MEDICAL PROPERTY FOR SALE

Investment opportunity

953-981 Saint-Jean Boulevard, Pointe-Claire

Property

Building Size: 119,561 SF
Occupation Rate: 95.3%
Capital Investment: $38.7M
WALT : 8.3 years

Executive summary

Avison Young (the “Advisor”) is pleased to offer for sale a 100% freehold interest in one of Québec’s most important medical complex, located at 953-981 Saint-Jean Boulevard, in Pointe-Claire. The Centre is a prime, transit-oriented medical complex totalling 119,561 square feet, comprising a shared ground-ﬂoor podium with two 4-storey towers located on a 118,078-square foot site.

Modern and nearly entirely renovated, the Property is one of the few full-service medical centres in the entire West Island of Montréal. It is anchored by ELNA Medical, which represents 64.0% of the Property’s revenues, and features a weighted average lease term of 8.3 years. The Property is 95.3% leased.

Investment highlights

The Centre, located at 953-981 Saint-Jean Boulevard, Pointe-Claire, is the largest medical complex in Québec. It comprises two 4-storey towers with a total of 119,561 square feet of medical and retail space, located on a 118,078-square foot site.

Tenants include established medical brands, such as Lobe and Medicus, with ELNA occupying 64.0% of the Property.

The Property has an occupancy rate of 95.3% with a weighted average lease term (WALT) of 8.3 years, while tenants have occupied the site for an average of 5.5 years. The existing vacancy offers investors the possibility to lease up the vacant units and increase revenues.

Location

The West Island has a population of 239,456 residents with an average household income of $136,207 and a median age of 45.5 years. 51% of the population is over 45 years old, indicating a growing need for high-quality healthcare services. The Property is one of only three fully integrated medical services complexes in the West Island, and its most central: it is ideally located less than 10 minutes from Lakeshore Hospital.