Downtown Winnipeg Office Investment/User Opportunity

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30701996
Property Subtypes: Office Building
Status: Pending/Contingent
Building Size (RSF): 33,502 SF
Gross Land Area: 11,225 SF
Sale Price: $3,750,000
Unit Price: $111.93 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class C
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 10/15/2021

Overview / Comments

In collaboration with A.S.H. Management Group Inc., Colliers has collectively been retained to act as the exclusive agent in the sale of 276 Portage Avenue in downtown Winnipeg, Manitoba. 276 Portage Avenue is a character 4-storey office building extensively renovated in 2006. It features a full lower level, and a total of approximately 33,502 square feet of leasable area.

Highlights:

1. Excellent exposure for signage and branding along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis;
2. Very good physical condition with over $7 million in building renovations since 2006 including extensive improvements to the mechanical, roof, and electrical systems;
3. Subdivision potential as evidenced in preliminary architectural review;
Title to be treated as clear of mortgage financing; and
4. Winnipeg's economy remains strong, diverse, and growing with the downtown area becoming a thriving “Live - Work - Play” neighbourhood.

Offered for sale at $3,750,000 ($112 PSF) with all expressions of interest to be reviewed and considered by the Vendor as received.

Click on the flyer or visit the Colliers website for more information or contact Colliers at 204-943-1600.

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 9A
Tax ID/APN: 12093224100
Zoning: M - MULTIPLE USE

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