Form Retail Advisors and Grass Ridge Realty are pleased to announce the sale offering of 4801 50 Avenue located in Stony Plain, AB (the “Subject Property”).
The Subject Property is a carefree, triple net investment opportunity consisting of a stand-alone building occupied by Rexall/Pharma Plus Pharmacies Ltd. (dba Rexall), secured on a long-term lease until 2031.
- Freestanding Rexall drug store with drive-thru comprising 12,268 square feet of main floor area, constructed in 2011.
- 100% occupied by Rexall on a carefree, fully net, lease with term remaining until September 2031.
- Strong corporate covenant: Rexall is a member of Rexall Pharmacy Group Ltd., a wholly owned subsidiary of McKesson Corporation which has a market cap of $31.2B (March, 2018).
- Located on a high exposure corner along Stony Plain’s main thoroughfare (Highway 779) and in close proximity to Parkland Highway (Highway 16A) which connects Stony Plain to Edmonton.
Offered at $6,900,000