Retail Investment Opportunity in Morden

Shopping Center for Sale
Catylist Listing ID: 30171426
Property Subtypes: Strip Center
Building Size (RSF): 34,742 SF
Gross Land Area: 2.30 Acres
Sale Price: $3,900,000
Unit Price: $112.26 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 2/16/2018

Overview / Comments

Colliers International is pleased to offer for sale a 100% freehold interest in an established retail shopping centre located at 288-302 North Railway Street in Morden, Manitoba.
The subject property is located in the heart of Morden’s downtown shopping node and, at an offering price of only $112 per rentable square foot, offers investors the opportunity to purchase a proven retail property in a strong rural Manitoba community.
Property Features

• Shoppers Drug Mart and Giant Tiger anchored strip centre located in Morden’s downtown shopping node;
• Province of Manitoba’s lease extending to 2035 accounts for 40% of projected gross revenue, while national retailers Shoppers Drug Mart and Giant Tiger account for a further 48%;
• Morden is a vibrant community located in one of Canada’s fastest growing municipalities with a population of 8,500 and a trade area which services over 50,000 people; and
• Clear of financial encumbrances.

Offered for sale at $3,900,000 ($112 per rentable square foot) with all offers to be considered by the Vendor as received. A Confidential Investment Memorandum is available to qualified purchasers upon execution of a Confidentiality Agreement. Please contact Colliers at (204) 943-1600 for more information or visit www.collierscanada.com/winnipeg

Additional Details

Nearest MSA: Winkler
Market: Winnipeg
Submarket/Township: R35
Zoning: CC - CENTRAL COMMERCIAL


Contact

Photograph of Listing Agent

Brian Taillieu

Colliers International - Brian Tailleu
CPIX® Member
Photograph of Listing Agent

Donald White

Colliers International - Don White
CPIX® Member
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