- What Huntington Properties listed its retail plaza in Ottawa for $24.8m
- Why The developer is looking to sell the relatively new centre
- What next Avison Young is handling the listing
Huntington Properties is looking to offload a multi-building retail plaza in Ottawa for $24.8m.
The plaza, at 30-34 Highbury Park Drive in the Barrhaven neighbourhood, was completed in 2020. It comprises three detached buildings: a single-storey A&W, a single-storey multi-tenant retail building and a two-storey retail and office building.
Avison Young has the listing.
The buildings, which collectively span 42,000 sq ft, are fully occupied by 16 tenants, including a yoga studio, a dental clinic, a nail salon, a grocery store, restaurants and an Orangetheory Fitness. The weighted average lease term is 5.9 years.
The property spans 3.7 acres and also contains a parking lot with 183 spaces. It’s roughly 1 km south of the Longfields station on the Ottawa Transitway and is less than 4 km from Highway 416.
Huntington, an Ottawa-based developer, acquired the site in 2014 for $2.4m and received approval to build the retail plaza in 2017.
A few other retail plazas in Ottawa have changed hands over the last year in a similar price range. A strip mall at 420 Hazeldean Road was sold last August by ReDev Properties for $23.8m. In December, NCC picked up a strip centre at 47-57 Rideau Street for $21.8m.
