Commercial Property Commercial Sold, Sold

9635 137 Street

Summary

CIVIC ADDRESS 9635 137th Street, Surrey, BC
PARCEL IDENTIFIER 009-708-197
SITE AREA 7,200 Sq. Ft.
*approximate
BUILDING SIZE 5,600 Sq. Ft.
LEASE TERM 10 years with 1x5 year option to renew
ADDITIONAL RENT  $9,00 per Sq. Ft.
NET OPERATING INCOME $132,111 (years 1-3)
$134,400 (years 3-6)
$140,000 (Years 6-9)
$145,599 ( Year 10)
CAP RATE 3.77%
STATUS FIRM DEAL

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The Opportunity

CBRE Investment Properties Group is pleased to present the opportunity to acquire a newly constructed, free standing fully leased medical building in the heart of the new Health & Technology District in Surrey City Center, directly across from Surrey Memorial Hospital & BC Cancer Agency.

The offering comprises a free standing 3 level building with approximately 5,600 sqft. of leaseable space. 8 parking stalls dedicated at the rear of the building exclusively for customers/patients and an full service elevator.

The Subject Property is less than a six minute walk to King George Skytrain Station the building is located directly across the street from the 450,000 sqft. CC1 medical and professional three phase development. CC1 was completed in 2014 and is compromised of 180,000 sqft. Over 11 storeys of office space and ground floor retail.

The current tenant of the property is CBI Health Group - the largest provided of community healthcare services in Canada. They have signed a 10 year term with escalating net rents. The lease is fully triple net with the tenants paying all operating expenses.

Property Photos