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$ 10,500,000
Est. payment /mo
Active
32525 Simon AVE Abbotsford, BC V2T 6T6
0.57 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type Asset
MLS Listing ID C8078184
Lot Size 0.570 Acres
Property Sub-Type Office
Property Description
A rare opportunity to acquire a fully leased, government-anchored office building in the heart of Abbotsford's rapidly transforming City Centre. The Property offers the ability for prospective purchasers to secure premium office space for their own occupancy, collect stable government-backed income, and benefit from significant long- term redevelopment upside under the highest density land use designation in all of Abbotsford. The building is 100% leased to four tenants, anchored by the Government of Canada and the Province of British Columbia, collectively occupying over 80% of the building. Staggered lease expiries over the next two to three years present a user with a clearly defined path to occupying meaningful square footage while enjoying secured holding income throughout. For the investor, these same expiries represent an opportunity to relet at materially higher market rents in a supply-constrained office market, or to capitalize on the property's City Centre Residential land use designation.
Location
Province BC
Community Abbotsford West
Area Abbotsford
Zoning C5-CITYCENTRE COMM
Others
Ownership Freehold
