Vacant-User

601 Seventh Ave

Listing Price: $9,050,000

Cap Rate
3.50%
Gross SF
10,404
Rentable SF
10,404
Price/Gross SF
$869.86
Lot Size
0.16 acres
Year Built
2014

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. to facilitate the sale of 601 Seventh Avenue, New Westminster (the “Subject Property”). The Subject Property represents a rare opportunity to acquire a standalone, two-storey Rexall located on a high-profile intersection in New Westminster’s Uptown Core

Investment Highlights

  • High-exposure, single-tenant Rexall/Pharma Plus Pharmacies (BC) Ltd. located in New Westminster's Uptown Core
  • Long-term NNN lease with term until June 30, 2029, including a scheduled rent escalation in July 2024
  • Directly across the street from Orr Development's proposed 29 storey, 237 unit mixed-use high-rise

Exclusively Listed By

Listing Price: $9,050,000

Cap Rate
3.50%
Gross SF
10,404
Rentable SF
10,404
Price/Gross SF
$869.86
Lot Size
0.16 acres
Year Built
2014

Investment Highlights

  • High-exposure, single-tenant Rexall/Pharma Plus Pharmacies (BC) Ltd. located in New Westminster's Uptown Core
  • Long-term NNN lease with term until June 30, 2029, including a scheduled rent escalation in July 2024
  • Directly across the street from Orr Development's proposed 29 storey, 237 unit mixed-use high-rise

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. to facilitate the sale of 601 Seventh Avenue, New Westminster (the “Subject Property”). The Subject Property represents a rare opportunity to acquire a standalone, two-storey Rexall located on a high-profile intersection in New Westminster’s Uptown Core

Exclusively Listed By

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