Property attractively located across the street from InterCity Mall, Thunder Bay’s primary regional shopping node with traffic of approximately 22,000 vehicles per day.

Multi-tenant asset purchased with existing income and value-add opportunities. Site was previously provisioned with infrastructure for additional buildings.
Existing tenants included The Beer Store and a dental clinic with pending tenant lease to One Plant.

TriVirtus built additional buildings in two phases for an additional 12,000 sq. ft. of retail space adding Burger King, Stacked Pancakes, Firehouse Subs, Osmow’s, and others.

The development is complete.

Project statistics

Acquisition/construction

Q2 2019

Tenant

Muti

Land area

3.03 acres

Leasable area

26,689 f2

Project return

12%+

Acquired “off-market” with in-place income and anchor tenant

Construction of an additional 12,000f2. completed and handed over to tenants in Q4 ’24

Achieved 100% lease up prior to each phase of construction attracting Tier 1 bank financing

Net levered return upon completion higher than projections at 15%+