for sale: retail outlet mall development opportunity in

V i c to r i a s t r e e t a n d b u t t r e y s t r e e t : : n i ag a r a fa l l s , o n

land serVices G r o u p

**broker

: : Mike Czestochowski**Senior Vice President 416.495.6257 [email protected]

: : Lauren Doughty Sales Representative 416.495.6223 [email protected]

: : Ian Hunt Sales Representative 416.495.6268 [email protected]

for saLe: retail outlet mall deVelopment opportunity in niagara falls

Victoria

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buttrey st

bridge st

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Niagara falls

outLInes are approx.

raiNbow bridge

luNdy’s laNe

ferry st

Niagara falls, Ny

roberts st

great wolf lodge resort

Via rail Niagara falls

fallsView casiNo

Via rail statioN

bus termiNal

hwy 420

staNley aVe

whirlpool b

ridge

city hall queeN st

morrisoN stValley way

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qew

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future exteNsioN of thorold stoNe road

New gale ceNtre

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cliftoN hill

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New Niagara coNVeNtioN & ciVic ceNtre

peoplemoVer traNsit stop

r e ta i l o u t l e t m a l l d e V e lo p m e n t o p p o r t u n i t yV i c to r i a s t r e e t a n d b u t t r e y s t r e e t : : n i ag a r a fa l l s , o n




**broker

property survey

property H IgHL IgHts

• The subject property is easily accessed via the major border crossings connecting Niagara Falls to the United States. The Rainbow Bridge is just several blocks south, the Queenston-Lewiston Bridge is north and the Whirlpool (Nexus) Bridge is adjacent to the site. Access from the QEW to the site is available by a number of routes; Stanley Avenue/Hwy 405, Thorold Stone Road with its planned extension, Hwy 420/Victoria Avenue. The site is also reasonably accessible from River Road/Niagara Parkway.

• A Peoplemover stop is located steps from the subject property on River Road. The Peoplemover provides visitors to the Falls access to the region’s tourist stops from the Fallsview area to the Whirlpool area.

land size: 51.58 acres

current zoning: light industrial and retail outlet mall

current official plan: industrial (part of special policy area 7)

asKIng prICe: $15,474,000 ($300,000 / acre)

property H IgHL IgHts

• The subject property is located several blocks north of the world famous Niagara Falls - both the Canadian and American side, and the major commercial tourist districts. The subject property is also just south of the Great Wolf Lodge resort, and is immediately adjacent to historic downtown Niagara Falls and the Whirlpool tourism district that is envisioned to be the focus of new future developments to enhance sightseeing, tourism and recreational uses.

• The subject property is well serviced by public transit connecting the site to destinations around Niagara Falls. The VIA Rail Station is located near the southeast edge of the subject property with daily train service from Toronto and New York and GO Transit connections to this station during the summer months from the GTA. The Niagara Falls bus terminal is across the street from the subject property.

*Please Note: Access from River Rd is currently being negotiated with the NFBC and NPC. Although the subject property does not have frontage on River Road, access is currently being negotiated in the form of a right of way to be leased through a property situated along River Rd near the SE corner of the site.

*NOT PART OF SUBJECT PROPERTY


perMItteD uses

Excellent retail and commercial development potential. The subject property is zoned “Light Industrial and Retail Outlet Mall (LI-874) - By-Law No.2009-126” and is approved for 300,000 SF of outlet retail. Current zoning provides for many uses including:

• Art gallery

• Auctioneering establishment

• Bake shop

• Bank, Trust Company, Credit Union, Currency Exchange

• Building supplies shop and yard

• Car rental or truck rental establishment

• Carpenter shop

• Commercial bakery

• Commercial printing establishment

• Contractor’s or tradesman’s shop

• Convenient store

• Dry cleaning establishment

• Funeral Home

• Garden centre

• Laboratory

• Museum

• Office

• OUTLET MALL

• Personal service shop

• Photographer studio

• Place of entertainment

• Production and data processing establishment

• Recreational uses

• Restaurant

• Retail store

• Shop for the repair and servicing of goods, machinery & equipment

• Veterinarian office

• Warehouse

• Wholesale establishment

• Winery

• Accessory retail to a max. of 465 square metres per use

N

V

icto

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buttrey st

Thorold Stone Road is a major entry point into Niagara Falls from the QEW and it is projected to be extended in 2012. Phase 1 will consist of extending Thorold Stone Road to the east side of the Gale Centre Arena. Phase 2 will consist of extending Thorold Stone Road to Victoria Street and Bridge Street, just south of the subject property.

tHoroLD stone roaD extens Ion

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Victoria

st

bridge st

future exteNsioN of thorold stoNe road

gale ceNtre areNa

phase 1phase 2

Currently, both the federal and provincial governments have committed $50 million in total funding towards a “NEW” Peoplemover transit system which will enable more than five million riders to access Niagara Falls attractions in a safe, efficient, and convenient manner.

new peopLeMover trans It systeM

peoplemoVer traNsit stop




**broker

This disclaimer shall apply to CB richard Ellis Limited, Brokerage, and to all other divisions of the Corporation (“CBrE”). The information set out herein (the “Information”) has not been verified by CBrE, and CBrE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBrE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBrE.





**broker

nIagara faLLs tour IsM

great Wolf lodgeGreat Wolf Lodge is North America’s largest family of indoor waterpark resorts, and the ultimate destination for family getaways. Great Wolf Lodge, located north of the subject property, features indoor and outdoor water parks, spas and miniature golf, features three jacuzzis and indoor and outdoor pools. It has several restaurants, a gym and meeting rooms.

surrounDIng attraCt Ions

gale centre arenaA 16.5 acre portion of the former Cytec lands have been remediated and revitalized through the development of a much needed four-pad arena for the City. The facility, located on the west side of the subject property, provides a greater mix of uses in the area and is seen as a catalyst to further development. Entrance to the Arena is currently off of Fourth Avenue from Bridge Street until the Region completes the Thorold Stone Road extension right into the Gale Centre parking lot.

WHirlpool golf courseNiagara Whirlpool Golf Course is one of Canada’s most highly rated and renowned public golf courses. It is owned and operated by the Niagara Parks Commission and is located in a spectacular setting against the backdrop of the Niagara River Whirlpool and Gorge, minutes north from the subject property. Golf Digest has rated Niagara Whirlpool Golf Course as a Four Star facility over the last few years.

• Niagara Falls is the number one tourist attraction in Canada. The Niagara region is a top tourism destination world wide

• Niagara Falls attracts 20 million tourists each year. The city attracts approximately 13 million overnight visitors each year. On average, the City hosts in excess of 10,000 overnight guests per night

• There are about 27,000 visitors staying in Niagara Falls each night during summer months

• The Niagara Fallsview Casino Galleria receives over 9 million visitors per year

• North American visitor average length of stay has increased from 4 to 15 hours

• Construction of two major casino gaming resorts since 1996 has fueled the growth and expansion of Niagara’s tourism sector. Since the inauguration of both Casino Niagara, and the Fallsview Casino, there has been a steady inflow of visitors to Niagara Falls through all four seasons, replacing the historic seasonal flow of visitors

• The newly opened $100-million Niagara Convention and Civic Centre will strengthen the economy of Niagara Falls on an on-going basis through increased visitation and associated expenditures of approximately $93 million.

CB Richard Ellis | 2001 Sheppard Ave. E.| Suite 300 | Toronto, ON M2J 4Z8 | www.cbre.ca/mclsg

for sale: retail outlet mall development opportunity in

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