Overview
On behalf of the Vendors, Sitings Realty Ltd. (“Sitings”) and Axford Real Estate Inc. (“Axford”) are pleased to offer the 100% fee simple interest in 33655 Essendene Ave & 33585 South Fraser Way, Abbotsford, BC known as Abbotsford Centre Mall. Abbotsford Centre Mall consists of 48,213 rentable SF of retail on 3.71 acres of land situated in Abbotsford BC, one of the fastest growing suburbs of Greater Vancouver. Abbotsford has significant employment drivers such as a regional hospital, a large post secondary educational institution, an International Airport, convention centre and a large commercial agricultural sector creating a strong average household income of $120,000 per year. The immediate area surrounding the properties is historic downtown Abbotsford, an amenity rich neighbourhood with trendy shops, services and restaurants. The subject property has excellent vehicle access with expansive frontage and proximity to major regional roads. Relatively affordable home prices, a solid employment base, and a wealth of amenities make Abbotsford an appealing place to live and work. These factors support continued residential construction and business activity growth, and therefore the underlying potential of real estate in the Abbotsford market.
Highlights
Anchored by Dollar Tree, Fraser Health and Sprott Shaw College, Abbotsford Centre Mall provides stable holding income from international, regional and government covenant tenants. Given the properties strategic location within Abbotsford Historic Downtown Neighborhood, there is opportunity to upside to potential future redevelopment. At the same time, the properties benefit from stable holding income and present an attractive covered land opportunity to investors and developers alike.
- Central Abbotsford, adjacent to the historic downtown
Immediate neighborhood has attractive retail amenities, including independent coffee shops, bakeries, restaurants, and retailers. - Strategic Location
High exposure location with over 200’ of frontage on South Fraser Way. - Growing Numbers
Steady population growth with 6.5% growth since 2018 and additional 9%+ growth planned by 2028 - Optimal Design
Ample parking, excellent street exposure, extensive frontage and easy access from 3 major roads – McCallum Road, South Fraser Way, and George Ferguson Way. - Secure Income
Secure cash flow derived from tenants with strong covenants. - Potential Income Growth
The shopping centre is fully leased with average rents below market. - Future Upside
Abbotsford’s official community plan designates the land for higher density use, driven by the strong population growth in the Abbotsford market.
Details
- Property Type: Big Box Anchored Community Shopping Centre
- Municipal Address: 33655 Essendene Avenue & 33585 South Fraser Way, Abbotsford BC
- Rentable Area: 48,213 SF
- Site Area: 3.71 Acres
- Zoning/OCP: C7 / OCP – Historic Downtown Commercial Address (urban Centre – Mixed use 2.5 FSR)
- Year Built: 1977
- Tenancies: Dollar Tree, Sprott Shaw College, Fraser Health, Bell, Thompson Community and BC Foam
- Occupancy: Fully Leased
- Parking: 180 Stalls (4.2 stalls/1000 SF)
- Current NOI (2024) & Data Room Contact Listing Agents
Anchor Tenants
Inquiry Form
Abbotsford Centre Mall