1544 Portage Avenue - Olive Garden 3 Retail Properties in Multiple Locations

CBRE Limited (“CBRE” or the “Advisor”) is pleased to offer for sale, a Single Tenant Retail Portfolio comprising three free-standing locations fully leased to Olive Garden in Edmonton, Alberta and Winnipeg, Manitoba (the “Portfolio” or “Offering”). Totaling 25,268 SF, an investor is presented with the ability to acquire a premier street-front retail opportunity with a weighted average lease term remaining of 9.1 years.
The Portfolio leases are absolute net to the landlord and incorporate annual contractual rental rate increases that provide an investor with the coveted combination of income security and contractual growth, in locations featuring excellent exposure, accessibility and long-term viability.
Each Olive Garden location is fully leased to GMRI Canada Inc., a subsidiary of Darden Restaurants, the world’s largest full-service restaurant company with over 2,100
The Portfolio includes three Olive Garden restaurants with each location currently occupying the same site as the neighbouring Red Lobster restaurant. The purchase is not inclusive of any Red Lobster restaurant, with each site being subject to subdivision prior to closing. The Offering is presented with no list price and no set bid date with the Vendor having significant transaction flexibility and will consider offers on the whole Portfolio or various components thereof. The Vendor reserves the right to call for offers at a future date.