River City Centre is a well-maintained power centre featuring a high exposure site layout and ample parking (4.80 stalls per 1,000 SF) delivering exceptional leasing fundamentals.
The Property is 95% leased with a weighted average lease term of 4.74 years. This defensive investment opportunity provides secure and stable cash flow with contractual rental rate growth.
The Property’s top five tenants by revenue – Dufresne, Staples, Planet Fitness, Giant Tiger and Mission Thrift Store – account for 70.2% of the leased GLA and 68.2% of the Centre’s Year 1 in-place base rent.
The Property provides excellent visibility due to its frontage on Circle Drive, Saskatoon’s ring road that provides easy access to all of Saskatoon. Circle Drive flows into Yellowhead Highway (Highway 16), a major interprovincial highway.
Saskatoon is one of the fastest growing urban centres in Canada and draws from a significant trade area from neighboring townships. Retail sales in the Province grew by 13.1% between February 2021 and February 2022 ranking Saskatchewan first in percentage increase of retail sales in Canada. National retail sales increased by 7.3% in comparison, attesting to the strengthening market dynamics of this Prairie province.
Address: 810 Circle Drive East, Saskatoon, SK
Intersection: Circle Drive East and Millar Avenue
Site Area: 13.41 acres
Tenants: Giant Tiger, Dollarama, Staples, Planet Fitness, Tim Hortons, PartSource