For Sale Single-Tenant Financial Institution - AWS
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For Sale Single-Tenant Financial Institution
Location Contact
267 Walden Gate SE David Morris* Jon Buckley* Curtis Leonhardt*
Calgary 604 638 2123 604 630 0215 604 638 1999
Alberta dmorris@form.ca jbuckley@form.ca cleonhardt@form.ca
*Personal Real Estate Corporation
For Sale 267 Walden Gate SE Calgary, AB Opportunity The vendor has exclusively retained Form Real Estate Advisors to facilitate the sale of its 100% freehold interest in 267 Walden Gate SE located in Calgary, AB (the “Subject Property”). The Subject Property presents a carefree, triple net investment opportunity consisting of a single-tenant CIBC branch situated adjacent to the Gates of Walden Shopping Centre. Highlights Freestanding retail building with drive-thru comprised of 6,139 SF, servicing the affluent community of Walden in SE Calgary 100% occupied by CIBC on a carefree, triple net lease with term remaining until March 31, 2023 Lease permits the Landlord to recover an administration fee equal to 3.5% of the Basic Rent Constructed in 2012 and subsequently renovated in 2015 when the tenant re-branded the retail premises Strong local population growth driven by significant residential and mixed-use development in the surrounding area Primary Trade Area is projected to grow a minimum of 7,500 people per year beginning in 2019 Area tenants include: Save-on-Foods, Shoppers Drug Mart, Liquor Depot, Pet Planet, ATB Financial, Royal Bank and Scotiabank 02
For Sale
267 Walden Gate SE
194 AVENUE SE
Calgary, AB
MACLEOD TRAIL SE
WALDEN GATE
Salient Details
Municipal Address: 267 Walden Gate SE, Calgary, AB
LINC: 0035 139 237
Plan 1210662 Block 1 Lot 8 Excepting Thereout
Legal Description:
All Mines and Minerals
Site Size: 29,880 SF (0.70 AC) Subject Site
Gross Leasable Area: 6,139 SF IVE
N DR
LDE
WA
Tenant: Canadian Imperial Bank of Commerce (CIBC)
Lease Term: Expires March 31, 2023
Renewal Options: Four (4) x Five (5) Year Renewal Options
Parking: 20 Parking Stalls
Year Built: 2012
Current Zoning: C-C2 (Commercial - Community 2)
In-place debt to be assumed. O/B of
approximately $2.26M with TD Bank at 3.80%
Interest, which matures in June 2023.
Financing:
*Options available for increasing existing loan amount,
subject to TD Bank approval
Year 1 NOI: $284,554
Administration Fee: $9,884 / annum (3.5% of Basic Rent)
Asking Price: $5,200,000
Cap Rate: 5.50%
03
For Sale
267 Walden Gate SE
Calgary, AB
Demographics
Calgary Population (2018)
Location Overview
1,359,777 267 Walden Gate is located in the new residential neighbourhood of Walden in the southeast
quadrant of Calgary. Walden is a 166-hectare community near the southern edge of the city,
south of 194 Avenue SE and the neighbourhood of Chaparral. It is bordered by the Bow River
Valley to the east, to the south by the community of Legacy, and to the west by Macleod Trail
Projected Growth Rate (2018 - 2023) which provides direct access into downtown Calgary. The Subject Property benefits from a central
location, surrounded by up-and-coming and affluent residential neighbourhoods providing an
10.9% excellent local market catchment. Overall, the Subject Property occupies 0.70 acres featuring a
generally rectangular configuration with frontage along Walden Gate and Walden Drive, including
two separate access / egress points.
Market Overview
Population (Within 3 KM)
28,810
Calgary is Alberta’s largest city and the fourth largest census metropolitan area (CMA) in Canada. It
is situated at the confluence of the Bow River and Elbow River in the south of the province, about
80 km east of the front ranges of the Canadian Rockies. The city of Calgary has experienced a
significant increase in population in recent years and it is projected that this trend will continue
well into the future. Environics estimates that the population will increase 10.9% by 2023,
translating to 148,215 new residents and a population of 1,507,993. Average household income
Households (Within 3 KM)
within 3 km of the Subject Property totals $172,925, projected to increase 9.9% to $190,097 by
9,559
2023 and exceeding the national average by 69.5%.
Tenant Highlights
Average Household Income (Within 3 KM) One of the Big Five Banks in Canada, the Canadian Imperial Bank of Commerce is a
$172,925
highly diversified financial services provider with a market cap of $46 billion (January
2019) and 45,000 employees. CIBC ranks as Canada’s fifth largest bank, servicing
customers through personal, business, public sector and institutional offices in
Canada, the U.S. and internationally.
04
For Sale
3
267 Walden Gate SE
Calgary, AB
Surrounding Developments
# Development Developer Description
- New single family home development currently under construction.
1 Walden Excel Homes
- Total of 43 units, with two quick move-in homes currently for sale.
- New single family home development currently under construction.
2 Walden Semi's Homes by Avi
- Total of 142 units, with five quick move-in homes currently for sale.
- New single family home development currently under construction.
3 Walden - Front Attached Homes Homes by Avi
- Total of 221 units, with 10 quick move-in homes currently for sale.
- New townhouse development currently under construction.
4 Axis in Walden Rockford Group
- Total of 72 units.
- New townhouse development currently under construction.
5 Jackson at Walden Avi Urban
- Total of 150 units.
- 1.5 million square-foot mixed-use development on 60 acres of land.
6 Township Royop Development Corporation - 300,000 square feet of retail to open in Spring 2021. When the project is finished by the end
of the decade, it will consist of approx. 800,000 square feet of retail space.
- New condo and townhouse development currently under construction.
7 Walden Place Cardel Lifestyles
- Total of 468 units.
- New townhouse development currently under construction.
8 Holland Park Excel Homes
- Total of 126 units.
- New townhouse development currently under construction.
9 Winston at Walden Avi Urban
- Total of 196 units.
05
For Sale
267 Walden Gate SE
Calgary, AB
Aerial
Calgary Airport
DOWNTOWN
CALGARY
Subject Property
Drive Times
To Calgary Airport: 35 Mins
To Downtown Calgary: 28 Mins
06
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available
to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has
been prepared to provide summary, unverified information to prospective purchasers, and to establish only a
preliminary level of interest in the subject property. The information contained herein is not a substitute for a
thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty
or representation, with respect to the income or expenses for the subject property, the future projected financial
performance of the property, the size and square footage of the property and improvements, the presence or
absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the
physical condition of the improvements thereon, or the financial condition or business prospects of any tenant,
Form / Marcus & Millichap or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in
1280-333 Seymour Street T 604 638 2121 this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap
has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted
Vancouver, BC V6B 5A6 F 604 638 2122 any investigation regarding these matters and makes no warranty or representation whatsoever regarding the
accuracy or completeness of the information provided. All potential buyers must take appropriate measures to
verify all of the information set forth herein.
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified
in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or
imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or
subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for
the purpose of providing tenant lessee information about this listing to prospective customers.
This information has been secured from sources we believe to be reliable, but we make no representations or
warranties, express or implied, as to the accuracy of the information. References to square footage or age are
approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a
trademark of Marcus & Millichap Real Estate Investment Services, Inc. Used under license by Marcus & Millichap
Real Estate Investment Services Canada Inc. © 2019 Marcus & Millichap. All rights reserved.
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