SearchBurlington Power Centre North

Burlington Power Centre North

1250 Brant St, Burlington, Ontario L7P 1X8

Building Description

Purchased in 2004, the property is located at 1220 & 1250 Brant Street in Burlington, Ontario. The shopping centre consists of 297,000 square feet, anchored by Sobeys, Indigo, Cineplex, La-Z-Boy Furniture, Michaels and Marshalls.

Burlington has a population of 160,000 residents and has excellent transportation links to Toronto including rail links, Highway 401 and Go Transit. Its economic base is diverse including food processing, packaging, transportation, electronics, auto parts manufacturing and business services.

Terracap was able to structure a deal on a tax effective basis that was attractive to the vendor. The vendor was faced with a low tax cost base and high recapture upon disposition. Terracap structured the purchase through a third party that absorbed the recapture and sold Terracap the assets at the higher tax cost base. This allowed the Company to acquire this significant and much sought after Class A property at a reasonable purchase price in a very hot commercial real estate market.

The shopping centre has proven to be an excellent investment. The centre is virtually 100% leased with moderate rent step-ups year over year. Offers were received on the center, which precipitated a sale to an internal investor pool, resulting in a significant gain for investors who opted to capitalize on the opportunity to exit.

General

Building Zoned Commercial

Tenant Cost

Retail Profile

Number of Floor(s) 1

Parking

Operating Hours

Anchor Tenants

Demographics

Primary Trade Area

Population 200,000

Secondary Trade Area

Customer Profile

Demographic Source Burlington (Canada 2011 Census population 175,779), is a city located in Halton Region at the western end of Lake Ontario. Burlington is part of the Greater Toronto Area, and is also included in the Hamilton Census Metropolitan Area. Physically, Burlington lies between the north shore of Lake Ontario and the Niagara Escarpment. Economically, Burlington is strategically located near the geographic centre of the Golden Horseshoe, a densely populated and industrialized region home to over 8 million people. Some of the city‘s attractions include Canada‘s Largest Ribfest, Sound of Music Festival, Art Gallery of Burlington, and Spencer Smith Park, all located near the city’s municipal offices in the downtown core. Additionally, the city attracts hikers, birders and nature lovers due to the Royal Botanical Gardens located on the border with Hamilton, as well as its proximity to a part of the Niagara Escarpment in the north end of the city that includes the Iroquoian section of the Bruce Trail. As recorded in the same census, 91.04% of the population was white. Other groups include South Asian: 3.1%, mixed race: 1.5%, black: 1.5%, and Chinese: 1.3%.[10] The top eight ethnic origins from the 2006 census are listed in the accompanying table. Percentages add up to more than 100% because respondents were able to choose more than one ethnicity. Language According to the 2011 Census,[11] English is the mother tongue for 80.7% of the residents of Burlington, followed by French (1.8%), Polish (1.3%), Spanish (1.2%), German (1.1%) and Italian (1.1%). However, Statistics Canada warned that “data users are advised to exercise caution when evaluating trends related to mother tongue and home language that compare 2011 census data to those of previous censuses,” due to the discontinuation of the mandatory long census form by the federal government. Recreation and Sites of interest[edit] There are 115 parks and 580 ha of parkland within the city. Brant Street Pier On the shore of Lake Ontario, Spencer Smith Park features an expansive shoreline walking path. The park is newly renovated, with an observatory, outdoor pond, water jet play area and restaurant. Many annual free festivals take place in Spencer Smith Park, including Canada's Largest Ribfest and the Sound of Music Festival, Canada Day, Children's Festival and Lakeside Festival of Lights. There is also the semi-annual prix fixe Taste of Burlington dining event. The Brant Street Pier officially opened in Spencer Smith Park during the Sound of Music Festival on Father’s Day weekend, 2013.[21] Thousands of people from Burlington and beyond flocked to the pier to enjoy sunshine and scenic views. The pier extends 137 metres over Lake Ontario and provides views of the lake and Burlington’s shoreline. The Art Gallery of Burlington is located adjacent to Spencer Smith Park, and contains diverse permanent and changing exhibits. The Gallery houses a prominent collection of Canadian ceramics. The Gallery’s exhibition spaces, which feature new exhibitions every eight to ten weeks, are fully accessible and are free of charge to visitors.[22] "Royal Canadian Naval Association Naval Memorial"(1995) by André Gauthier, Spencer Smith Park "Royal Canadian Naval Association Naval Memorial (1995)" by André Gauthier (sculptor) is a 6’4” high cast bronze statue of a WWII Canadian sailor in the position of attention saluting his lost shipmates, which was erected in Spencer Smith Park. The model for the statue was a local Sea Cadet wearing Mike Vencel's naval service uniform. On the black granite base, the names of Royal Canadian Navy and Canadian Merchant Marine ships sunk during WWII are engraved. On the granite wall, the names of all Royal Canadian Navy ships and Canadian Merchant Marine vessels which saw service in WWII are engraved. A monument commemorating the Korean War was erected in the summer of 2014 to mark the 61st anniversary of the armistice to end the war. Burlington is home to the Royal Botanical Gardens, which has the world’s largest lilac collection. Ontario's botanical garden and National Historic Site of Canada features over 2,700 acres (11 km2) of gardens and nature sanctuaries, including four outdoor display gardens, the Mediterranean Garden under glass, three on-site restaurants, the Gardens' Gift Shop, and festivals. Lasalle Park, located in the Burlington neighbourhood of Aldershot, is owned by the city of Hamilton but is leased by Burlington, which also assumes responsibility for maintenance. Several conservation areas are minutes away and feature year round activities. Mount Nemo Conservation Area is the only area in Burlington that is operated by Conservation Halton. Bronte Creek Provincial Park is located along the eastern boundary of the city and features a campground and recreational activities and events year-round. The local sections of the Bruce Trail and the Niagara Escarpment, which is a UNESCO designated World Biosphere Reserve, provide excellent hiking opportunities. Kerncliff Park, in an abandoned quarry on the boundary with Waterdown, is a naturalized area on the lip of the Niagara Escarpment. The Bruce Trail runs through the park, at many points running along the edge of the cliffs, providing a clear overlook of Burlington, the Burlington Skyway Bridge, Hamilton, and Oakville. On a clear day, one can see the CN Tower in Toronto, approximately 50 kilometres (31 mi) from the park. The Joseph Brant Museum and Ireland House are also popular attractions. Joseph Brant Museum has ongoing exhibits on the history of Burlington, the Eileen Collard Costume Collection, Captain Joseph Brant and the visible storage gallery. Ireland House at Oakridge Farm is a history museum depicting family life from the 1850s to the 1920s. Burlington offers four indoor and two outdoor pools, four splash pads, nine ice pads, four community centres and nine golf courses. The Appleby Ice Centre is a 4-pad arena, used year-round for skating and ice hockey.[26] The Burlington Performing Arts Centre opened in 2011. This 940-seat facility is located on Locust Street in the downtown core. It contains two theaters for theatrical and musical performances.

Downloads

Dan ForsythVice President, LeasingTerracap Management Inc.

416-222-9345 Ext. 7084

dforsyth@terracap.ca

Theresa HoangCoordinator, Leasing & MarketingTerracap Management Inc.

416-222-9345 Ext 5555

thoang@terracap.ca