317 Donald Street

Office for Sale
Catylist Listing ID: 30796484
Property Subtypes: Office Building
Building Size (RSF): 80,986 SF
Gross Building Area: See Agent
Gross Land Area: 0.53 Acres
Sale Price: $17,500,000
Unit Price: $216.09 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class B
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 5/16/2022

Overview / Comments

CW Stevenson Inc., operating as Cushman & Wakefield | Stevenson (“CWS”), is pleased to offer for sale a 100% freehold interest in 317 Donald Street (the “Property”), on behalf of Credit Union Central of Manitoba (the “Vendor”). The Property is well located in the Sport, Hospitality & Entertainment District (SHED) in downtown Winnipeg, is immaculately maintained and like new.
It also boasts a fully-tenanted rent roll offering attractive cash flow and returns to an investor. The Property is also a great opportunity for an owner-occupier as there is the ability for flexibility to free-up some square footage to be used by the owner if desired. The large floor-plate of over 16,000 square feet is a rarity in smaller office properties, making this an attractive and bite-sized acquisition while offering multiple scenarios for future lease-ability.

Opportunity to acquire below replacement cost
Cost of construction has increased drastically in the last couple of years, both materials and labour. Land pricing has increased since date of construction.

Stable cash flows with strong yields
Strong tenant roster with longer-term leases in place. Office investment properties are transacting at higher cap rates than other asset classes such as multi-family and industrial.

Historically low financing rates
Although there are indicators pointing to an increasing interest rate environment in 2022, rates are still at historically low levels offering attractive debt to investors.

Attachments & Media

Additional Details

Submarket/Township: 9A
Tax ID/APN: 13096060200
Zoning: C2
Property Visibility: Excellent

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