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Van Leeuwen Centre, Kanata, ON
418-420 Hazeldean Road
K2L 4B2 Kanata
JLL’s National Retail Investment Group is pleased to offer for sale a 100% freehold interest in Van Leeuwen Centre (the “Property” or “Centre”), a pharmacy-anchored plaza situated on 4.43 acres in Kanata, Ontario. Comprised of 63,159 SF, the Property is fully leased and anchored by Shoppers Drug Mart which has been a longstanding tenant at the site since 1988, with term until 2032 and options to extend thereafter. Other notable tenants at the site include the BMO (pad with drive-thru), Alexanian Carpet and Flooring, Plato’s Closet, Pizza Pizza, and Buster’s Bar & Grill. The Property offers the investor secure future cash flow with a weighted average lease term of 6.79 years.
The Property is situated adjacent to Hazeldean Mall, a 222,000 SF enclosed shopping centre which draw consumers from across the city and region. The Property benefits from premium frontage and visibility along Hazeldean Road, Kanata’s primary east/west arterial thoroughfare which provides direct connection to Ottawa to the east and Highway 7 (Trans-Canada Highway) to the west. Van Leeuwen Centre is in close proximity to growing residential neighbourhoods with over 50,600 residents living within a 3 km radius, providing the Property with a large market catchment in the immediate area.
- Kanata is a major suburb of Ottawa, located approximately 22 km west of the city’s downtown core along Highway 417.
- The Property is situated on a large 4.43 acre lot where it benefits from premium access and visibility along Hazeldean Road, Kanata’s primary east/west arterial thoroughfare which is home to an abundance of national retailers, including the adjacent Hazeldean Mall.
- The Property is fully leased to a diverse roster of needs-based and service-oriented tenants drawing consumers to the plaza for a variety of reasons.
- Anchored by a strong performing Shoppers Drug Mart, a proven ‘AAA’ covenant, which has been a longstanding tenant at the site since 1988 with more than nine years remaining.
- The Property is well-designed with multiple access points and ample parking.