- What A retail centre on a 4-acre parcel in northwest Calgary is asking $21m
- Why The centre is 100% leased
- What next Most tenants have more than five years left on their leases
Prime Funds is asking $21m for a Calgary retail centre, with the price translating to a capitalization rate of 6.5%, Green Street News can reveal.
Urban Realty has the marketing assignment for Royal Vista Square, at 4 Royal Vista Way NW. The centre, on 4 acres, comprises three multi-tenant buildings and a single freestanding building. The buildings span a collective 39,000 sq ft with 13 retail units.
Built in 2019, the centre is 100% leased with a range of tenants including a 7-Eleven gas station and a Mr. Lube. Most tenants have more than five years left on their leases with periodic rent increases, according to marketing materials.
Royal Vista Square is 14 km northwest of downtown Calgary and near a number of retail centres, including a Sobeys grocery store 300 m away.
