Office
32525 SIMON AVENUE, ABBOTSFORD, BC
32525 Simon Ave, Abbotsford, BC V2T 6T6
Listing Price: $10,500,000
Investment Overview
Marcus & Millichap is pleased to present for sale 32525 Simon Avenue, Abbotsford, BC (the "Subject Property"). The Subject Property represents a rare opportunity to acquire a fully leased, government-anchored office building in the heart of Abbotsford's rapidly transforming City Centre. The Property offers the ability for prospective purchasers to secure premium office space for their own occupancy, collect stable government-backed income, and benefit from significant long-term redevelopment upside under the highest density land use designation in all of Abbotsford.
The building is 100% leased to four tenants, anchored by the Government of Canada and the Province of British Columbia, collectively occupying over 80% of the building. Staggered lease expiries over the next two to three years present a user with a clearly defined path to occupying meaningful square footage while enjoying secured holding income throughout. For the investor, these same expiries represent an opportunity to relet at materially higher market rents in a supply-constrained office market, or to capitalize on the property's City Centre Residential land use designation and develop the site to its full density potential.
The Subject Property sits directly across the street from Auburn by Diverse Properties, a 134-unit mixed-use six-storey development currently under construction which demonstrates the momentum of Abbotsford's City Centre and the caliber of the immediate neighbourhood.
32525 SIMON AVENUE, ABBOTSFORD, BC
Investment Highlights
- 100% Leased, Fully Occupied — four tenants with staggered near-term expiries providing a defined path to owner occupancy, re-leasing at market rates, or both.
- Canada (ESDC) and the Province of BC occupy 80% of the building, delivering one of the strongest government covenants in the market.
- All in-place net-lease rents sit below market, creating a compelling opportunity to mark rents to market at each renewal or turnover.
- Designated City Centre Residential in the Abbotsforward 2050 OCP, supporting 2.75–6.5 FSR through available bonus density programs.
- Major redevelopment underway, including Auburn's 134-unit mixed-use project across the street, highlighting rapid City Centre growth.
- 21,752 SF purpose-built office on a 24,984 SF lot with a strong government occupancy history, ideal for professional or owner-user control.
Exclusively Listed By
Listing Price: $10,500,000
Investment Highlights
- 100% Leased, Fully Occupied — four tenants with staggered near-term expiries providing a defined path to owner occupancy, re-leasing at market rates, or both.
- Canada (ESDC) and the Province of BC occupy 80% of the building, delivering one of the strongest government covenants in the market.
- All in-place net-lease rents sit below market, creating a compelling opportunity to mark rents to market at each renewal or turnover.
- Designated City Centre Residential in the Abbotsforward 2050 OCP, supporting 2.75–6.5 FSR through available bonus density programs.
- Major redevelopment underway, including Auburn's 134-unit mixed-use project across the street, highlighting rapid City Centre growth.
- 21,752 SF purpose-built office on a 24,984 SF lot with a strong government occupancy history, ideal for professional or owner-user control.
Investment Overview
Marcus & Millichap is pleased to present for sale 32525 Simon Avenue, Abbotsford, BC (the "Subject Property"). The Subject Property represents a rare opportunity to acquire a fully leased, government-anchored office building in the heart of Abbotsford's rapidly transforming City Centre. The Property offers the ability for prospective purchasers to secure premium office space for their own occupancy, collect stable government-backed income, and benefit from significant long-term redevelopment upside under the highest density land use designation in all of Abbotsford. The building is 100% leased to four tenants, anchored by the Government of Canada and the Province of British Columbia, collectively occupying over 80% of the building. Staggered lease expiries over the next two to three years present a user with a clearly defined path to occupying meaningful square footage while enjoying secured holding income throughout. For the investor, these same expiries represent an opportunity to relet at materially higher market rents in a supply-constrained office market, or to capitalize on the property's City Centre Residential land use designation and develop the site to its full density potential. The Subject Property sits directly across the street from Auburn by Diverse Properties, a 134-unit mixed-use six-storey development currently under construction which demonstrates the momentum of Abbotsford's City Centre and the caliber of the immediate neighbourhood.
Exclusively Listed By
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