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8238 129Th Street Surrey, Bc

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8238 129Th Street Surrey, Bc Image Source: Google FOR SALE 129TH STREET 8238 SURREY, BC Partnership. Performance. Opportunity Single tenant fully leased 77,729 sf industrial warehouse and production facility located on 1.88 acres Rob Greer*, Principal Michael Farrell, Principal 604.647.5084 604.646.8388 [email protected] [email protected] * Robert Greer Personal Real Estate Corporation 129TH STREET 8238 SURREY, BC Executive Summary Location Surrounded by a rapidly commercializing district that includes the Payal Busi- Rentable Area ness Centre, Little India Plaza, and is supported by major retailers such as Costco 77,729 sf and Real Canadian Superstore, the Property is located on 129th Street just south of 84th Avenue in the Newton industrial area of Surrey. Situated two blocks west Gross Site Area of King George Boulevard, this Property location provides proximity to the Fraser 2.82 acres Highway offering convenient access throughout Metro Vancouver. The Proper- ty is located approximately 1500 m from the future Surrey-Newton-Guilford LRT station at King George and 80th Avenue which will offer rapid transit accessibili- Net Site Area ty to the area. 1.88 acres (approximately 41,000 sf of unusable area Future Surrey-Newton-Guilford LRT Project due to the easements surrounding Cruik- shank Creek) Year Built 1995; expanded in 2007 Zoning IL (Light Industrial) Legal Description LOT S (BJ56508) SECTION 29 TOWNSHIP 2 NEW WESTMINSTER DISTRICT PLAN LMP19668 Tenant Profile: Kobelt Manufacturing Ltd.* Financial Summary Established in 1962, Kobelt Manufacturing Ltd. (“Kobelt”) is a privately held com- pany that designs and manufactures systems that provide solutions for guiding Net Operating Income and controlling movement. The Property is ISO 9001 certified (since 2008). From $500,000 (2018) their in-house foundry and bronze die casting through to precision machining, assembly and testing, Kobelt has designed their facility to have complete control over quality at every step of the way. Kobelt’s control, steering and braking sys- Asking Sale Price tems are sold through a global network of distributors in over 60 countries into $10,000,000 (5.0% yield) the marine, oil & gas, natural resources and manufacturing sectors. Kobelt cur- rently does approximately twenty five million dollars in total sales annually. *Source: www.kobelt.com/about-us Ground Floor Site Plan Rentable Area Ground Floor 46,309 sf Basement 5,400 sf Mezzanine 26,020 sf Total 77,729 sf Original Building (1996) Addition (2007) 31,403 sf 14,906 sf Pending EMCO Sublease (8,064 sf) D D G G 129TH STREET Investment Highlights Fully net lease, tenant New ten year lease, with in place Quality construction pays operating costs rental escalations (Dominion Construction) Recent renovations (2017) and Located in a rapidly Dock & grade loading expansion (2007), commercializing and sought 7 new HVAC units (2017) after area in Surrey Downtown Vancouver Golden Ears Way 1 GOLDEN EARS CONNECTOR Lougheed Highway Pitt Meadows PORT MANN BRIDGE )_ 17 GOLDEN EARS 120 BRIDGE th Street/Scott Road Street/Scott 8238 129TH STREET 1 VANCOUVER INTERNATIONAL AIRPORT Delta Surrey 91 10 TRANSCANADA HIGHWAY 1 200 17 th Street 99 15 13 DELTA PORT US Border Aldergrove Crossing Drive Times US Truck Border Crossing 39 mins Port Kells 21 mins Coquitlam 30 mins BC Ferries 51 mins Richmond 30 mins New Westminster 17 mins Vancouver Airport 37 mins Downtown Vancouver 54 mins Burnaby 29 mins Langley 29 mins North Vancouver 45 mins Abbotsford 52 mins Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada avisonyoung.com Rob Greer*, Principal Michael Farrell, Principal © 2017 Avison Young. All rights reserved. 604.647.5084 604.646.8388 E. & O.E.: The information contained herein was obtained from [email protected] [email protected] sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real * Robert Greer Personal Real Estate Corporation Estate (B.C.) Inc.; DBA, Avison Young..
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