5335 Kingsway 47,775 SF Retail Building Burnaby, BC V5H 2G1 For Sale

Jones Lang LaSalle Real Estate Services, Inc. (“JLL” or the “Advisor”) has been retained on an exclusive basis to sell a 100% freehold interest in 5335 Kingsway, Burnaby (the “Offering” or “Property”). The Offering represents an extraordinary opportunity to acquire a landmark 2.84 acre mixed-use development opportunity located within the recently updated Royal Oak Community Plan, allowing for up to 30 storeys of base development height with an additional 10 storeys available under the City of Burnaby’s Community Benefit Bonus Policy. The Property is attractively designated in the highest permissible height district within the Royal Oak Community Plan update, High Rise Apartment, allowing for 30 storeys of base development height. Conceptual plans for the Property envision up to 1,028,463 sf of developable area and 8.32 FSR of density under base zoning across a 3-tower mixed-use concept. The overall development will fit seamlessly into the surrounding landscape and strengthen the gateway and transition into Royal Oak from the established Metrotown node. 5335 Kingsway is currently improved with a 47,775 sf retail building situated on a highly visible 2.84-acre parcel near the arterial intersection of Kingsway and Royal Oak Avenue. The building is currently 100.0% leased to Wholesale Club, a warehouse-style grocery chain operating under the Loblaw’s banner, offering a stable income stream from one of Canada’s most reputable companies. The Property benefits from its central location in a highly amenitized and rapidly growing area, with BC’s largest shopping mall (Metropolis at Metrotown) and Royal Oak Expo Line Station both within a 750m and 600m radius, respectively