SLIDE 1
5/09/05 1
5/09/05 2
What are Cornerstone Projects?
Retail centers in Mid-Size Markets Storefront access (no interior mall) Large enough to be dominant in the
market area
Attracts National tenants Drawing “power” to enlarge the trade
The Cornerstone Projects 5/09/05 What are Cornerstone Projects? - - PDF document
The Cornerstone Projects 5/09/05 What are Cornerstone Projects? - - PDF document
1 Springwood Developments Inc. The Cornerstone Projects 5/09/05 What are Cornerstone Projects? Retail centers in Mid-Size Markets Storefront access (no interior mall) Large enough to be dominant in the market area Attracts
SLIDE 2
SLIDE 3
5/09/05 3
Current Projects
Cornerstone Lloydminster Cornerstone Camrose Cornerstone Prince Albert Cornerstone Okotoks Cornerstone Fort Saskatchewan Cornerstone Slave Lake
SLIDE 4
5/09/05 4
Cornerstone Lloydminster
30 Acres 300,000 Sq.Ft. Anchored by Wal Mart Canadian Tire Staples Sobeys
SLIDE 5
5/09/05 5
Cornerstone Lloydminster
SLIDE 6
5/09/05 6
Wal-Mart and Staples
Cornerstone Lloydminster
SLIDE 7
5/09/05 7
Mark’s Building
CornerstoneLloydminster
SLIDE 8
5/09/05 8
Cornerstone Camrose
35 Acres 400,000 square feet Anchored by Wal Mart Safeway Staples Totem
SLIDE 9
5/09/05 9
Cornerstone Camrose
SLIDE 10
5/09/05 10
Safeway
Cornerstone Camrose
SLIDE 11
5/09/05 11
Payless Building
Cornerstone Camrose
SLIDE 12
5/09/05 12
Cornerstone Prince Albert
38 Acres (future expansion to 63 Acres) 400,000sq.ft. Anchored by: Wal Mart Sobeys Future Shop Rona
SLIDE 13
5/09/05 13
Cornerstone Prince Albert
SLIDE 14
5/09/05 14
Wal Mart
Cornerstone Prince Albert
SLIDE 15
5/09/05 15
Future Shop
Cornerstone Prince Albert
SLIDE 16
5/09/05 16
Cornerstone Okotoks
29 Acres 280,000 sq.ft. Anchored by: Wal Mart Sobeys Canadian Tire
SLIDE 17
5/09/05 17
Sobeys
Cornerstone Okotoks
SLIDE 18
5/09/05 18
Bank Of Nova Scotia
Cornerstone Okotoks
SLIDE 19
5/09/05 19
Ricky’s Building
Cornerstone Okotoks
SLIDE 20
5/09/05 20
Cornerstone Fort Saskatchewan
30 Acres 300,000sq.ft. Anchored by: Wal Mart Canadian Tire Safeway United Furniture
SLIDE 21
5/09/05 21
Payless Building
Cornerstone Fort Saskatchewan
SLIDE 22
5/09/05 22
Mark’s Building
Cornerstone Fort Saskatchewan
SLIDE 23
5/09/05 23
Design Themes
Use of brick on buildings for sense of
quality
Classical architectural design elements Brick “hard landscape” elements Decorative light poles Good landscape quality
SLIDE 24
5/09/05 24
Landscape Features at Staples
SLIDE 25
5/09/05 25
Landscape Features
SLIDE 26
5/09/05 26
Typical Pylon Sign
SLIDE 27
5/09/05 27
Why Cornerstone Projects Work
Wal Mart is very strong anchor High % National and Alberta chain
retailers
Land costs attractive: $3.00 to $5.00 /sq.ft. fully serviced Rental rates vs. development costs
reasonable
SLIDE 28
5/09/05 28
Challenges
Land assembly Servicing 3 to 4 year development cycle Significant equity required Construction cost increases
SLIDE 29
5/09/05 29
Summary of Benefits to Community
Increase retail trading radius, and reduce retail
“leakage” to larger cities
Improved shopping opportunities for residents
close to home.
Enhance community’s position as a regional
retail and service center for the region
Increased tax base Positive impact on local economy Infrastructure development Employment – construction and long term
SLIDE 30
5/09/05 30
The Future
Retailers not able to offset increased
construction cost with increased rent
Available markets getting smaller Potential for competitive project in
some markets?
SLIDE 31
5/09/05 31
Questions
SLIDE 32
5/09/05 32