For Sale Financial Anchored NNN Investment Opportunity

Location Contact 1990 Columbia Avenue Curtis Leonhardt* Jon Buckley* Castlegar 604 638 1999 604 630 0215 [email protected] [email protected]

*Personal Real Estate Corporation For Sale 1990 Columbia Avenue Castlegar BC

Salient Details

Municipal Address: 1990 Columbia Avenue, Castlegar BC

PL NEP22272 LT 3 DL 7173 LD 26. Legal Description: EXCEPT PLAN NEP62872 Opportunity PID: 019-211-147 The Vendor has exclusively retained Form Real Estate Advisors to facilitate the sale Zoning: C-1 (Regional Commercial) of its 100% freehold interest in 1990 Columbia Avenue located in Castlegar, BC (the “Subject Property”). The Subject Property presents a carefree, triple net investment Lot Size: 0.56 AC (24,562 SF) opportunity consisting of a two tenant retail building with drive-thru occupied by the Bank of Montreal: 3,455 SF Bank of Montreal and Panago , tenants since 1998 and 1999 respectively. Tenants: Panago Pizza: 1,076 SF Total GLA: 4,531 SF Highlights Occupancy: 100% Freestanding retail building with drive-thru comprised of 4,531 SF situated along • Bank of Montreal: Expires Columbia Avenue (Highway 22). September 30, 2023 with 4 x 5 year renewal options @ FMR Lease Term: Bank of Montreal recently renewed for five (5) years expiring Sept. 2023 and Panago • J & D Developments Ltd. (dba Pizza operator recently renewed for 10 years expiring Oct. 2028. Panago Pizza): Expires October 31, 2028 Bank of Montreal accounts for over 76% of the Net Rentable Area, and 80% of the Phase I ESA completed in 1998 is Basic Rental Revenue. Environmental: available for review. Excellent exposure and visibility with traffic counts exceeding 14,600 VPD. Financing: Assume Clear Title Well managed and maintained with recent capital expenditure including a new roof in Net Operating Income: $111,846 2017. Sale Price: $2,160,000 Area tenants include: Canadian Tire, Shoppers Drug Mart, Mark’s Work Wearhouse, Cap Rate: 5.20% McDonald’s and .

02 For Sale 1990 Columbia Avenue Castlegar BC

Fast Facts

Population (2018) 13,776

Households (2018) Market Overview

6,038 Castlegar is the second largest community in the West Kootenay region and is located within the Selkirk Mountains at the confluence of the Kootenay and Columbia Rivers. The city acts as a regional trade and transportation centre, with a local economy fueled by forestry, mining and tourism. The Castlegar area has experienced a significant increase in population in recent years and the province Average Household Income (2018) projects that the increase will continue well into the future. BCStats estimates that the population will increase by approximately 20% by 2038, translating to 2,600 new residents and a population of 16,589 by 2038. Castlegar’s projected growth is higher than any other Kootenay region, which as a $95,211 whole is projected to be 4.5%.

Tenant Highlights Commercial Trade Area

One of the Big Five Banks in Canada, The Bank of Montreal is a highly diversified 69,000 financial services provider with assets totaling $710 billion and employment of over 45,000 employees. BMO ranks as Canada’s fourth largest bank, serving customers through personal, business, public sector and institutional offices in Canada, the U.S. and 12 countries internationally.

Highest Population Panago is a Canadian and takeout chain with approximately 200 locations across 6 Provinces. Panago is a franchise business with each location being franchisee-owned and operated. On an annual basis, Panago generates Growth Projections sales in excess of $150 million. in the Kootenays

03 For Sale 1990 Columbia Avenue Castlegar BC

2 6

3 7 8

4 COLUMBIA AVENUE (HWY 22) 9 1

5 10

CROWSNEST HIGHWAY

11 12

CROWSNEST HIGHWAY

1. Subject Site 5. Canadian Tire Mark’s Work Warehouse 9. McDonald’s 12. West Kootenay Regional 2. Chevron 6. Kootenay Cinemas 8. Kootenay Crossing: 10. Subway Airport 3. Sandman Hotel 7. Uptown Centre: Boston Pizza, 11. Castlegar Recreation 4. A&W Shoppers Drug Mart, Joey’s, Quiznos Centre

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Prince George

Quesnel

ALBERTA Williams Lake

Calgary

BRITISH COLUMBIA

Kamloops Lethbridge

Castlegar, BC

Vancouver Kelowna

TRAVEL TIMES Victoria

Calgary 1 hr flight UNITED STATES 6 hr 45 min drive

Kelowna 3 hr 45 min drive

Vancouver 1 hr 15 min flight 8 hr drive

05 Form Real Estate Advisors 1280-333 Seymour Street T 604 638 2121 Vancouver, BC V6B 5A6 F 604 638 2122

All communications and inquiries related to this opportunity, or requests for additional information or requests regarding procedures, must be made to the Form Retail Advisors Inc. agents named on the first page. No personnel of the Vendor or any of its affiliates should be contacted directly under any circumstance.

Disclaimer: None of the Vendor, its affiliates, Form Real Estate Advisors Inc. or any of their respective representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document, and interested parties should conduct their own independent analysis of the information contained or referred to herein. Nothing contained in this document is, or should be relied on as, a promise or representation, whether as to the past or the future. The Vendor, its affiliates, Form Real Estate Advisors Inc. and their respective representatives are under no obligation to accept any offer made by any person or entity regarding this opportunity.