Single Tenant Investment Opportunity

Industrial for Sale
Catylist Listing ID: 30193721
Property Subtypes: Manufacturing
Building Size (RSF): 122,675 SF
Gross Land Area: 6.50 Acres
Sale Price: $9,500,000
Unit Price: $77.44 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 12/19/2019

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. The subject property has been home to Carfair and its predecessor companies for more than 15 years. Since NFI’s acquisition in 2017, Carfair has and continues to make significant upgrades to its manufacturing operation in Mission.

Offered for sale at $9,500,000 ($77 Per SF) with all expressions of interest to be reviewed and considered by the Vendor as received.

Features

1. A long-term lease extending until December 2022 with Carfair Composites Inc. offering prospective purchasers a financially stable, high quality income stream;
2. Significant capital reinvestment since 2005 with approximately $2.4 million spent on building system improvements and renovations such as partial roof and window replacement, parking lot resurfacing, electrical and mechanical upgrades;
3. Amortized recovery of capital improvements together with management efficiencies enhance available yield; and
4. Offered clear of mortgage and management encumbrances.

Please contact Colliers at 204-943-1600 for more information.

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 2A
Tax ID/APN: 06053028100
Zoning: M3

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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
Photograph of Listing Agent

Clarise Mare

Colliers International
CPIX® Member
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