3500 Fallowfield Road, Ottawa, Ontario
Repositioning an existing retail property to improve income performance
After its anchor grocery store relocated, business at the 60,500 square foot property declined along with its income and value. The owner needed a strategy to re-position the asset, to reverse the impact of the anchor’s departure, to generate new income and create value that had been lost.
Our team implemented a multi-anchor approach, finding strong, smaller national and local tenants to backfill vacant space rather than hinging the fate of the property on a single, large tenant.
Adding the Beer Store, a medical clinic and other attractive local tenants, we leased 100 percent of the property. Income dramatically improved, creating liquidity and stabilizing the property. The owner is now positioned to sell the property and realize a capital gain.