Avison Young

The subject site area is 1.36 acres and the total net rentable area is 94,540 sq. ft. The property is a mixed-use commercial heritage building with courtyard and street level retail and office uses on the second and third floors. It is comprised of 12 contiguous parcels of land constructed with nine buildings that have been connected to form Market Square. The improvements were originally constructed from 1894 to 1912. Subsequent to their assembly in 1974, they were joined by means of hallways and external and internal walkways overlooking a large courtyard constructed in the interior portion of the property. Over the years several upgrades and renovations have been completed on the interior and exterior of the building. Pedestrian access to the building is obtained from all three adjacent streets and there is an in/out curb cut along Pandora Avenue for access to the 19-stall pay parking lot located at the northeast corner of the site. Additional parking is provided by metered street parking and nearby parking lots and parkades.

The property is prominently situated on the southeast corner of Derwent Way and Derwent Place within the Annacis Island Business Park in the Corporation of Delta, British Columbia.

Derwent Way is Annacis Island’s primary thoroughfare and provides convenient access to Highway 91, a major east-west artery leading to New Westminster and Burnaby via the Queensborough Bridge, and connects to the Fraser Valley via Pattullo and Alex Fraser Bridges.

Within proximity to the property is access to Highway 99, which connects to such key destinations as the City of Vancouver (24 km), Vancouver International Airport (22 km), Boundary Bay airport (20 km), Tsawwassen Ferry Terminal (34 km) and the U.S. border (30 km).

33923 George Ferguson Way is located in Abbotsford, BC. Abbotsford is one of the fastest growing cities in British Columbia. The current population for the area is 131,827 people with a growth rate of 1.4% (www.bcstats.gov.bc.ca-2007). The property is located along bus route 4 in Abbotsford and is within a few blocks of other major bus routes, which access all areas of Abbotsford.

Abbotsford’s multi-family market provides a low risk investment environment, with vacancy rates at 2.1% (CMHC October 2007), attracting many investors to the area. The building has strong up-side to increase the operating income as rents are well below CMHC’s Abbotsford market averages per unit type.