FOR SALE 435 Columbia Street , BC

Partnership. Performance.

Office Building Located at the Columbia Skytrain Station 100% leased three storey building with future redevelopment potential

Michael Emmott, Vice President Josh Sookero*, Principal 604.647.1335 604.647.5091 [email protected] [email protected] *Josh Sookero Personal Real Estate Corportation

Bob Levine, Principal Benjamin Temple, Senior Associate 604.647.5066 604.757.4953 [email protected] [email protected] OPPORTUNITY SITE DESCRIPTION Avison Young is pleased to present this opportunity to acquire a 100% freehold interest in 435 Columbia Street, New Westminster, BC (the “Property”) Municipal Address prominently situated on Columbia Street adjacent to the Columbia Street 435 Columbia Street, Skytrain Station. The Property is well positioned to benefit from a renaissance New Westminster, BC along Columbia Street in the Downtown of New Westminster and a coveted PID location near rapid transit. 013-995-791 Prominent Columbia Street Location in Downtown New Westminster Site Area 17,232 sf ff Situated adjacent to the Columbia Skytrain Station and four blocks from the New Westminster Skytrain Station Rentable Area 45,617 sf ff New Westminster is strategically situated in the geographic centre of Metro only 30 minutes from downtown Vancouver Storeys 3 ff Surrounded by numerous amenities including The Shops at New West, the River Market, Anvil Centre and Conference Centre, Douglas College, and the Occupancy New Westminster City Hall 100% ff High exposure retail space that benefits from the Columbia Street Skytrain Frontage Station, which had an average of 4,779 average daily station boardings 131 feet along Columbia Street (Monday to Friday in 2017, Translink.com)

Year Built 1989 4,779 Zoning C-8 – 5.2 FSR average daily station boardings Financing Clear title

Year 1 Stabilized Net Operating Income WALK TRANSIT $783,557 SCORE SCORE Asking Price Walker’s Paradise Excellent Transit Contact listing agents 93 Daily errands do not 98 Transit is convenient require a car. for most trips.

Source: WalkScore.com

Columbia Station

131.5’

131’ Stable Tenant Roster ff New, 5-year lease with Boucher Institute of Naturopathic Medicine for 41,086 sf upon completion of the sale, which is approximately 90% of the building ff Ground floor retail space occupied by Subway and Mac’s Convenience Store ff Offers increasing and long-term cash flow security, with an average weighted lease term of 4.8 years and no tenant expiries until Oct. 2021

Boucher Institute of Naturopathic Medicine ff Founded in 2000, Boucher is a graduate level naturopathic medical college with 200 full time students ff The institute is only one of two naturopathic medical schools accredited by the US Department of Education accredited Council on Naturopathic Medical Education (CNME) in Canada, a professional accrediting agency for naturopathic medicine program ff The Boucher Institute also offers the Boucher Naturopathic Medical Clinic where faculty and students provide health care for approximately 1,000 patients per month

Evolving Office Leasing Market ff Office vacancy is expected to reach a 5 year low of 10.9% in New Westminster by the end of 2018 ff Limited new commercial development in downtown New Westminster and the recent leasing activity that has taken place at the Anvil Centre is expected to improve market conditions going forward

REDEVELOPMENT POTENTIAL The Property is zoned C8 (Columbia Street Historic Comprehensive Development Districts), which allows mixed-use (residential/commercial) developments up to an outright Floor Space Ratio (FSR) of 5.20 with building heights up to approximately 60 feet.

The Property is designated as Columbia Historic Mixed-Use in the New Westminster Downtown Community Plan, which permits mixed- use developments up to 12 storeys. The Property is located in the Columbia Station Skytrain Precinct, which incentivises additional density if provision is made for employment generating floor space within the development. 435 Columbia Street (Columbia Station)

4 9 5

New Westminster Station 6 1

3 7

8 2

OFFERING PROCESS Interest parties are encouraged to review the information provided in the Confidential Information Memorandum and the online data room, which is available upon execution of a Confidentiality Agreement (CA). Based upon interest expressed by potential purchasers, Avison Young may advise the owners to deal with a single interested party, or instead set a bid date for submission of offers.

1 Anvil Centre 4 Novare (New Development) 7 Discovery Centre

2 Landmark Cinemas 5 West Coast College of Massage Therapy 8 River Market

3 The Plaza 6 Pier West (New Development) 9 Dougals College

Partnership. Performance.

Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre, Vancouver, BC V6E 3P3, Canada

Michael Emmott, Vice President Josh Sookero*, Principal 604.647.1335 604.647.5091 [email protected] [email protected] avisonyoung.com *Josh Sookero Personal Real Estate Corportation © 2018 Avison Young. All rights reserved. Bob Levine, Principal Benjamin Temple, Senior Associate E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought 604.647.5066 604.757.4953 to be correct, is not guaranteed by Avison Young [email protected] [email protected] Commercial Real Estate (B.C.) Inc.; DBA, Avison Young.