- What A private family sold 347-375 St. Laurent Boulevard in Ottawa
- Why Avison Young brokered the off-market deal
- What next The retail plaza was nearly fully occupied at closing
A retail plaza in Ottawa has traded for $7.8m, Green Street News can reveal.
A private buyer acquired 347-375 St. Laurent Boulevard in an off-market deal brokered by Avison Young. The price translates to a first-year capitalization rate of 6%.
A private family offloaded the asset, which is known as Rockcliffe Plaza.
The 22,000 sq ft plaza was completed in 1960. At closing, it was nearly fully occupied. Tenants include Les Grillades Kenayah, Papa Johns and Time Sharpening. There are 2.5 parking spaces per 1,000 sq ft.
The plaza, on over an acre, is at the intersection of St. Laurent Boulevard and Meadow Park Place. Highway 417, Riverside Drive and the Macdonald-Cartier Bridge are within 4 km, while downtown Ottawa is 5 km away.
