- What A shopping mall on more than 14 acres is for sale in Salmon Arm, B.C.
- Why The mall has several high-profile tenants
- What next Marcus & Millichap and Cushman & Wakefield have the assignment
A 226,000 sq ft shopping mall in Salmon Arm, B.C., has hit the market hoping to bring in $30m, Green Street News can reveal.
The Mall at Piccadilly, on 14.4 acres at 1151 10th Avenue SW, has several major tenants, including Canadian Tire, Save On Foods and Shoppers Drug Mart.
Marcus & Millichap and Cushman & Wakefield have teamed up on the marketing assignment.
Built in 1977, the property is 97% occupied, with 85% of the $2m of net operating income coming from AAA corporate tenants.
The weighted average lease expiry is just over four years.
Marketing materials note the mall is a dominant retail centre in the region, which has seen a recent resurgence of retail assets.
Next to Highway 1, the mall is 1 km from downtown Salmon Arm. The property has 785 parking stalls.
Salmon Arm is a hub city in the Columbia-Shuswap region with more than 20,000 residents. It is 300 km northeast of Vancouver.
