任务 Junction Shopping Centre

关于 the property

任务 Junction Shopping Centre is a dominant, grocery-anchored shopping center in 任务, 英属哥伦比亚, the second-fastest growing district in the province 和 approximately 75 kilometers east of downtown Vancouver.

Built in various stages between 1998 和 2006, the total footprint is just over 272,000 square feet.

Investment rationale 和 value creation

At the time of acquisition, the property had an expiring movie theatre lease 和 a 60,000 square feet food store looking to downsize, as well as several as-of-right pad development possibilities.

The LaSalle Canadian value-add investments team built 和 leased a new 23,000 square foot pad for a large retail tenant 和 5,000 square foot food 和 beverage-anchored drive-thru. 除了, the team completed new, renewal 和 expansion leasing totalling in excess of 250,000 square feet including both the movie theater 和 grocery store on 10-year terms.

我们取得的成就

When the 任务 Junction Shopping Centre was sold in Q4 2021 it was 96% leased with a weighted average lease term of almost five years. The agreed sale price represented a strong profit for our investors.