Retail investment Opportunity Shadow Anchored by Grocery
23,247 Sqft - 1411 Henderson Highway, Winnipeg, Manitoba
Cushman & Wakefield | Stevenson (“Cushman”) is pleased to offer for sale, The Boardwalk Shopping Centre, 1411 – 1423 Henderson Highway in Winnipeg, Manitoba (the “Property”) on behalf of Imperial Oil Limited (“Imperial”). The Property is a 23,247 sf. retail strip centre anchored by Dollarama and shadow anchored by a +/- 50,000 sf next generation Safeway which was redeveloped on the River East Plaza site in 2011. It is one of Safeway’s top grossing stores in Manitoba. The Property is well-positioned for continual stability as a result of its central location on the North-Henderson retail corridor that begins at the Northdale Shopping Centre 2 minutes south and the newly reinvigorated McIvor Mall 2 minutes to the north. The offering represents an exceptional opportunity to acquire a stable income-producing investment that offers income growth in the medium term.
The Property is located in the heart of the low-vacancy North-Henderson Highway retail node comprised of 500,000+ square feet of grocery anchored shopping centres and the every day retail service providers making this stretch of retail one the most dominant nodes in North Kildonan and the RM of East St. Paul.
STABLE INCOME PRODUCING ASSET
The Property is shadow anchored by one of the highest grossing Safeways in Manitoba (+/-50,000 sf.) situated at the neighboring River East Plaza (+/-78,000 sf.). The 6,300 sf. Boston Pizza restaurant is also one of the chains strongest performers in Manitoba. An estimated customer count of 3,500+ visit River East Plaza daily. As a result, Boardwalk Shopping Centre has maintained a stable tenant roster for years.
VALUE ADD OPPORTUNITY
Current net face rates skew to just below market on average, with near and medium term expiries. One current vacancy offers an opportunity for an owner/occupied investment.
1411 Henderson Highway
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