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Gateway Park 2261 Keating Cross Road, Central Saanich, BC

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Gateway Park 2261 Keating Cross Road, Central Saanich, BC FOR SALE Gateway Park 2261 Keating Cross Road, Central Saanich, BC Institutional Grade Office Investment Opportunity in Greater Victoria with Significant Upside Potential Douglas McMurray, Principal Bob Levine, Principal 604.647.5082 604.647.5066 [email protected] [email protected] Michael Emmott, Vice President Benjamin Temple, Senior Associate 604.647.1335 604.757.4953 [email protected] [email protected] Avison Young is pleased to present INVESTMENT & PROPERTY HIGHLIGHTS the opportunity to acquire a 100% » The leading regional office complex among comparable freehold interest in 2261 Keating buildings in the northern Greater Victoria area Cross, Central Saanich, BC (the » Strategically located within 20-minute drive of Swartz Bay Terminal, Victoria International Airport and the City of “Property” or “Gateway Park”). Ideally Victoria situated in the Keating Cross Business » Secure returns supported by a strong roster of large corporate tenants and the Provincial Government, all with District, 15 kilometers north of the long-standing tenure City of Victoria along the Patricia Bay » Significant upside potential through the lease-up of Highway corridor, the northeastern available space » Institutionally managed and impeccably maintained gateway to the Capital Region. » Ample parking provided by four-storey parkade and surface parking » Occupancy costs are below $7.00 psf, nearly half of office buildings located in Downtown Victoria offering significant savings for tenants THE GREATER VICTORIA AREA GREATER SUBJECT population of unemployment PROPERTY cities, towns, rate* and district VICTORIA 13 municipalities 370,000 3.9% * Oct. 2018 – Statistics Canada REGION lowest in the country among major census metropolitan areas OVER THE NEXT 20 YEARS, ANTICIPATES AN ADDITIONAL 100,000 50,000 20,000 people jobs dwellings VANCOUVER ISLAND percentage of British 14% Columbia’s GDP CENTRAL SAANICH & KEATING BUSINESS DISTRICT PROPERTY » Located in the Keating Business District, which supports nearly 3,200 SUMMARY jobs in wholesale trade, manufacturing, transportation, warehousing and logistics, and construction MUNICIPAL ADDRESS 2261 Keating Gross Road, Central » Major employers in the Keating Cross Business District include Thrifty Saanich, BC Foods, FedEx, Western One, Microserve, Level Ground Trading, Harbour City Kitchens and the Provincial Government of BC PROPERTY OWNERSHIP » Close proximity to Brentwood Bay and Saanichton offering a variety of Held in bare trust commercial and retail amenities PARCEL IDENTIFIER » Excellent connectivity to southern Vancouver Island and the Greater 024-883-972 Victoria Area via the Patricia Bay Highway (BC Hwy -17) SITE AREA 4.92 acres (214,197 sf) RENTABLE AREA 180,575 sf including 19,079 sf basement STOREYS 2 plus basement PARKING 660 stalls (3.7 stalls per 1,000 sf) YEAR BUILT 1999 ZONING I1 (Light Industrial) OCCUPANCY 76% (85% excluding basement) EXISTING NET OPERATING INCOME $2,289,686 STABILIZED NET OPERATING INCOME STRONG TENANT ROSTER $2,824,807 FINANCING 180,575 sf RentabLe Area Clear Title PRICE $39,500,000 21% 19% 16% 13% CAPITALIZATION RATE Existing NOI Stabilized NOI Emergency Telus BC Emergency Vacant Management BC* Health Services office 35% 65% 5.80% 7.15% National Government PRICE PER SF (EXCLUDING BASEMENT) o c $245 c u p 12% 4% 4% 11% a n cy BC Ambulance ARO Inc. CAMACC Vacant b pe y tenancy ty Systems* basement * Head office location OFFERING PROCESS Swartz Bay Ferry Terminal Interested parties are encouraged to review the information provided in the Confidential 17A 17 Information Memorandum (CIM) and the VICTORIA online data room including up-to-date AIRPORT environmental and building condition reports, which are available upon execution of a Confidentiality Agreement (CA). Based upon interest expressed by potential 17A purchasers, Avison Young may advise the owners to deal with interested parties, or instead set a bid date for submission of offers. 17 Saanichton 17A Brentwood Bay SUBJECT PROPERTY 17 Keating Cross Road Drive Times Saanich 12 mins Victoria Airport 13 mins BC Ferries 14 mins 17A Downtown Victoria 20 mins 17 SAANICH DOWNTOWN VICTORIA 17 Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre, Vancouver, BC V6E 3P3, Canada Douglas McMurray, Principal Bob Levine, Principal avisonyoung.com 604.647.5082 604.647.5066 [email protected] [email protected] © 2018 Avison Young. All rights reserved. Michael Emmott, Vice President Benjamin Temple, Senior Associate E. & O.E.: The information contained herein was obtained from 604.647.1335 604.757.4953 sources that we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) [email protected] [email protected] Inc.; DBA, Avison Young..
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