Shoppes on Avenue (the “Property”) is a 20,884 sf grocery-anchored retail centre located at 1705-1725 Avenue Road in Toronto, Ontario. Situated in North Toronto, the Property offers over 300 feet of frontage along Avenue Road, a major north-south corridor, providing strong visibility and direct access to Highway 401 and Lawrence Avenue. The Property is 100% leased and anchored by Ambrosia Natural Foods, a high-performing grocer specializing in organic foods, vitamins and cosmetics, occupying approximately 56% of total gross leasable area. The remainder of the tenant roster is comprised of a complementary mix of necessity-based tenants, including BMO, Rogers, a prosthodontist and a physiotherapy clinic, supporting consistent daily traffic. The Property features a weighted average lease term of 5.9 years, providing a secure cash flow stream. The Property further benefits from 73 dedicated underground parking stalls. The retail-designated stalls enhance accessibility and customer convenience, while representing a rare and valuable feature among comparable urban retail assets in Toronto. Strategically positioned on Avenue Road just north of Lawrence Avenue, the Property benefits from its close proximity to an affluent residential node. Within a 2 km radius, the surrounding population totals nearly 75,000 residents, supported by an average annual household income exceeding $300,000 and average dwelling values of ~$2.1 million, approximately 116% above the provincial average. The offering comprises the retail component of a mixed-use development, with retail space positioned at the ground level beneath a 7 storey, 80 unit condominium. The condominium and retail portions operate under a cost sharing arrangement, detailed in the Confidential Information Memorandum. RBC Capital Markets Realty Inc. has been retained on an exclusive basis by RioCan Holdings Inc. to arrange for the sale of a 100% interest in the Property.