Retail Investment / Redevelopment Opportunity

Shopping Center for Sale
Catylist Listing ID: 30727610
Property Subtypes: Regional Mall
Building Size (RSF): 148,800 SF
Gross Building Area: See Agent
Gross Land Area: 4.11 Acres
Sale Price: $6,795,000
Unit Price: $45.67 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 4/30/2021

Overview / Comments

Avison Young is pleased to offer for sale 100% interest in The Town Centre. An outstanding opportunity to purchase a substantial mixed use complex located in
the heart of Downtown Brandon.

With 20 existing tenants in place and a total building rentable area of 148,800 sf, The Town
Centre is a sizable asset offering a stable in-place income with significant lease-up and redevelopment upside. The property is situated on 4.11 Acres of land with two levels of owned parking comprising approximately 500 parking stalls. Prairie Mountain Health has been the anchor tenant in the property for over 20 years (1999) and with their significant build-out and massive work force is expected to continue in the property for the foreseeable future.

The Town Centre offering represents an outstanding investment opportunity for value-add buyers to step into the place of the existing owner and repurpose the existing property to maximize its utilization. With the existing tenants covering the majority of the operating costs of the property, the new owner/developer can invest its time and energy into righting the asset without having to carry significant costs in the meantime. The property is offered for sale at $6,795,000 ($45.67 psf).

Additional Details

Nearest MSA: Brandon
Market: Winnipeg
Tax ID/APN: 485805.000
Zoning: DMU

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Contact

Photograph of Listing Agent

Jamie McPetrie

Avison Young Commercial R.E.(Manitoba)
CPIX® Member
Photograph of Listing Agent

Steven Paulus

Avison Young Commercial R.E.(Manitoba)
CPIX® Member
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