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276 Portage Avenue Winnipeg , Manitoba For Lease up to 33,502 SF ± of Contiguous Office Space 276 Portage Avenue Winnipeg , Manitoba A.S.H. Management Group Inc., Broker 233 Portage Avenue, Suite 100, Winnipeg, MB R3B 2A7 Ph: 204-982-7973 ashmanagementgroup.com Jack S. Hurtig, B.A.. B. Admin, Broker Vice-President, Real Estate Brokerage Dir: 204-982-7978 [email protected] Full Tanya Spradbrow, Sales Representative Real Estate Brokerage Coordinator Real Estate Dir: 204-982-7979 [email protected] Commission To Outside Brokers A.S.H. MANAGEMENT GROUP INC. BROKER March 2021 E&OE Note: Exterior canopy has been removed The OpportunityThe Opportunity • Prominent and high profile location in the heart of downtown Winnipeg steps from Portage and Main and the ever maturing SHED District and immediately adjacent to the mixed-use development now underway by Rockport Investment Group; • Just one block from Winnipeg’s climate controlled indoor walkway system; • Excellent visibility and exposure with signage and branding opportunities along Portage Avenue which features an average traffic count of more than 55,000 vehicles traveling past the property on a daily basis; • Over $7 million in building renovations since 2006 including extensive improvements to the mechanical, roof, and electrical systems; • Winnipeg’s economy remains strong, diverse, and growing with the downtown area becoming a thriving “Live - Work - Play” neighbourhood. Available Space Base Rental Rate Additional Rent (sf ±) (psf per annum) (2021 Estimate psf) 33,502 $8.00 $12.00 (Landlord will consider subdividing) 2 Property: The property is a fully developed four-storey office building with a full lower level well positioned within Winnipeg’s Downtown core featuring professionally finished commercial space, extensive building system upgrades, and elevator. Location: Prominently located on the southeast corner of Portage Avenue and Smith Street, three blocks from Winnipeg’s iconic intersection of Portage and Main and the SHED District. Rentable 33,502 SF Building Area: Site Area: 11,225 SF (0.26 acres) Year Built/ Originally constructed in 1900, the building was extensively Renovated: renovated by the current owners in 2006 and included an expansion of the fourth floor, new mechanical, electrical, HVAC, and elevator systems, as well as a complete new office build-out. Office Class C Classification: Zoning & The property is zoned M - Multiple Use with certain exterior Historical Status: and interior elements of the building listed as character defining elements by the City of Winnipeg in accordance with the Historical Resources By-law. The building received a Grade II Historical Designation on October 26, 1999. Amongst other elements, the significant exterior architectural features and terra cotta finishes are to be retained during any alterations. 3 LOCAL AREA OVERVIEW 276 Portage Avenue is strategically located in the heart of Winnipeg’s Central Business District, an area that has experienced unprecedented growth in recent years and is forecasted to continue with over $3 billion in new developments completed, announced, and under construction. The property greatly benefits from being centrally located and within walking distance of many downtown amenities including Portage & Main, BellMTS Place, Portage Place, RBC Convention Centre, and The Exchange District. Access to the downtown skywalk system is one block away at BellMTS Place. The skywalk offers over 2 kilometers of weather protected walkway and connection to 38 downtown buildings including the Millennium Library, and Cityplace. The property is immediately adjacent to Rockport Investment Groups’ St. Regis Hotel site which has been torn down to facilitate a major mixed-used development that would include retail, parking, office and residential units. The property is also ideally situated within walking distant of The Exchange District which provides tenants ease of access to numerous restaurants, shops, and residential options. The area is also home to a growing technology and innovation cluster, supported by Red River College’s creative technology programs and the new Richardson International Innovation Centre currently under construction. The entrepreneurial spirit in the Exchange District thrives with start-up spaces and business resource organizations. 4 DOWNTOWN REVITALIZATION In addition to a host of downtown retail conveniences which comprise a total of 1 million square feet and includes Winnipeg Square, Cityplace, and Portage Place, other nearby attractions include BellMTS Place (home of the Winnipeg Jets), the Millennium Library and the RBC Convention Centre; all forming part of the expanding Sports, Hospitality and Entertainment District (SHED). These Winnipeg landmarks are each within a 10-minute indoor walk from 276 Portage Avenue via the downtown skywalk system. Old Market Square, Winnipeg’s City Hall, the Manitoba Theatre Centre, Pantages Playhouse Theatre, the Centennial Concert Hall, Shaw Park (home of the Winnipeg Goldeyes), the Canadian Museum for Human Rights and The Forks Market are also within easy walking distance from the Portage and Main area. In recent years the downtown population has experienced tremendous growth fueled by the completion of several substantial residential developments and revitalization projects in the area. The downtown area has become more vibrant and offers more amenities to those that live, work, and study in Winnipeg’s core. Over 10,000 people call downtown home, this growth is anticipated to continue as new housing options become available. Currently there are over 1,200 multi-family units planned for the downtown area including Artis REIT’s apartment development at 300 Main Street and the recently completed apartments at True North Square. Located directly behind 276 Portage Avenue at 285 Smith Street the former St. Regis Hotel has been demolished to make way for a new mixed-use development. Local developer Rockport Investment Group is planning a mixed-use project for the site that would include retail, parking, office space and residential units. In the Exchange District, the redevelopment of The Market Lands, previously home to Winnipeg’s Public Safety Building and Civic Parkade, presents an unparalleled opportunity to continue revitalization efforts in the area and features a residential high-rise mixed use development becoming a high-profile destination for the Exchange District. Over the last decade the neighbourhood has undergone a residential renaissance, with historic buildings being converted to condominium and rental apartments now housing over 3,000 new residents. Overall, downtown Winnipeg is making impressive progress in revitalization. The presence of CentreVenture has been significant in driving projects, building relationships and boosting morale in the core while confidence to invest downtown is both building and reflected by high levels of investment and the number of new developments. These investments are supporting the downtown in improving its image as a destination in its own right and attracting a growing residential population. 5 LOCATION Close to 62% of Manitoba’s population lives within Winnipeg’s census metropolitan area dominating the provincial economy in a way few other Canadian cities do. Winnipeg is the seventh (7th) largest city in Canada with a population of 832,186 people, over 100 languages spoken, and is one of Canada’s most multicultural cities offering global companies access to a linguistic and cultural talent pool that meets their needs. Nearly 200,000 international immigrants have moved to Manitoba since 2000 which has been a large factor in the population growth of Winnipeg. Experts also predict the city will add another 12,000 to 13,000 new residents each year moving forward. In 2008, Winnipeg surpassed the national average of population growth – growing by 1.5% every year with the city enjoying stable growth rate ever since. Being located in the heart of North America means Winnipeg is well positioned for both export to global markets and intracontinental distribution and e-commerce order fulfillment. Located only 100 kilometres away from the fourth largest Canada/U.S. border crossing, Winnipeg is connected to the Mid-Continent Trade and Transportation Corridor, providing access to a seamless transportation system that extends from Canada to Mexico. Being in the centre of this corridor provides an advantage to Winnipeg companies looking to ship goods across the continent, as evidenced by the over $25 billion in annual two- way trade between Manitoba and the U.S. in 2017. Whether through fibre-optics, air, road, or rail, there are numerous ways to move goods and services from Winnipeg to the rest of the world. The spirit of community investment and support for the collective has been one of Winnipeg’s historic strengths. Winnipeg is often referred to as a large city with a small town feel. That culture has created a tight-knit and mutually supportive business community which has turned into a strategic advantage for the city. Winnipeg shines and punches its weight well above other Canadian jurisdictions on multiple indicators, all of which demonstrate why its easier to do business, live, and raise a family in Winnipeg than any other major Canadian city. Source: Economic Development Winnipeg 6 1st Floor 7 2nd Floor 8 3rd Floor 9 4th Floor 10 1st Floor 11 2nd Floor 12 3rd Floor 13 4th Floor 14.
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