PROPERTYDetails

CDNGLOBAL is pleased to announce the exclusive industrial investment sale offering of 8615 48th Street SE, Calgary, Alberta (the "Subject Property"). Once a multi-bay industrial asset, the 45,630 SF ( +/-) freestanding industrial building is now 100% occupied by the Proform Group of Companies, Alberta's largest pre-cast concrete manufacturer. Proform’s significant revenue, gross profit and EBITDA metrics are further bolstered through its significant client base including Brookfield, Mattamy Homes, and other familiar real estate developers, as well as involvement in government infrastructure projects. The asset is exceptionally well located near 52nd Street SE and Glenmore Trail, in a strong primary industrial market with exceptionally low industrial vacancy rates. Over $1,000,000 in recent renovations and improvements has taken place, including a 15-ton crane, six 10-ton cranes and a brand new 3,200 SF office development. With low site coverage of only 22%, the asset features surplus land and ample fenced yard area. The asset features below market and replaceable lease rates, with going in NOI of $620,000 NOI / 6.67% capitalization rate escalating to 6.93% capitalization rate on the $9,000,000 offering price. Existing in place financing can potentially be assumed depending on the purchaser’s covenant, or alternatively, clear title can be provided.