Grocery Anchored Retail Portfolio

Halifax, Nova Scotia

Building

Stats

Property Type Retail - Community Center
Building size (SF) 234,312
Size (Ac) 38.53
Price $41,842,216 CAD

Overview

The Offering totals 234,312 square feet of prime retail space, anchored by Sobeys, the second largest grocery store chain in Canada and a subsidiary of Empire Company Limited (TSX: EMP.A), a Canadian food retail conglomerate. With approximately $30.2 billion in annual sales and $16.6 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 130,000 people. Sobeys is rated BBB (stable) by DBRS Ltd. and BBB- (stable) by S&P. Tenants hold NNNN leases, with a weighted average lease term of 7 years, and several renewal options and rental escalations.

The Properties total 1,678,236 square feet of land, ideally located within their respective markets across Nova Scotia and New Brunswick. These sites benefit from high visibility, accessibility and traffic, as well as the proximity of densely populated residential areas. The Atlantic provinces are poised to grow by 0.62% in the next five years, thus assuring the long-term stability and security of this investment.

Highlights

The Portfolio is a rare opportunity to acquire a defensive Sobeys-anchored retail portfolio of scale, offering carefree, stable and secure cash flow in one of the fastest growing regions of Canada;

WALT - 7 Years;

Leases - NNNN;

The Properties offer attractive development opportunities through its excess land. Most sites offer the possibility of building an additional pad or expanding the existing building, thus allowing a future owner to take advantage of the sites unique locations in fast-growing areas.