- What Two retail plazas in Drummondville, Qué., and Victoriaville, Qué., are for sale for $9m
- Why The properties are fully occupied with national and regional tenants
- What next Avison Young has the listing
A family-owned company is selling two retail plazas in central Québec for $9m, with the price translating to a 7.5% capitalization rate, Green Street News can reveal.
Avison Young is marketing the portfolio on behalf of Rubino Holdings. It comprises a 9,000 sq ft plaza at 5 Robert-Bernard Road in Drummondville and a 7,000 sq ft plaza at 1600 Notre-Dame Street East in Victoriaville.
Both properties were built in 2017. The portfolio is fully leased with a weighted average lease term of four years. Tenants include Allô! Mon Coco, Anytime Fitness, Corbeil Électronique, Mr. Puffs and Rubino Shoes.
The Drummondville property is near Highway 20 in a retail node anchored by Costco, Promenades Drummondville, RONA+ and Tanguay. The Victoriaville plaza is off Route 116, near Home Depot, Walmart and La Grande Place des Bois-Francs shopping mall.
The properties operate under NN and NNN lease structures with built-in rent escalations.
