Shopping Neighborhood
Parallel Marketplace
1920 N Parallel Rd, Abbotsford, BC V3G 2C6
Listing Price: Request For Offer
Investment Overview
Parallel Marketplace, located at 1920 North Parallel Road, Abbotsford, B.C. (the “Subject Property or “Parallel Marketplace”) represents a 100% leased grocery-anchored open-air centre, positioned in one of the fastest growing communities within the Fraser Valley.
Specifically, the Subject Property represents exceptional opportunity to acquire a freehold retail centre comprising over 72,000 square feet of retail space anchored by Otter Co-Op Food and Pharmacy Store, Co-Op Liquor (Angry Otter), and the Bank of Montreal. The centre is comprised of four buildings constructed in 2010, and there is potential for a fifth building of approximately 1,900 SF along North Parallel Road.
Parallel Marketplace is located in the growing community of Lower Sumas Mountains. The Subject Property is positioned to service and capitalize on the shopping needs of the residents in Lower Sumas Mountains and McMillan. Residents within this area possess a strong average household income of $141,701, indicating a strong spending power within the immediate area.
Investment Highlights
- 100% LEASED RETAIL CENTRE. Parallel Marketplace includes a well-diversified tenant mix, featuring several 'daily needs retail' services, inclusive of professional services, fitness, coffee, and more.
- ABILITY TO ASSUME ATTRACTIVE IN-PLACE DEBT. 2.71% interest rate and maturity of March 1st, 2028.
- OVER 72,000 SF OF RETAIL and potential to build an additional 1,900 SF pad, well suited for Quick Service Restaurant / Drive-Thru.
- POSITIONED TO SERVICE RESIDENTS OF MCMILLAN AND LOWER SUMAS MOUNTAIN. Within a 1KM radius, the immediate area has experienced a 16.20% growth rate (2022-2027).
- EXCELLENT DEMOGRAPHICS. Located at the intersection of Old Yale Road and North Parallel Road. Its proximity to Highway I provides excellent vehicular visibility.
- VALUE ADD POTENTIAL. Positioned for long-term value enhancement through mixed-use redevelopment, offering an opportunity to maximize returns and capitalize on evolving market demands.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- 100% LEASED RETAIL CENTRE. Parallel Marketplace includes a well-diversified tenant mix, featuring several 'daily needs retail' services, inclusive of professional services, fitness, coffee, and more.
- ABILITY TO ASSUME ATTRACTIVE IN-PLACE DEBT. 2.71% interest rate and maturity of March 1st, 2028.
- OVER 72,000 SF OF RETAIL and potential to build an additional 1,900 SF pad, well suited for Quick Service Restaurant / Drive-Thru.
- POSITIONED TO SERVICE RESIDENTS OF MCMILLAN AND LOWER SUMAS MOUNTAIN. Within a 1KM radius, the immediate area has experienced a 16.20% growth rate (2022-2027).
- EXCELLENT DEMOGRAPHICS. Located at the intersection of Old Yale Road and North Parallel Road. Its proximity to Highway I provides excellent vehicular visibility.
- VALUE ADD POTENTIAL. Positioned for long-term value enhancement through mixed-use redevelopment, offering an opportunity to maximize returns and capitalize on evolving market demands.
Investment Overview
Parallel Marketplace, located at 1920 North Parallel Road, Abbotsford, B.C. (the “Subject Property or “Parallel Marketplace”) represents a 100% leased grocery-anchored open-air centre, positioned in one of the fastest growing communities within the Fraser Valley. Specifically, the Subject Property represents exceptional opportunity to acquire a freehold retail centre comprising over 72,000 square feet of retail space anchored by Otter Co-Op Food and Pharmacy Store, Co-Op Liquor (Angry Otter), and the Bank of Montreal. The centre is comprised of four buildings constructed in 2010, and there is potential for a fifth building of approximately 1,900 SF along North Parallel Road. Parallel Marketplace is located in the growing community of Lower Sumas Mountains. The Subject Property is positioned to service and capitalize on the shopping needs of the residents in Lower Sumas Mountains and McMillan. Residents within this area possess a strong average household income of $141,701, indicating a strong spending power within the immediate area.