Status: For Sale

Address: 36 Midlake Boulevard SE & 15422 Bannister Road SE, Calgary, aB

Total NRA: 46,573 SF

Total Site Size: 4.8 Acres (210,226 SF)

Occupancy: 100%

Highlights:

• 100% occupied by a diverse mix of strong national and local tenancies including Scotiabank, TacoTime, Rogers, ACE Liquor, Subway and many others
• Remarkable history of high tenant retention with the majority of the tenants being in occupancy for over 20 years
• Existing rents are 32% below current market, providing a rare and exceptional opportunity to capitalize on the near-term income growth that is accessible over the first 3 years
• Owned and operated by the original developer and is the first time it is available for sale since it was constructed. Midnapore Village Shopping Centre reflects consistent care and long-term asset stewardship, offering investors a stable and well-managed Property
• Retail construction activity in Calgary has dropped to a decade low that has resulted in a supply constraint in the market. This is primarily driven by record net migration into the province and elevated construction costs. Existing shopping centres are experiencing stronger tenant retention and upward pressure on rental rates that is still significantly below what is required in newly constructed shopping centres