Hextall Place 6404 Bowness Rd NW

On behalf of the Vendor, the Colliers Investment Sales Team is pleased to announce our new sale listing for Hextall Place, the most prominent street-front retail plaza on the Bowness NW Commercial Corridor. The opportunity is to purchase a 100% freehold interest in Hextall Place, a well-leased retail plaza with a Tim Horton’s pad site, a second floor residential component and a 0.56 acre parcel of excess land which is ideally positioned for a multi-family project. Hextall Place features a synergistic mix of financial, medical and restaurant tenants and attractive income fundamentals with recent leasing momentum. The property services Bowness and the surrounding Northwest Calgary neighborhoods, each of which feature attractive demographic profiles. It offers investors a stable and growing cash flow in a visible and highly accessible retail location on Bowness Road NW. The existing tenants provide average in-place rents of $27.20 PSF and a weighted average remaining lease term of 5.6 years. The opportunity exists to increase the property’s income by way of existing contractual rental rate steps and new and renewal leasing.