Capital Commercial Investment Services (“Capital”) is pleased to offer for sale a 100% interest in 365 Osborne Street (the “Property”) on behalf of its client, Artis REIT (the “Vendor”).
This institutionally owned and managed asset consists of a total of 75,986 sq. ft. of gross leasable area on a total of 4.21 acres of land. Fully leased to Bell Canada, a strong national telecom tenant with long standing tenancy history at this site, the asset offers potential to add value through negotiation of escalating renewals.
- Institutional Quality: The institutional nature of both ownership and management will provide investors with confidence in the asset itself as well as the associated documentation.
- Redevelopment Value: The Property offers an inherent value backstop through a feasible and compelling multifamily redevelopment opportunity. The Vendor has completed a feasibility study for future RMFL density options, buyers will have access to the study for review in the data room.
- Superior Location: The Property is well-located on a major transit route with excellent exposure and access. Located near Downtown Winnipeg and the Southbound Blue rapid transit line at Osborne Station, the site provides for easy access to Downtown Winnipeg and the Southwest Quadrant of the City of Winnipeg.
- Stability: The asset’s single-tenant nature and its location in Winnipeg’s diverse economy serve to provide excellent stability in terms of cash flow and value.
- Below Replacement Cost: Opportunity to acquire a suburban office asset at well below the replacement cost of a similar size and quality office asset.