5500 Kingsway, Burnaby

SOLD: 5500 Kingsway, Burnaby, B.C.

Purchase Price: $6,450,000

Sale Date: December 2011

Property Highlights

• 100% freehold interest in a centrally located retail property
• Fully leased to Steve Nash Fitness World until 2019 w/ one 5-year renewal option at market
• Currently below market rental rate
• Generous contractual rent growth
• Covenant strength facilitates financing availability
• Situated on Kingsway, one of the Lower Mainland’s most active corridors and adjacent Metrotown, a rapidly growing town centre area
• High quality construction on a 32,701 SF site
• OCP identifies site for future redevelopment to mixed-use (2.2 FAR)