A 39,037 SF plaza, shadow anchored by Walmart Supercentre and The Home Depot in the heart of Sault Ste. Marie’s premier retail node, less than 1 km away from both Sault College and Sault Area Hospital, both of which are strong regional draws for a wide trade area.
The plaza is 91.5% occupied by a full roster of national tenants including Michael’s, PetSmart, Pita Pit, Booster Juice, Easy Financial, The Ten Spot and Weight Watchers.
This property presents the opportunity to add additional density of approximately 12,000 SF adjacent to the PetSmart. This would allow the investor to add value, benefiting from the high consumer volumes this node generates.
The Property is situated on Second Line (Trans-Canada Highway), one of the city’s most travelled transportation routes with over 32,000 vehicles traversing the site daily.
Address: 710 Second Line East, Sault Ste Marie, Ontario
Intersection: Second Line East and Great Northern Road
GLA:39,037 SF (plus an opportunity for 12,000 SF of additional development)
Site Area:5.36 acres
Year Built: 2012 (Michaels), 2014 (PetSmart), 2017 (New multi-tenant pad)
Parking: 235 Stalls (13.8 per 1,000 SF)
Tenants: Michaels. PetSmart, Pita Pit, Booster Juice, EasyFinancial, The Ten Spot, Weight Watchers
National Tenants: 100%
WALT: 4.52 Years Remaining
This Property offers the investor a newly redeveloped centre with secure cash flow and a weighted average lease term of 4.52 years.
The site offers an exceptional opportunity to increase cash flow by intensifying the property by adding approximately 12,000 SF adjacent to the PetSmart.
The centre is 91.5% leased with 100% of occupied space represented by national brands. The tenancy profile is strong with a diverse mix of service-oriented and needs-based retailers drawing consumers to the plaza for a variety of retail good and services.