“478 Bernard Avenue” is situated on a high profile site at the corner of Bernard and...
Current Offering – Lakewood Shopping Centre
Net Leasable Area
The business and purpose of the Partnership is to acquire a 100% interest in Lakewood Shopping Centre located at 11852 Highway 97, Lake Country, BC, and thereafter to:
- Reposition the asset as a lifestyle neighbourhood shopping centre anchored by two national brands (Tim Hortons & Dollarama)
- Renovate and refurbish the exterior of the building (constructed 1980) to take advantage of its prime location on Highway 97 opposite Wood Lake and Turtle Bay Marina Resort Hotel, and subsequently maximize market rents ($25 – $35/square foot)
- Install two-stop service lift to mall basement to facilitate lease of 15,000 SF of vacant space (former bowling alley and pub)
- Consolidate five (5) small CRUs on east side of mall to facilitate new lease of 6,000 SF to national brand seeking highway exposure
- Internalize the common area of the mall interior to create an additional 4,000 SF of leasable area
- Own and operate a stabilized, positive cash-flow asset over a 3 to 5-year investment horizon
- Exit Strategy: position property as superbly situated, 2.99 acre, water-front redevelopment site with stabilized holding income 20 minutes from downtown Kelowna
LP Equity required: $8,485,000
For more information email: firstname.lastname@example.org
Available to accredited investors only.
- Located 20 minutes from downtown Kelowna
- Anchor tenants Tim Hortons and Dollarama
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