Overview
Sitings Realty Ltd. (“Sitings”) is pleased to offer for sale a 100% freehold interest in the retail podium (the “Property”) of Georgetown One, a newly constructed mixed-use project located in the heart of Surrey City Centre. The Property comprises 15,219 SF of ground-floor retail space at Georgetown One, the first completed phase of Anthem’s master-planned Georgetown community. The retail component is held as a separate legal parcel beneath the residential tower through an air space subdivision. The Property is fully leased to a diversified mix of daily-needs, food and service tenants, including LD Pharmacy, Tim Hortons, Popeyes and Pizza Hut. The Property provides durable income with contractual rent growth.
Highlights
STRATEGIC TRANSIT-ORIENTED LOCATION
- Prime Surrey City Centre location, a 10-minute walk from King George SkyTrain Station
- Located at the base of Anthem’s nine-tower Georgetown master-planned community
- Dense and rapidly growing residential catchment supporting long-term retail demand
SECURE & GROWING INCOME
- 100% leased to a diversified mix of national, franchise and daily-needs tenants
- 8.0-year WALT with no lease expiries before 2030
- Fully net leases with contractual rent escalations providing embedded NOI growth
BRAND-NEW CONSTRUCTION
- Newly completed retail component delivered in 2022
- Modern concrete construction with minimal deferred maintenance
- Limited near-term capital requirements and landlord obligations
Details
- Address: 13668 102A Avenue / 13685 102 Avenue / 10225 Whalley Boulevard
- Rentable Area: 15,219 SF
- Retail Units: 11 CRUs
- Year Built: 2022
- Occupancy: 100%
- Parking Stalls: 42 Stalls
- Zoning: Comprehensive Development (CD)
- WALT: 8.0 Years
- Key Tenants: LD Pharmacy, Tim Hortons, Popeyes, Pizza Hut, F45, Oakberry Acai, Georgetown Dental
- Year-1 NOI: Contact Listing Agents
- Price: $14,900,000
Developed By
Inquiry Form
Georgetown 1