BOUNDARY BAY BUSINESS PARK PHASE ONE VANCOUVER INDUSTRIAL MARKET - - PowerPoint PPT Presentation

INDUSTRIAL INVESTMENT OPPORTUNITY BOUNDARY BAY BUSINESS PARK PHASE ONE

VANCOUVER INDUSTRIAL MARKET

Summary Statistics Q4 2015 Q4 2016 Trend

Vacancy Rate 2.5% 1.9% ▼ YTD Net Absorption 1,114,368 S.F. 1,143,399 S.F. ▲ YTD New Supply 608,669 S.F. 974,193 S.F. ▲ Under Construction 1,183,696 S.F. 1,307,777 S.F. ▲ Weighted Avg Asking Net Rent PSF $7.86 $8.62 ▲ Cap Rate (Class A) 5.15% 4.65% ▼ Cap Rate (Class B) 5.75% 5.50% ▼

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8151 CHURCHILL STREET, DELTA

INVESTMENT HIGHLIGHTS

2017 N.O.I. $3,849,737

• Avg. Net Rent PSF

$8.75

• Approx. Site Size

23.49 Acres Average Remaining Lease Term 5 Years 6 Months Proposed Sale Price/Cap Rate $97,500,000/ 3.95% Price PSF $221 Building Size 439,970 SqFt Year Built 2014 Site Coverage 43% (Approx.) Clear Height 36’ Loading Doors 74 Dock 4 Grade On-Site Trailer Parking Stalls 100 Stalls

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THE OPPORTUNITY

• To acquire a new generation, best in class Tier 1 distribution center in an AAA location
• Diverse national tenant mix with an average of 5.5 years lease term remaining
• Rents are arguably below market, with regional vacancy rate under 1.00%
• Strategic location with close proximity to the South Fraser Perimeter Road and Deltaport
• Scalable asset unlike any other opportunity currently being marketed

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OFFICE INVESTMENT OPPORTUNITY DOWNTOWN DISTRICT

THE LOCATION

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SURROUNDING CITY BLOCK

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PROPERTY DETAILS

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LEASING AND INCOME ASSUMPTIONS

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DOWNTOWN OFFICE INVESTMENT ACTIVITY

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MULTI-RES INVESTMENT OPPORTUNITY TOWER ON THE PARK, KERRISDALE

TOWER ON THE PARK, VANCOUVER

Park Tower – 40 IRR St, Vancouver, BC Dimensions 462ft X 126 ft Site Size 58,212 sf (1.33 acres) Residential Units 83 (15 X Bch, 55 X 1-Bdrm, 13 X 2-Bdrm) - 18 renovated, 65 vacant and not renovated Rentable Area 50,877 sf Potential Additional Density 90,000 sf (2.5 FSR)

West 41st West 43rd

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OPPORTUNITY

Continue Renovations

Achievable Renovated Rents Bach: $1,450, 1-BR: $1,850, 2-BR: $2,300 Renovation Costs $25,000/unit => $1,625,000 remaining costs to renovate Existing Renovated Units Residential Units 18 renovated and leased 65 vacant and awaiting renovation Current Net Operating Income $132,473 (only 18/83 units rented) Potential Net Operating Income after Renovation and Lease Up $1,444,340

+ 90,000 sf of unrealized density on additional land

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MARKET STATS

Kerrisdale Residential Land Comps

Address Price Per Buildable SF 6344-6386 E Blvd $486 pbsf (Oct 2016) 5344 E Blvd $501 pbsf (Aug 2016) 2068-2082 W 41st $550 pbsf (June 2016)

1770 Davie, Vancouver $40M, 1.85%, $522K/unit 2145 Bellevue, West Van $28.3M, 1.4%, $765K/unit 1441 St Georges, North Van $37.5M, 2.56%, $354K/unit

Kerrisdale Rental Vacancy Rate 2015: 1.4% 2016: 0.8%

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INVESTMENT HIGHLIGHTS

Desirable Kerrisdale location (95 Walk Score, 2016 HH Income of $200K) Extremely well maintained and professionally managed Building is up to code Scale – 83 Res. Units on a 1.33 acre lot Successful renovation program in place Tenant mix – majority of new tenants are students Extensive upgrades completed ($1M) incl roof, plumbing, elevators & balconies 90,000 sf of undeveloped density – no rezoning required

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