BOUNDARY BAY BUSINESS PARK PHASE ONE VANCOUVER INDUSTRIAL MARKET - PowerPoint PPT Presentation

INDUSTRIAL INVESTMENT OPPORTUNITY BOUNDARY BAY BUSINESS PARK PHASE ONE

VANCOUVER INDUSTRIAL MARKET Summary Q4 2015 Q4 2016 Trend Statistics Vacancy Rate 2.5% 1.9% ▼ YTD Net Absorption 1,114,368 S.F. 1,143,399 S.F. ▲ YTD New Supply 608,669 S.F. 974,193 S.F. ▲ Under Construction 1,183,696 S.F. 1,307,777 S.F. ▲ Weighted Avg ▲ Asking Net Rent $7.86 $8.62 PSF Cap Rate (Class A) 5.15% 4.65% ▼ Cap Rate (Class B) 5.75% 5.50% ▼ 4

8151 CHURCHILL STREET, DELTA INVESTMENT HIGHLIGHTS 2017 N.O.I. $3,849,737 Avg. Net Rent PSF $8.75 Approx. Site Size 23.49 Acres Average Remaining Lease 5 Years 6 Months Term Proposed Sale Price/Cap $97,500,000/ Rate 3.95% Price PSF $221 Building Size 439,970 SqFt Year Built 2014 Site Coverage 43% (Approx.) Clear Height 36’ 74 Dock Loading Doors 4 Grade On-Site Trailer Parking Stalls 100 Stalls 5

THE OPPORTUNITY • To acquire a new generation, best in class Tier 1 distribution center in an AAA location • Diverse national tenant mix with an average of 5.5 years lease term remaining • Rents are arguably below market, with regional vacancy rate under 1.00% • Strategic location with close proximity to the South Fraser Perimeter Road and Deltaport • Scalable asset unlike any other opportunity currently being marketed 6

OFFICE INVESTMENT OPPORTUNITY DOWNTOWN DISTRICT

THE LOCATION 2

SURROUNDING CITY BLOCK 3

PROPERTY DETAILS 4

LEASING AND INCOME ASSUMPTIONS 5

DOWNTOWN OFFICE INVESTMENT ACTIVITY 6

MULTI-RES INVESTMENT OPPORTUNITY TOWER ON THE PARK, KERRISDALE

TOWER ON THE PARK, VANCOUVER West 41st West 43rd Park Tower – 40 IRR St, Vancouver, BC Dimensions 462ft X 126 ft Site Size 58,212 sf (1.33 acres) Residential Units 83 (15 X Bch, 55 X 1-Bdrm, 13 X 2-Bdrm) - 18 renovated, 65 vacant and not renovated Rentable Area 50,877 sf Potential Additional 90,000 sf (2.5 FSR) Density 2

OPPORTUNITY + 90,000 sf of unrealized density on additional land Continue Renovations Bach: $1,450, 1-BR: $1,850, Achievable Renovated Rents 2-BR: $2,300 $25,000/unit => $1,625,000 Renovation Costs remaining costs to renovate 18 renovated and leased Existing Renovated Units 65 vacant and awaiting Residential Units renovation Current Net Operating $132,473 (only 18/83 units Income rented) Potential Net Operating Income after Renovation $1,444,340 and Lease Up 3

MARKET STATS 1441 St Georges, North Van $37.5M, 2145 Bellevue, West Van $28.3M, 1.4% , 1770 Davie, Vancouver 2.56% , $354K/unit $765K/unit $40M, 1.85% , $522K/unit Kerrisdale Residential Land Comps Kerrisdale Rental Address Price Per Buildable SF Vacancy Rate 6344-6386 E Blvd $486 pbsf (Oct 2016) 2015: 1.4% 5344 E Blvd $501 pbsf (Aug 2016) 2016: 0.8% 2068-2082 W 41 st $550 pbsf (June 2016) 4

INVESTMENT HIGHLIGHTS 90,000 sf of undeveloped density – no Scale – 83 Res. Units on a 1.33 acre lot rezoning required Extremely well maintained and Successful renovation program in place professionally managed Extensive upgrades completed ($1M) Building is up to code incl roof, plumbing, elevators & balconies Tenant mix – majority of new Desirable Kerrisdale location (95 Walk tenants are students Score, 2016 HH Income of $200K ) 5