Tri-City Plaza presents a rare opportunity for an investor to purchase a shadow grocery anchored shopping centre in a prime retail node in the growing Cambridge market. The Property is a 171,815 SF centre at the high profile location of Hespeler Road and Highway 401. Shadow anchored by a large Zehrs supermarket and with major tenants including SAIL Outdoors, Crunch Fitness, Treasure Hunt and Dollarama as well as 4 drive-through retail pads, the Property is perfectly suited within an expansive and accessible trade area.
The Property is currently 100% leased with a weighted average lease term (WALT) of 6.0 years remaining and an average in-place base rent of $14.88 PSF. The rapid increase in retail rents and high replacement costs provides for strong cash flow growth. There is favourable in-place debt which could also help leverage returns for investors.