2306 BC-6 Hwy
Vernon, BC V1T 7E3
Retail Property For Sale

-119,468 square foot, partially enclosed multi-tenant centre anchored by grocery and drug, situated on a 421,922 square foot (9.686 acre) site along Highway 6, which connects with Highway 97 -Occupied by a strong cross-section of national and regional operators, inclusive of Save-On-Foods (Overwaitea Food Group), Shoppers Drug Mart (Loblaw Companies), Galaxy Cinemas (Cineplex Inc.) and Royal Bank of Canada -Long-term, in-place leases with built-in rent escalations, providing for consistent future upside in revenues with limited downtime exposure -Strong tenant covenants and secure income stream provided by national tenants who account for 94% of the gross leased square footage and 93% of the existing base rental revenue -Extensively repositioned and re-tenanted from 2009 – 2011 with over $11.5 million in renovations, including the construction of new building pads and $1 million in renovations for the new “Galaxy Cinemas” format facility -Vernon is the primary service and employment centre for the North Okanagan Region, which has a population of 194,857 people. It is considered a major commercial hub for the entire Okanagan Valley, which has a population of approximately 341,818 people (2016) -The Metro area of Vernon is poised for growth with a population of 61,069 people (2016) that is projected to grow by an additional 3.5% by 2021 -The Subject Property is the primary grocery, drug and financial anchored retail centre servicing all of South Vernon and the surrounding communities. The Subject Property is in close proximity to, and serves the visitors of, the Vernon Jubilee Hospital, Vernon Golf & Country Club, and Kalamalka Lake Provincial Park -The offering is held in a single-purpose nominee, which can be purchased by from the Vendors thereby avoiding any property transfer tax