rare commercial investment opportunity · 12/19/2017 · • approx. $495,000 per year net income...

Rare Commercial Investment OpportunityTriple Net Land Lease with BestBuy

Free Standing Building | Approx. 37,080 SF | Approx. 3.2 Acres

1080 Wellington Road - London, Ontario

TEL +1 519 438 5588FAX +1 519 438 8979

www.Cushwakeswo.com

620A Richmond Street, 2nd Floor, Box 19London, Ontario N6A 5J9

519 438 5588 Telephone519 438 8979 FaxIndependently Owned and Operated / A Member of the Cushman & Wakefield Alliance

Subject Property

CUSHMAN & WAKEFIELD SOUTHWESTERN ONTARIO | 2

COMMERCIAL INVESTMENT OPPORTUNITY

Address : 1080 Wellington Road, London

Property Tax : $182,199 (2016)

Legal Description : PT LT 25 CON 2, PT 3 33R7922 LONDON / WESTMINSTER

Site Area : Approximately 3.2 acres

Frontage : 303.75 Feet frontage along Wellington Road

Zoning : ASA 1, 2, 3, 5, 6 – Associated Shopping Area

Property Type : Single Tenant – Free Standing Building

Number of Units : One

Coverage : Approximately 53.8%

Year Built : +/- 15 years old approximately

Building Area: Approximately 37,080 sq.ft.

Roof : Flat Roof Tar and Gravel, replaced approximately 5 years ago

Clear Height : 20 ft feet plus

Shipping : Dock loading door

Power : 3 Phase (buyer to verify)

HVAC : Fully air conditioned

Surface Parking : Approximately 195 parking stalls

Ingress / Egress Points : Wellington Road and Dearness Drive

Tenants : BestBuy Corporate Lease

Occupancy Rate : 100%

PROPERTY HIGHLIGHTS

► 37,080 sf Buidling – Leased to BestBuy

► 100% leased building

► Located in South London, strong Tenantcovenant

► Significant frontage onto Wellington Road andlocated directly across the street fromWhiteOaks Mall

► On-site parking, up to Approx. 195 vehicles

ASKING PRICE $10,590,000


Cushman & Wakefield, as exclusive investment advisor and broker, is pleased to offer for sale 1080 Wellington Road, London, acommercial property located in south London, Ontario (the “Property”). The Seller has adopted is a “Modified Bid” process and willentertain offers for the Property. Interested parties are invited to submit an Offer that addresses the requirements outlined below.From the submissions, one or more of the Offers may be short listed to proceed to the next stage of the process where it is the intentof the Seller to enter into a binding Agreement of Purchase and Sale for the subject property. The Seller is not obligated to acceptedany of the submissions if they so choose.

Bid Submission:

All Offers are to be submitted either via email to:[email protected] or [email protected]

or delivered to:Cushman & Wakefield Southwestern Ontario, Brokerage Attn: Tyler Desjardine620A Richmond Street, 2nd Floor, Box 19, London, Ontario, N6A 5J9

Upon the Buyer signing a Confidentiality Agreement, a full Marketing Package and Financial Information can be provided to the Buyer for their review.

All Offer’s must include, at a minimum, the following: • Offering Purchase Price• Buyer Conditional Period timeline / structure• Deposit Structure• Buyer’s suggested Closing Date• Any material terms or conditions required by the Buyer;• Names of the ultimate beneficial owners of the Buyer, including their respective percentage interests;• Adequate evidence of the Buyer’s financial ability to complete the transaction.

THE OFFERING PROCESS


1080 Wellington Road, London, Ontario

Kenn Poore, Broker519.438.5588 ext. [email protected]

Tyler Desjardine, Sales Representative519.438.5588 ext. [email protected]

Bob Vrenjak, Sales [email protected]

Current Net Operating Income: • Approx. $495,000 per Year Net Income for the Land Lease

with BestBuy• As of Feb 2018, the rent increases to $530,000 Net (NNN)

per year• Triple NNN Land Lease with BestBuy. Tenant looks after

all maintenance, repairs etc..

Current Net Operating Income: • Original Lease was signed for 20 Years• Current Term End Date: January 31, 2023• Renewal Options: Four Renewal options of 5 years each• Rent increases for Each Renewal Option• Phase 1 Environmental Report available for Review

Subject Property


Located in the heart of southwestern Ontario, London has witnessed significant

economic growth in the past years.

Situated between Toronto and Detroit, London is Canada’s 10th largest City, and is

positioned to provide many benefits to businesses and boasts an increasingly

diverse economy.

Many national and international businesses have chosen London as a Canadian home due to its strategy location to NAFTA super highways and border crossings, accessible pool of skilled labour, comparatively lower

costs of doing business and a highly desirable quality of life.

Population+

City 366,151

Census Metropolitan Area 474,786

Workforce Demographics

Labour Force 260,700

Unemployment Rate 8.2%

Manufacturing employment 27,700

Automotive employment 15,800

Life Science employment 18,000

IT employment 8,000

Agr-Food processing 7,000

Disclaimer Although the information contained within is from sources believed to be reliable, no warranty or representation is made as to its accuracy being subject to errors, omissions, conditions, prior lease, withdrawal or other changes without notice and same should not be relied upon without independent verification. Cushman & Wakefield Southwestern Ontario, Real Estate Brokerage. 2014®

Contact UsKenn Poore, Broker519.438.5588 ext. [email protected]



LOCATION HIGHLIGHTS

Subject Property

DAILY TRAFFIC COUNT: Approximately 35,000 vehicle per day


LOCATION ZONINGThe following are permitted uses in the ASA2 Zone variation:

a) (Hardware stores deleted byZ.-1-96435)

b) (Home and auto supply storesdeleted by Z.-1-96435)

c) Home improvement/furnishingsstores deleted by Z.-1-96435)

d) Repair and rentalestablishments;

e) Restaurants;f) Retail stores;g) Service and repair

establishments;h) Studios;i) Supermarkets;j) Video rental establishments;k) Brewing on Premises

Establishment.(Z.-1-021027)

The following are permitted uses in the ASA3 Zone variation: a) Clinics;b) Day care centres;c) Laboratories;d) Medical/dental offices;e) Offices, professional;f) Offices, service.

The following are permitted uses in the ASA5 Zone variation: a) Automobile repair garages;b) Automotive uses, restricted;c) Restaurants;d) Taxi establishments.

The following are permitted uses in the ASA1 Zone variation in the form of a shopping centre:

a) Animal hospitals;b) Convenience service

establishments;c) Convenience stores;d) Dry cleaning and laundry plants;e) Duplicating shops;f) Financial institutions;g) Grocery stores;h) Restaurants;i) Retail stores;j) Personal service establishments;k) Pharmacies;l) Printing establishments;m) Video rental establishments;n) Brewing on premises

establishment. Z.-1-95390)

The following are permitted uses in the ASA6 Zone variation: a) Commercial recreation

establishments;b) Restaurants;c) Taverns.

Contact Us

Kenn Poore, Broker519.438.5588 ext. [email protected]



rare commercial investment opportunity · 12/19/2017 · • approx. $495,000 per year net income...

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