Centre Square Mall 5022 49th St 81,512 SF 100% Leased Office Building Yellowknife, NT X1A 1M1 £4,547,306 (£55.79/SF) 9.21% Net Initial Yield
INVESTMENT HIGHLIGHTS
- For decades Centre Square Mall has served as the only enclosed mall in the Northwest Territories.
- The asset benefits from underground parking – an imperative advantage during the winter months.
- Continued momentum on filling vacancy with a tourist-friendly tenant mix will further synergies between the mall and the adjoining hotel.
- The adjoining building also connects to the library, residential units, and the Quality Inn & Suites hotel.
- The recent additions of Tim Hortons and the City of Yellowknife Visitor’s Centre have aided towards making the mall more pedestrian friendly
EXECUTIVE SUMMARY
Avison Young is pleased to present an exclusive opportunity to acquire freehold interest in Centre Square Mall (the “Property”).
Centre Square Mall is an 81,512 square foot retail & office centre in Downtown Yellowknife. The Property is a part of a larger mixed-use condominium complex with an above and below grade parkade. Located on 49 Street, just south of Franklin Avenue, the Property is surrounded by other office buildings, hotels, restaurants, and city amenities.
Yellowknife is the capital city and business centre of the Northwest Territories. The federal, territorial and municipal governments are the largest occupiers of space in the downtown office market.
Centre Square Mall is an 81,512 square foot retail & office centre in Downtown Yellowknife. The Property is a part of a larger mixed-use condominium complex with an above and below grade parkade. Located on 49 Street, just south of Franklin Avenue, the Property is surrounded by other office buildings, hotels, restaurants, and city amenities.
Yellowknife is the capital city and business centre of the Northwest Territories. The federal, territorial and municipal governments are the largest occupiers of space in the downtown office market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
81,512 SF
Building Class
B
Year Built
1990
Price
£4,547,306
Price Per SF
£55.79
Net Initial Yield
9.21%
NOI
£418,758
Percent Leased
100%
Tenancy
Multiple
Number of Floors
8
Typical Floor Size
10,189 SF
Building FAR
1.46
Lot Size
1.28 AC
Zoning
C-1 - Core Commercial Downtown
1 of 1
Walk Score®
Walker's Paradise (92)
