A freestanding Shoppers Drug Mart with Medical Offices in St. Thomas, Ontario. The asset totals 22,021 SF while being 95.7% leased with an attractive weighted average lease term of 9.6 years.
The Shoppers Drug Mart Lease runs until 2030, offering an investor very long-term income security.
The Property has frontage on First Ave. - St. Thomas’ central North-South roadway and a primary retail corridor. It benefits from its excellent location across the road from and slightly north of St. Thomas SmartCentres, Real Canadian Superstore and Canadian Tire.
Address: 107 Edward Street, St. Thomas, Ontario
Intersection: Edward Street and First Avenue
GLA: 22,021 SF
Parking: 102 parking stalls (4.63 per 1,000 SF)
Tenants: Shoppers Drug Mart, Medical Offices
Shoppers Drug Mart Remaining Term: 10.6 years
WALT: 9.6 Years
Well-Designed, Attractive Development: The asset consists of one freestanding pad of quality design and construction. The combination of superior asset quality, excellent long term tenancy, and strategic location presents an appealing opportunity for investors. The site has ample parking along with two access points; one on Edward St and another on First Ave, making the site easily accessible. Shoppers Drug Mart Fronts on First Ave which is one of St. Thomas’ primary traffic corridors.Nationally
Tenanted Asset with Long Term Lease: Shoppers Drug Mart occupies over 75% of the property’s GLA, is a ‘AAA’ tenant and is considered to be a best-in-class covenant. Shoppers Drug Mart’s lease term currently runs to July 31st, 2030 with four options to extend, each for further periods of 5 years.
Close Proximity to SmartCentres with an Abundance of National Retailers: The site capitalizes from being in close proximity (across the street and slightly north) to St. Thomas SmartCentres, Real Canadian Superstore and Canadian Tire. St. Thomas SmartCentres national retailers include: Walmart, Staples, Dollar Tree, Mark’s, The Dominion Bank and Wendy’s.