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DOWNTOWN LEASING OPPORTUNITY
311 Portage Avenue—Winnipeg, Manitoba
Represented Exclusively By:
Colliers’ Retail Services Group—Winnipeg
Colliers Pratt McGarry,
John Prall
Independent Broker
Colliers Pratt McGarry,
Kris Mutcher
(Retail Leasing)
5th Floor—305 Broadway
Winnipeg, Manitoba R3C 3J7
PH: (204) 943-1600
FAX: (204) 943-4793
Our Knowledge is your Property
WINNIPEG. MANITOBA
311
PORTAGE
AVENUE
PROPERTY DETAILS:
MUNICIPAL ADDRESS:
311 Portage Avenue
Winnipeg, Manitoba
LOCATION:
The subject property is located on the northwest corner of Portage Avenue
and Donald Street.
LEGAL DESCRIPTION:
Lot 424-425 Block 3 Plan 129 Parish Lot 1 STJ
ZONING:
M (Multiple Use Sector) - Downtown Winnipeg Zoning By-Law # 100/2004
12-HOUR
TRAFFIC COUNT (1999): Portage @ Donald 48,006
REALTY TAXES:
$ 53,865.22
BUILDING FOOTPRINT:
11,310 sq. ft. per floor
BUILDING AREA:
22,620 sq. ft. on two floors; plus a basement area adequate for storage.
Our Knowledge is your Property
W I N N I P E G, M A N I TO B A
311
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AVENUE
OFFERING DETAILS
LEASE RATE:
$ 10.00 per square foot, on a rentable area of 22,620 sq. ft.
UTILITIES:
The tenant will pay all utility charges directly to the utility company.
The owner will attempt to obtain and provide utility charges for the
building for the last 2 year period.
AGENCY DISCLOSURE:
Colliers Pratt McGarry, John Prall* and Colliers Pratt McGarry represent the Owner of the subject property and do not represent prospective Purchasers or Tenants.
BUILDING LOCATION:
311 Portage is well located on Portage Avenue at the northwest Corner of Donald Street and
Portage Avenue in the heart of Downtown Winnipeg.
311 Portage is located across Portage Avenue from Winnipeg’s new MTS Centre Entertainment
Complex which opened in November 2004 with a seating capacity of 15,500 people. Situated
east of the property across Donald is a newer Mountain Equipment Co-op building opened in
2001. Other retail in the area on or near Portage Avenue is a 12,000 sq. ft. Red Apple
Clearance centre, a 10,000 sq. ft. Bargain Shop, and a 16,000 sq. ft. Giant Tiger store that
opened in 2003. Further west is Portage Place Shopping Centre anchored by Staples, McNally
Robinson Booksellers, Landmark Theatres, IMAX, Shoppers Drug Mart, and a mix of national
and local retailers.
BUILDING DESCRIPTION:
The building has been completely renovated in 1999 with new mechanical, electrical, and fire
protection systems. The building has 5 roof top gas fired heating and cooling units with 2 serving the second floor, two serving the main floor and one serving the basement. The ceilings on
both floors are exposed to the underside of the second floor and the underside of the second
floor roof deck with suspended fluorescent and incandescent lighting fixtures and suspended
fully distributed heating and cooling ducting. The inside of the exterior walls are typically
painted drywall. The second floor has two strips of sky lights running in a East/West direction.
The Second floor has two raised floor areas underneath the above mentioned sky lights.
Access to the second floor and basement is provided by a hydraulic elevator, and fire code
stairways plus an escalator connecting the first floor to the second floor and customer friendly
stairway coming down. The building has two sets of customer entrance doors with proper
weather protection vestibules. No on site parking exists, and loading is off of the back lane
with no designated loading parking area. Building improvement specifications including mechanical, electrical, fire protection systems, elevator access and structural upgrades will be
made available upon specific request by a purchaser or tenant upon acceptance of an offer to
Purchase or Lease.
RETAIL | INDUSTRIAL | OFFICE | INVESTMENT | MARKET RESEARCH
This brochure does not purport to be all inclusive or to contain all the information that a prospective purchaser/tenant may require to deciding whether or not to buy/lease the
property. Information contained herein has been obtained from various sources deemed reliable. We have no reason to doubt its accuracy but neither the Owner/Landlord nor
Colliers Pratt McGarry, nor Colliers Pratt McGarry, John Prall* (herein collectively referred to as “the Agent”) make any representations, declarations or warranties, expressed or
implied, as to the accuracy or completeness of the information or statements contained herein. The Owner/Landlord and the Agent expressly disclaim any and all liability for any
errors or omissions in the brochure or any other written or oral communications transmitted or made available to prospective purchasers/tenants. The property is subject to prior
sale, lease, withdrawal or changes without notice. Prospective purchasers/tenants are strongly advised to undertake a thorough review of all important facts relative to the property.
Agency Disclosure: Colliers Pratt McGarry, John Prall* represents the Owner/Landlord and does not represent prospective purchasers/tenants in the sale/lease of the property.
W I N N I P E G, M A N I TO B A
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AVENUE
Market Overview:
The Winnipeg downtown core is undergoing significant changes, as the City has made downtown
development a primary concern.
This focus has lead in part to the decision of Manitoba Hydro to develop a new 690,000 sq. ft.
head office at an estimated Building cost of approximately 250 Million dollars on Portage Avenue, the development of the new Credit Union Central of Manitoba offices at 317 Donald, the
opening of a new 15,500 seat entertainment centre (MTS Centre) and the opening of many new
retailers in the downtown area (Staples, MEC, and Giant Tiger).
On the other side of the downtown core, the City has promoted the re-development of the Exchange District, which is located just north and east of the subject property and is designated a
UNESCO world heritage site, with a major landscaping overhaul of Waterfront Drive located
along the Red River, the addition of a 6,000+ seat Baseball stadium (CanWest Global Park)
and the construction of a new 116 suite Hotel located at the Forks Marketplace. Several heritage buildings have been renovated and leased for offices (200 Waterfront Drive, 136 Market,
and 365 Hargrave).
The City also passed the new Downtown By-Law 100 to encourage development by allowing for
larger projects with fewer restrictions. New residential projects have been opened and more are
underway most of which are located in the Exchange District (mostly condominium rather than
rental apartment). There are currently four major residential condominium projects under construction along Waterfront Drive.
Elsewhere in the downtown area the Red River College opened their 225,000 sq. ft. downtown
campus on Princess Ave in 2004, which is now home to over 2000 students and 200 staff members. This adds to the University of Winnipeg’s presence and now means that there are over
12,000 post secondary students attending classes on a daily basis in downtown Winnipeg.
FOR ADDITIONAL INFORMATION
PLEASE CONTACT:
Colliers Pratt McGarry
5th Floor, 305 Broadway
Winnipeg, MB R3C 3J7
Canada
Tel: 204-943-1600
Fax: 204-943-4793
Website: www.colliers.mb.ca
According to Centre Venture, which is an arms-length agency of the City of Winnipeg,
that promotes business investment, development and economic growth in downtown
Winnipeg over 68,000 people currently work in the downtown area.
Summary of the above and other notable projects recently completed or in process:
-
Colliers Pratt McGarry,
John Prall*
[email protected]
*Colliers Pratt McGarry, John Prall and
Colliers Pratt McGarry are affiliated brokers.
Kris Mutcher
[email protected]
-
Millennium Library Renovation and addition - $17 M, completed 2005, located one
block from 311 Portage on Donald Street.
Manitoba Hydro Building – 690,000 sq. ft. located two blocks east of 311 Portage,
construction commenced, and expected to be completed 2008, with 2000 employees
minimum.
Credit Union Central Building located across Donald from 311 Portage – 90,000 sq. ft.
with 200 employees completed Fall 2004.
Carlton Call Centre for Manitoba Health in Free Press Building behind Portage Place
Mall
National Research Council for Bio-diagnostics
Indian And Northern Affairs Canada office building
100 Princess Avenue condominium project
Travelers Bldg condominiums
Hotel/Condominium project – across form Convention Centre
Powerhouse building (Restaurant/Bar with 3 floors of office space connected to MTS
Centre)
CKY relocation from Polo Park to a new building behind the MTS Centre next to the
Powerhouse Restaurant
New Moxies Restaurant in MTS Centre directly across from 311 Portage
Other
New Shoppers Drug Mart located in Portage Place—Opening Fall 2007
Our Knowledge is your Property
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