Sylvan Lake retail centre sold for $3.2 million

Two-year-old complex has quality tenants and is located by the water on Lakeshore Drive

By
for Western Investor
October 9, 2019





DD Sylvan Lake retail centre mall

A two-year old retail centre across from the water in Sylvan Lake, Alberta, has sold for $3.2 million, reports Avison Young's Edmonton office. Tenants include Freshii, Good Earth Coffee and Undercurrent Brewery.

Breakdown:

Property type: Retail centre

Location: 5003 Lakeshore Drive

City: Sylvan Lake, Alberta

Building size: 9,351 square feet

Land size: 0.58 acres

Sale price: $3,200,000

Capitalization rate: 6.25%

Date of sale: September 19, 2019

Brokerage: Avison Young, Edmonton

Brokers: Reed Newnham, James Robertson


Reed is an associate with Avison Young who specializes in the investment division.

Avison Young Edmonton
10104 – 103 Ave. NW
Edmonton, AB T5J 0H8
Office: 780-429-7573

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