New Brunswick Retail Portfolio
62 unit portfolio with development potential in high-traffic retail centres
The Offering
Overview
- Leasable area 132,084 sf
- Unit count 62
- Occupancy 94.3%
- Asking price $20,800,000
- NOI $1,468,961.76
- Cap rate 7%
Avison Young, on behalf of the Vendor, is pleased to offer for sale a retail portfolio consisting of strip, plaza and mall properties, located in Moncton, Shediac and Saint John, New Brunswick.
The New Brunswick Retail Portfolio comprises three well-maintained, retail-focused assets totalling approximately 132,084 sf of leasable area. The properties are located in high-traffic retail centres in their respective cities in New Brunswick, with a diverse mix of secure tenants in place, ranging from retail businesses to professional services.
Included in the portfolio is :
- McBuns Plaza [116-122 Shediac Road], a five unit, fully-occupied strip plaza in Moncton;
- Shediac Mall [Mall Centre-Ville, 342 Main Street], a thirty unit complex consisting of primarily retail space with some office and professional services unit;
- Westmorland Place [531-535 Westmorland Road], a fully-occupied, three structure retail plaza with twenty seven units.
The McBuns Plaza site has an additional 10,550 sf of development land, expanding the plaza to potentially potentially add six units across three buildings.
