The Vendor has retained Form Retail Advisors Inc. and National Retail Group (the “Co-Listing Agents”) to facilitate the sale of 120 and 123 City Centre located in Kitimat, BC (the “Subject Properties”).
The Subject Properties are located in the heart of Kitimat’s retail centre, and are comprised of two single-tenant assets totaling 20,345 square feet. The 17,988 square foot freestanding Shoppers Drug Mart and 2,347 square foot freestanding A&W with drive-thru are located at the intersection of Haisla Boulevard (Highway 37) and Lahakas Boulevard, the primary thoroughfares for Kitimat at what is considered the entrance to the commercial core.
- Located within Kitimat’s downtown city centre within close proximity to City Centre Mall, Mountain View Square, and Kitimat General Hospital.
- Secure and stable income with strong tenant roster (A&W and Shoppers Drug Mart).
- Year 1 NOI is $222,615.
Offered at $3,700,000 (~6.00% cap rate)