Single Tenant Investment Opportunity

Industrial for Sale
Catylist Listing ID: 30193721
Property Subtypes: Manufacturing
Building Size (RSF): 122,675 SF
Gross Land Area: 281,848 SF
Sale Price: $9,500,000
Unit Price: $77.44 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 7/17/2018

Overview / Comments

Colliers’ National Investment Services in Winnipeg is pleased to announce that it has been retained to act as the exclusive agent in the sale of 680-692 Mission Street in Winnipeg, Manitoba. This single tenant investment property is occupied by Carfair Composites Inc., a vertically integrated and wholly owned subsidiary of NFI Group Inc., formerly New Flyer Industries Inc., and features a long term lease extending until December 2022.

Features

1. A long-term lease (until Dec. 2022) with Carfair Composites Inc., a vertically integrated and wholly owned subsidiary of NFI Group Inc., offering prospective purchasers a financially stable, high quality income stream;
2. Located in the Mission Industrial Area of St. Boniface with convenient access to Lagimodiere Boulevard (Hwy 59), and New Flyer’s manufacturing facility at 711 Kernaghan Avenue in Transcona;
3. Significant completed and planned capital reinvestment with approx. $2.3M spent on building system improvements and renovations since 2005;
4. Tenant is currently embarking on a $1.8M Phase 1 plant level upgrade project with additional phases planned in the near term; and
5. Offered clear of mortgage and management encumbrances.

Offered for sale at $9,500,000 (6.8% Yield on Year 1 Net Income). A Confidential Information Document is available to qualified purchasers upon execution of a Confidentiality Agreement. All offers to purchase are to be submitted to Colliers International and will be considered by the Vendor as received.

Please visit the Colliers website at http://www.collierscanada.com/23954 for more information or contact Colliers at 204-943-1600.

Attachments & Media

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 2A
Zoning: M3


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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