessibility for its surrounding residents and expanding population base.
Exclusively Listed By
