Hammond Bay Centre

Avison Young is pleased to present the opportunity to acquire a fully leased 60,650-sf neighbourhood shopping centre in the heart of Nanaimo’s thriving retail hub. Located at the active intersection of Island Highway North (25,000+ Vehicles Per Day) and Hammond Bay Road (12,000+ Vehicles Per Day), the property benefits from over 530 feet of prime highway frontage and multiple points of ingress and egress from both thoroughfares. Hammond Bay Centre offers a stream of core cash flows backed by a tenant roster of national brands and local businesses operating in essential retail categories. Recently leasing activity has seen the centre's major tenants—The Brick and Coastal Community Credit Union—renew at increased rents, which has driven income growth and contributed to the property's 5.0 Year WALT. Staggered lease expiries position the property well for additional near-term rental growth, while long-term value-add opportunities may be pursued through the redevelopment or repositioning of the property's anchor box and standalone pads.