FOR SALE

SURREY , BC

Surrey Memorial Hospital

94A Avenue 13764 & 13798 13764 & 13798 94A AVENUE

2.748 ACRES | MIXED USE DEVELOPMENT SITE WITH UP TO 500,000 SF BUILDABLE

DYLAN SOHI JASON TEAHEN MALCOLM EARLE Personal Real Estate Corporation Personal Real Estate Corporation Personal Real Estate Corporation Colliers International +1 604 661 0818 +1 604 661 0847 +1 604 661 0895 200 | 19th Floor [email protected] [email protected] [email protected] , BC | V6C 2R6 604 681 4111 | collierscanada.com OPPORTUNITY SALIENT FACTS

13764 & 13798 94A AVENUE, SURREY MUNICIPAL 13764 & 13798 94A Avenue, Surrey BC ADDRESS: An opportunity to purchase a 100% freehold interest in Located on 94A Avenue off of King George Boulevard within the Medical a 24,237 SF medical office building containing 23 strata LOCATION: District of Surrey City Centre units on 2.748 acres of land. The site is a large scale GROSS SITE 119,692 SF (2.748 acres) redevelopment opportunity with the potential for a office, AREA: retail or a residential mixed-use development. CURRENT ZONING: C-8 Community Commercial Zone

The Property is currently improved with a 1979-built, 3-storey plus basement, medical office building, containing 23 strata units and a large HIGHLIGHTS CURRENT paved parking area with +/- 185 parking stalls IMPROVEMENTS: All offices and retail spaces are fully improved with extensive plumbing >> Prime mixed-use development opportunity in Surrey City and electrical work Centre’s Medical District. OCP Zoning: Central Business District POTENTIAL LAND >> 2.748 acre site ideally configured for future redevelopment. USE: The development potential of this property allows for a mixed-use building

>> Potential to lease the fully-improved office and retail FLOOR AREA 3.50 FAR (4.20 FAR with allowable bonus density) spaces for holding income prior to redevelopment. RATIO (FAR):

>> Zoning certainty in the Central Business District’s MAXIMUM 418,922 SF outright with the option for bonus density up to an additional Neighbourhood Concept Plan. BUILDABLE AREA: 83,784 SF for a total of 502,706 SF

Environmental Report, Legal Survey and Appraisal DUE DILIGENCE: Please contact agent for access to these documents ASKING PRICE

>> Unpriced - Contact listing agents for pricing guidance. LOCATION

SURREY CITY CENTRE Situated at the heart of the region, Surrey’s City Centre area is designated as the region’s second metropolitan centre in the Metro Vancouver 2040 Regional Growth Strategy. The City Centre’s central location allows for a number of major locational advantages which include:

>> Direct SkyTrain connection on the Expo Line with two Regional City Centres and a Municipal Town Centre ending in Downtown Vancouver in 35 minutes, and with rail and SeaBus transfer connections to 3 other Regional City Centres and 4 other Municipal Town Centres;

>> The hub of a future Light Rail Transit network that will connect Surrey City Centre with Guildford, Newton and Langley;

>> Similar driving proximity (35 minutes) to two international airports- Vancouver and Abbotsford; and easy access to the US-Canada Border, and,

>> Views of natural regional features such as mountain ranges and the to the north.

DEMOGRAPHICS (3KM RADIUS)

CURRENT POPULATION (2019) 103,477

PROJECTED POPULATION (2022) 107,263

WALK SCORE - WALKABLE 66/100

TRANSIT SCORE - EXCELLENT TRANSIT 73/100

*Demographics obtained by Piinpoint Port Mann Bridge

Gateway Station

18 5 12 Station 13 2 11 6 8 1 3 9 16 14 17 20 15 RCMP RCMP

4 19

10

10 7

96th Avenue Surrey Memorial Future 96 Avenue LRT Station Hospital King George Boulevard

Avenue 94A TRANSIT & AMENITIES OVERVIEW

AMENITIES TRANSIT

SERVICES/LANDMARKS RETAIL EXPO SKYTRAIN LINE Central City 1 11 Safeway Shopping Centre BIKE ROUTE

2 Surrey Library 12 London Drugs RCMP RCMP 3 SFU 13 Save-On-Foods

4 Holland Park 14 Canadian Tire

5 Surrey City Hall 15 Staples

FOOD & DRINK BANKS 16 RBC 6 White Spot

17 CIBC 7 Starbucks

18 TD Bank 8 Tim Hortons Coast Capital Central City 19 9 Brewing Savings Browns Social 20 BMO 10 House PROPERTY DESCRIPTION

>> Two adjacent lots, providing a total land area of 2.748 acres; >> Situated on the south side of 94A Avenue, east of King George Boulevard; and, >> Approximately two thirds of the entire site surrounding the building is a fully paved parking lot containing 185 parking stalls.

LOT SIZE LOT CHARACTERISTICS

13764 94A Avenue: 38,100 SF Rectangular in shape

13798 94A Avenue: 81,592 SF Frontage on 94A Avenue: +/- 316 feet

Total: 119,692 SF Depth: +/- 381 feet

316 feet CLASS A CREEK BUFFER* 381 feet

FUTURE PARK LAND OR OPEN SPACE* 262 feet NET DEVELOPABLE SITE AREA: 381 feet APPROXIMATELY 50,000 SF

188 feet 94A Avenue

316 feet

*Approximate Area. Required setbacks to be determined by a Qualified Environmental Professional (QEP). LAND USE & PLANNING CONTEXT

MEDICAL DISTRICT* centre of this district will be established along 137 A-Street. It will connect people This district is emerging as a medical and technology area which will support Surrey from the southern end at the hospital through to the northern district at the King Memorial Hospital, other high-tech offices and supportive housing. Medical office George Skytrain Station. This connection will feature pedestrian-oriented amenities buildings are largely concentrated at the southern end of the District close to Surrey such as a double row of trees along the sidewalk, benches, and public art. An urban Memorial Hospital and older single-family houses are located at the northern end neighbourhood park will be located along the linear corridor. It will provide employees, closer to . Several supportive housing developments are also located residents and visitors with access to nature and green space. The area to the west of in different areas within this district. These include seniors care facilities, Kinsmen the hospital will redevelop into a medium density residential pocket that will include Lodge and Laurel Place and supportive housing developments including an addiction care facilities and other supportive housing uses adjacent to south Quibble Creek. recovery supportive housing development. URBAN DESIGN & PUBLIC REALM FEATURES* Large institutional employers in this district include Revenue Canada and . Surrey Memorial Hospital underwent a major expansion of the HIGH TECH OFFICE BUILDING AREA Emergency Room and added a Critical Care tower in 2011. A new medical office New office developments in this district will be built with a heavy six-storey podium building (City Centre 1) was constructed in 2015, the second phase (City Centre 2) and up to 12-storey tower above. The office frontages should include active frontages was constructed 2018, the third phase is under construction and future phases are such as coffee shops or retail to help activate the public realm. The developments proposed. should also provide high quality public amenities that consider the needs of residents, office and medical sector employees, and hospital patients and visitors. An underground, high-capacity fibre optic network is planned to support data- intensive research and innovation across a range of public sector users. This RESIDENTIAL COMPONENT advanced infrastructure will not only help support, but also attract new medical and Most of the residential buildings in this district are located at the north end. However health technology uses. This area will form a dense medical and health technology mixed-use developments in this district may consider inclusion of a residential office district, having the highest concentration of innovation and health related offices component in order to provide additional residential vibrancy in the office area. in the city, as well as mixed-use residential and supportive housing. Companies will The residences will provide utilization of the public spaces beyond business hours. co-locate with a major hospital, health institutions, research and technology firms, a Development should consider a mix of land uses such as active retail, residential, health technology accelerator and incubator centre and research university to create entertainment and attractions that generate demand during mid-day, evenings, and a health tech and innovation focus within Surrey’s downtown. weekends.

High quality public realm including amenities will support office and health sector employees, visitors and residents. Active ground floor interfaces for office buildings *Obtained from the City of Surrey will include retail uses such as coffee shops and amenities such as benches, high quality landscaping and public art. A key north-south linear connection through the

DEVELOPMENT POTENTIAL

The location of the property within the Medical District, directly adjacent to Surrey Memorial Hospital, provides for an excellent opportunity to develop a strata retail and office project similar to City Centre 1, 2 and 3 on the north side of Surrey Memorial Hospital. The demand of strata product within close proximity to the hospital continues to grow with record setting prices being achieved for the region. The Health and Technology District has exploded with medical and technology companies taking space at a rapid pace.

Q1 – 2019 - SURREY OFFICE MARKET TREND

OFFICE AAA CLASS VACANCY 2.9%

OFFICE STRATA SALE PRICING $600 - $700 per SF

RETAIL STRATA SALE PRICING $825 - $950 per SF

City Centre 1 City Centre 2 City Centre 3 3 Civic Plaza OFFERING PROCESS FOR SALE SURREY, BC

Purchasers are invited to submit offers to Colliers on the Vendor’s preferred Form of Offer (available in the Data Room). Please contact the listings agents to learn more about the offering process.

Please contact listings agents to reserve a time slot for a building tour. There will be two tour dates scheduled in May 2019. 13764 & 13798 13764 & 13798 94A AVENUE

Colliers International MALCOLM EARLE JASON TEAHEN DYLAN SOHI 200 Granville Street | 19th Floor Personal Real Estate Corporation Personal Real Estate Corporation Personal Real Estate Corporation Vancouver, BC | V6C 2R6 Senior Vice President Vice President Senior Associate P: +1 604 681 4111 +1 604 661 0895 +1 604 661 0847 +1 604 661 0818 collierscanada.com [email protected] [email protected] [email protected]

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