- What A retail plaza has been put up for sale in Calgary’s Quarry Park area
- Why More than 96,000 people live within 5 km of the property
- What next About 2,000 more housing units are planned for the area over the next five years
A retail plaza in southeast Calgary’s Quarry Park has hit the market with a price tag of $56m, Green Street News can reveal.
The 91,000 sq ft Market at Quarry Park is anchored by a Co-Op grocery store. At the expected valuation, a buyer’s capitalization rate would be 6.4%. JLL has the marketing assignment.
The plaza has 18 units that were built between 2009 and 2011. The property is fully leased, with a weighted average lease term of 5.5 years. Tenants include Dollarama, Original Joe’s restaurant and Starbucks.
The property is close to public transport and Highway 2. There are 407 parking stalls.
On 10 acres at 18th Street SE and Quarry Park Boulevard SE, Market at Quarry Park is 10 km south of downtown Calgary in a growing part of the city. There are three residential towers adjacent to the property, with a fourth being built. Another 2,000 housing units are planned for the area over the next five years.
There are 96,000 people within 5 km of the market with an average income of $139,000.
