171 Hollywood Road South, Kelowna, BC

FOR SALE | Income Producing Property with Future Development Potential • Excellent Cash-Flow • Long-Term National Tenant • Lease Secured by AAA Corporate Covenants • 12,119 SF Free-Standing A-Class Building • 72,309 SF Corner Site (1.66 Acres) • Future Development Potential

• Opportunity
• To acquire a 12,119 SF free-standing A-Class building on a 1.66 acre corner property in Kelowna, British Columbia. Superb cash-flow for investors with long-term lease secured by AAA corporate covenants. The Covenantors are Rexall/Pharma Plus Pharmacies (BC) Ltd., McKesson Corporation and Dollarama L.P. The current Tenant is Dollarama.
• Location
• The property is located at the high exposure intersection of Highway 33 and Hollywood Road in Rutland. Kelowna is the 7th largest city in British Columbia.
• Building Description
• The 12,119 SF single level high quality free-standing retail building was constructed in 2010. The building accounts for 17% of the total site area. Drive-thru not currently being used by tenant.
• Lease
• Lease in place until August 31, 2030. There are 2 x 5 year tenant renewal options at the minimum of the previous lease rate of $636,082.68 per annum.
• Tenant/Covenantors
• The operating tenant is Dollarama. The Covenantors are Rexall/ Pharma Plus Pharmacies (BC) Ltd., McKesson Corporation and Dollarama L.P. In 2016, McKesson Corporation acquired Rexall Health from Katz Group. McKesson is ranked #9 on the Fortune 500.