Tenant Representation - Cushman Wakefield Atlantic

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Tenant Representation - Cushman Wakefield Atlantic
TABLE OF CONTENTS
WHY CUSHMAN & WAKEFIELD ATLANTIC?
1
EXECUTIVE SUMMARY
2
AREA OVERVIEW
3
NEW MINAS, NOVA SCOTIA
3
SPECIFICATIONS
4
EXTERIOR PHOTOS
5
OPERATING INCOME
7
CONTACT INFORMATION
9
APPENDIX: CUSHMAN & WAKEFIELD CORPORATE PROFILE
10
8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
WHY CUSHMAN & WAKEFIELD ATLANTIC?
Cushman & Wakefield Atlantic is a locally owned affiliate of Cushman & Wakefield Ltd., the Canadian operation of the world’s largest
privately-held commercial real estate firm. We assist clients in every stage of the commercial real estate process, representing them in the
buying, selling, financing, leasing, managing and valuing of assets, and providing strategic planning and research, portfolio analysis, site
selection and space location, among many other advisory services.
History of local firm;
 1993 Maritime Realty formed,
 1995 Royal LePage Commercial franchise acquired,
 2005 Royal LePage Commercial becomes Cushman & Wakefield LePage,
 2009 LePage name dropped from brand,
 Currently C&WA employs 30 professionals, operating out of 5 locations, in all Atlantic Provinces.
The talent of our extraordinary professionals across our region is what truly distinguishes C&WA from all other real estate firms. We
recruit, retain, and train the most experienced and talented professionals, then give them the flexibility and global platform needed to add
value. With approximately 13,000 employees operating from 231 offices in 58 countries and six continents, C&WA is equipped with the
resources and expertise to handle any assignment in any corner of the world.
To learn more about Cushman & Wakefield Ltd., please visit their website at www.cushwake.com. Regional information on Cushman &
Wakefield Atlantic can be found at www.cweast.com.
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8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
EXECUTIVE SUMMARY
8927 COMMERCIAL STREET
Civic Address
8927 Commercial Street, New Minas, Nova Scotia
Property Type
Retail Investment
Age
Approximately 20 years old
Current Use
Multi-tenant retail
Current Owner
Dorian Properties Ltd.
Building Size
28,710 square feet
Lot Size
2.69 acre lot
Zoning
Commercial
Municipal
Services
All municipal services are available
Assessment
$2,467,500 (2012 Commercial taxable)
NOI
$360,000 (potential for rental increases)
Selling Price
$5,500,000 / 6.5% Cap Rate
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8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
AREA OVERVIEW
NEW MINAS, NOVA SCOTIA
New Minas is a village located in the eastern part of Kings County in Nova Scotia's Annapolis Valley with a population of 5,135. The Kings
Centre Plaza is located on the main thoroughfare in New Minas, directly across from Empire Theatres and The New Minas Connector
Road, considered to be the new main entrance/exit to the Highway. New Minas is continually being developed commercially, and is truly
is a great place to live, work and play. Being the shopping centre of the Annapolis Valley New Minas has something positive to offer
everyone, from fine dining to fast foods, warehouse shopping to quaint boutiques.
LOCATION MAP
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8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
SPECIFICATIONS
BUILDING & SITE OVERVIEW
NOI
$360,000 (potential for rental increases)
Upgrades
Lot Size
2.69 acres
Additional
Features
Parking
Yes, ample exterior
Construction
Concrete foundation with steel framing
Signage
 New roof completed in March 2013
 Low vacancy
 Large lot size allows for expansion of
building and/or construction of pad site
Exterior signage available for all tenants of
building
4
8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
EXTERIOR PHOTOS
5
8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
6
8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
OPERATING INCOME
UNIT
TENANT
SF
LEASE
EXPIRY
SEMIGROSS
PSF
TAX
PSF
ANNUAL RENT
TAXES
1
CitiFinancial Canada
2,800
August 2014
$15.00
$3.10
$42,000
$8,680
2
CitiFinancial Canada
3
Knit-n-Stitch
1,500
March 2015
$16.00
$3.10
$24,000
$4,650
4
Go As You Grow Kids’ Gear Inc.
1,920
April 2015
$17.00
$3.10
$32,640
$5,952
5
Golden Tan Salon
930
May 2014
$13.50
$3.10
$12,555
$2,883
6
Valley Vacuum
1,440
September 2016
$15.25
$3.10
$21,960
$4,464
7
Valley Vacuum
1,440
September 2016
$15.25
$3.10
$21,960
$4,464
8
First Choice Haircutters
900
February 2018
$17.00
$3.10
$15,300
$2,790
9
Global Pet Foods Limited
1,992
September 2017
$17.00
$3.10
$33,864
$6,175
10
Toronto Dominion Bank
240
October 2017
$26,90
$3.10
$6,456
$744
11
Absolutely Fabulous
2,678
September 2018
$16.00
$3.10
$42,848
$8,302
12
Investors Group
4,550
November 2021
$18.60
$3.10
$84,630
$14.105
13
Investors Group
14
Holland Contracting
1,400
January 2014
$8.25
$11,550
$0
15
Holland Contracting
1,400
$8.25
$11,550
$0
16
Repracorp Business Systems
1,440
17
Repracorp Business Systems
18
Repracorp Business Systems
19
February 2017
$8.10
$3.10
$11,664
$4,464
720
$8.10
$3,10
$5,832
$2,232
2,760
$8.10
$3.10
$22,356
$8,556
600
168.98
28,710
$9,000
$410,165
Total Net Rent
$410,165
Operating Cost Recoveries
$0
Realty Tax Recoveries
$78,461
$78,461
(charged to Tenants)
7
8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
Gross Income
$488,626
Less:
Operating Costs
$50,000
(Snow removal, maintenance, landscaping, HVAC repair, etc.)
Realty Taxes
$71,594
(Actual taxes)
Total Expenses
$121,594
Net Operating Income
$367,032
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8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
CONTACT INFORMATION
For further information please contact the Cushman & Wakefield Atlantic leasing representative below.
BILL MACAVOY
MANAGING DIRECTOR
902.425.1872 DIRECT
902.880.0445 MOBILE
902.425.7374 FAX
[email protected]
C&WA MAILING ADDRESS
5475 Spring Garden Road, Suite 601, Halifax, NS B3J 3T2
WEBSITES
C&WA Regional Website: www.cwatlantic.com
C&W Corporate Website: www.cushwake.com
SOCIAL MEDIA
C&WA on LinkedIn: http://linkd.in/VUlZ tc
C&WA on Facebook: http://on.fb.me/X8d9VA
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8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
APPENDIX: CUSHMAN & WAKEFIELD CORPORATE PROFILE
Cushman & Wakefield’s (C&W) wide presence gives us a deep understanding of real estate markets throughout the world, and it enables
us to provide the same high-quality service globally with sensitivity to local market conditions and customs. C&W can serve clients with
real estate needs in a single market as well as those with expansive national or international real estate portfolios. In all markets, C&W’s
full resources support our services.
CANADIAN COVERAGE
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8927 COMMERCIAL ST.
NEW MINAS, NS
RETAIL INVESTMENT
GLOBAL COVERAGE
11