FOR SALE JON BUCKLEY* 604 630 0215 jbuckley@form.ca CURTIS LEONHARDT* 604 638 1999 cleonhardt @form.ca JOE GENEST 604 398 4341 jgenest@form.ca *Personal Real Estate Corporation
FOR SALE PROPERTY HIGHLIGHTS Single tenant strata investment opportunity secured with a long-term 30 year lease to Whistler Mountain Resort Limited Partnership ( WMRLP ), operating as Showcase Snowboards Whistler Blackcomb Holdings Inc. owns a 75% interest in each of WMRLP and Blackcomb Skiing Enterprises Limited Partnership, which, together carry on the company s four season mountain resort business Whistler Blackcomb Holdings Inc. trades publicly on the Toronto Stock Exchange, with a current market cap of $1.07B (May, 2016) Established in 1989, Showcase is the oldest snowboard shop, and one of the most recognizable brands in Whistler Secure income stream with ongoing rental escalations every five (5) years until March 2031; Subsequent renewal options are based on the previous term s rent, plus CPI Comprised of two strata lots, the 3,474 square feet (+/-) of leasable area is located on the ground floor of the Sundial Boutique Hotel, in the heart of the renowned Whistler Village stroll With more than 8,000 acres over Whistler and Blackcomb mountains, Whistler is the largest ski resort in North America and a world-renowned year-round resort e an el mb co ck Bla lag Vil y Wa SUBJECT UNIT t en c res C ial nd Su is Wh Blackcomb Excalibur Gondola ay rw tle Whistler Gondola
MUNICIPAL ADDRESS 4340 Sundial Crescent (Strata Lots 3 & 4), Whistler BC LEGAL DESCRIPTION Strata Lots 3 & 4 Plan VAS1570 District Lot 1902 Land District 1 Land District 36 & DL 3020, Together With An Interest In The Common Property In Proportion To The Unit Entitlement Of The Strata Lot As Shown On Form 1 Or V, As Appropriate PID: 002-497-387; 002-497-409 ZONING CC1 - Tourist-oriented commercial focus for the Municipality. The permitted uses include retail, restaurants, office, hotel, recreational facility including health club or spa, child care facility, and theatre. LEASABLE AREA 3,474 Square Feet LEASE TERM 30 years commencing March 29, 2001 NOI/BASIC RENT 2016 to 2021: $305,712 / annum 2021 to 2026: $330,030 / annum 2026 to 2031: $330,030 multiplied by 5 year CPI Ratio MANAGEMENT FEE 4% of Basic Rent RENEWAL OPTIONS Two (2) Five (5) year options at previous 5 year s rent multiplied by CPI Ratio over the same period AGE OF IMPROVEMENTS Constructed in 1986 TENANT Whistler Mountain Resort Limited Partnership o/a Showcase Snowboards ASKING PRICE $7,950,000 FINANCING Assume Clear Title
Whistler is a Canadian resort town in the southern Pacific Range of the Coast mountains in British Columbia. It is located approximately 122 km north of Vancouver in one of the most picturesque geographical regions in the world. Home to over 11,000 (2015) permanent residents, and projections to grow by 9.4% by 2020, Whistler is one of the most desirable places to live and allows residents to experience a combined lifestyle of work and recreation. The average per day population is 28,280 and peaks during the height of ski season at 45,000. Rated as one of the world s top year round destination resorts, Whistler experiences 2.1 million visitors annually, with this number expected to increase to 2.5 million by 2025. Whistler Blackcomb s $345-Million Renaissance Plan is a very exciting growth initiative that will increase year-round visitation to Whistler, insulate the resort from variable weather conditions, and strengthen Whistler s position as one of the premier mountain resort destinations in the world The Village is the heart of the Whistler resort, located at the base of both Whistler and Blackcomb Mountains. It is divided into several areas - the Village, Village North and Upper Village. All the areas are connected by the paved, pedestrian-only Village Stroll. There are an abundance of restaurants (some with patios), shops and galleries, and season dependent free open air concerts, street entertainment and markets. & BLACKCOMB SKI RESORT Whistler and Blackcomb are the two iconic mountains which together create the Whistler Blackcomb Ski Resort. It is a top destination for winter and summer activities, with both mountains open all year-round. Whistler is home to popular attractions including skiing/ snowboarding, hiking, ziplining, treetop adventures, golfing, and the world-famous Whistler Bike Park, Peak 2 Peak Gondola and Whistler s Olympic Sliding Centre. FUTURE DEVELOPMENT Whistler Blackcomb has announced a 3-phase, $345 million master plan that will see the resort build on its year-round recreational offerings: Phase 1: Renaisaance Project, $100 million investment in new mountain adventure experiences including a 163,000 square foot indoor adventure centre, a new high speed lift, and major improvements to Whistler Blackcomb s existing offerings Phase 2: New Day Lodge and Snow School Facility, estimated cost $115 million Phase 3: $150 million major revitalization of Blackcomb s base area in the Upper Village which will include upgraded day lodge and skiers plaza, new snow school facility, and luxury real estate developments including 60 townhomes
SALE FORFOR SALE way High SUBJECT SITE Highw ay 99 1 VANCOUVER Fly Time (Harbour Air): 45 Mins Drive Time: 1 Hr 40 Mins Train (Whistler Mountaineer): 3 Hrs 50 Mins 2016 ESTIMATES & PROJECTIONS 1 KM 3 KM 5 KM Population 1,364 4,693 8,944 10,184 Households 482 1,825 3,644 4,223 $110,913 $110,227 $108,634 $107,317 Average Household Income US BORDER US BORDER 1280-333 SEYMOUR STREET VANCOUVER, BC V6B 5A6 T 604 638 2121 F 604 638 2122 FORM.CA The information contained herein was obtained from sources which we deem reliable and while thought to be correct, are not guaranteed by Form Retail Advisors inc.