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INDUSTRIAL INVESTMENT OPPORTUNITY BOUNDARY BAY BUSINESS PARK PHASE ONE
VANCOUVER INDUSTRIAL MARKET
Summary
StatisticsQ4 2015 Q4 2016 Trend
Vacancy Rate 2.5% 1.9% ▼
YTD Net Absorption 1,114,368 S.F. 1,143,399 S.F. ▲
YTD New Supply 608,669 S.F. 974,193 S.F. ▲
Under Construction 1,183,696 S.F. 1,307,777 S.F. ▲
Weighted Avg
Asking Net Rent
PSF
$7.86 $8.62 ▲
Cap Rate (Class A) 5.15% 4.65% ▼
Cap Rate (Class B) 5.75% 5.50% ▼
4
8151 CHURCHILL STREET, DELTAINVESTMENT HIGHLIGHTS
2017 N.O.I. $3,849,737
Avg. Net Rent PSF $8.75
Approx. Site Size 23.49 Acres
Average Remaining Lease
Term5 Years 6 Months
Proposed Sale Price/Cap
Rate
$97,500,000/
3.95%
Price PSF $221
Building Size 439,970 SqFt
Year Built 2014
Site Coverage 43% (Approx.)
Clear Height 36’
Loading Doors74 Dock
4 Grade
On-Site Trailer Parking Stalls 100 Stalls
5
THE OPPORTUNITY
• To acquire a new generation, best in class Tier 1 distribution center in an AAA location
• Diverse national tenant mix with an average of 5.5 years lease term remaining
• Rents are arguably below market, with regional vacancy rate under 1.00%
• Strategic location with close proximity to the South Fraser Perimeter Road and Deltaport
• Scalable asset unlike any other opportunity currently being marketed
6
OFFICE INVESTMENT OPPORTUNITYDOWNTOWN DISTRICT
THE LOCATION
2
SURROUNDING CITY BLOCK
3
PROPERTY DETAILS
4
LEASING AND INCOME ASSUMPTIONS
5
DOWNTOWN OFFICE INVESTMENT ACTIVITY
6
MULTI-RES INVESTMENT OPPORTUNITY TOWER ON THE PARK, KERRISDALE
TOWER ON THE PARK, VANCOUVER
Park Tower – 40 IRR St, Vancouver, BC
Dimensions 462ft X 126 ft
Site Size 58,212 sf (1.33 acres)
Residential Units 83 (15 X Bch, 55 X 1-Bdrm, 13 X 2-Bdrm) -
18 renovated, 65 vacant and not renovated
Rentable Area 50,877 sf
Potential Additional
Density
90,000 sf (2.5 FSR)
West 41st
West 43rd
2
OPPORTUNITY
Continue Renovations
Achievable Renovated Rents Bach: $1,450, 1-BR: $1,850,
2-BR: $2,300
Renovation Costs$25,000/unit => $1,625,000
remaining costs to renovate
Existing Renovated Units
Residential Units
18 renovated and leased
65 vacant and awaiting
renovation
Current Net Operating
Income
$132,473 (only 18/83 units
rented)
Potential Net Operating
Income after Renovation
and Lease Up
$1,444,340
+ 90,000 sf of unrealized density on additional land
3
MARKET STATS
Kerrisdale Residential Land Comps
Address Price Per Buildable SF
6344-6386 E Blvd $486 pbsf (Oct 2016)
5344 E Blvd $501 pbsf (Aug 2016)
2068-2082 W 41st $550 pbsf (June 2016)
1770 Davie, Vancouver
$40M, 1.85%, $522K/unit
2145 Bellevue, West Van $28.3M, 1.4%,
$765K/unit
1441 St Georges, North Van $37.5M,
2.56%, $354K/unit
Kerrisdale Rental
Vacancy Rate
2015: 1.4%
2016: 0.8%
4
INVESTMENT HIGHLIGHTS
Desirable Kerrisdale location (95 Walk
Score, 2016 HH Income of $200K)
Extremely well maintained and
professionally managed
Building is up to code
Scale – 83 Res. Units on a 1.33 acre lot
Successful renovation program in place
Tenant mix – majority of new
tenants are students
Extensive upgrades completed ($1M)
incl roof, plumbing, elevators & balconies
90,000 sf of undeveloped density – no
rezoning required
5
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