INDUSTRIAL DEVELOPERS AND INVESTORS - 2229 & 2233 6th Avenue

INDUSTRIAL DEVELOPERS AND INVESTORS Outstanding industrial investment opportunity includes two side-by-side industrial properties totaling approximately 0.6334 acres in Castlegar, BC. National tenant with a recently signed lease occupies the 7,529 SF industrial building with3 grade level loading bays and 109% tenant-occupies both properties. Current CAP rate is approx. 8.4% (at ask) but will increase every yearwith the negotiated escalation in rates through the term of the lease. M1 – Light Industrial zoning provides potential for further densification ofthe properties through redevelopment for almost 50,000 SF at max FAR and building heights up to 3 stories. The current lease will providesubstantial cash flow and holding income until the properties are ready to be further redeveloped.