- What A Brockville retail plaza is on the market
- Why The owner is targeting a sale of $16m for the fully tenanted property
- What next A submission date for offers will be announced
The seller of an Eastern Ontario shopping centre is looking for offers of $16m, Green Street News can reveal.
The 24,000 sq ft Brockville Crossroads Centre is on 4 acres at 325 Stewart Boulevard in Brockville. The seller is a Toronto-based private investor. Lennard Commercial Realty is marketing the property, and is expected to announce a bid date soon.
The shopping centre has 17 tenants and is fully occupied. Over 90% of the rental income comes from national retail brands including Pizza Pizza, Popeyes and Starbucks. The average weighted lease term is over five years.
There are three drive-through pads on the premises and 148 parking spaces. Approximately one acre of the property is occupied by a Petro-Canada gas station.
The property is less than a kilometre from the nearest on-ramp to Highway 401, via Parkdale Avenue. Some 52,000 vehicles pass by the shopping centre daily on the highway, according to Lennard.
The city of Kingston is 74 km away, and downtown Ottawa is less than 100 km away. The nearest border crossing into New York, at Johnstown, is 25 km away.
Brockville is a destination for over 100,000 annual visitors headed to the nearby Thousand Islands. The archipelago is a popular tourist attraction comprising over 1,800 individual islands along the Saint Lawrence River straddling the Canada-U.S. border.
