Outstanding Investment Opportunity for a Class A Suburban Office Building

3795 Carey Road, Victoria

Office For Sale

For Sale
Land Area : 47,919.00 SF
Building Area : 39,074.00 SF

The Apex Building

Description

Colliers International Victoria is pleased to introduce to the market the opportunity to acquire a fully leased Class A suburban office building that has been extensively upgraded and which benefits from numerous on-site and location amenities.

The Apex Building is arguably the most high-profile office building in Greater Victoria. The Apex is prominently located in the Municipality of Saanich on the northern approach into Victoria near the confluence of Highway #17 (Pat Bay Highway), Highway #1 (TransCanada Highway), and Carey Road. The subject is also located directly across Highway #17 from the Saanich Municipal Hall, Police Headquarters and Fire Hall #1. Amenities in the immediate area include numerous retailers, restaurants, and service providers in Uptown, Saanich Plaza and Gateway Village. Uptown is Victoria’s largest shopping centre and includes tenants like Wal-Mart, Best Buy, Shoppers Drug Mart, and will soon be home to Victoria’s first Whole Foods.

Constructed in 1985, The Apex comprises ±35,914 square feet of rentable area over 6 floors, plus 2 levels of underground parking housing 141 stalls. There are also 28 surface parking stalls, for a total of 169 on-site stalls. In addition, there are storage areas and an auditorium which are leased to 3 office tenants bringing the total rented area to ±39,074 square feet. Gross building area is estimated to be ±49,719 square feet, including the two levels of underground parking.

The building is served by two elevators. It is heated and cooled by way of an electric hot water boiler, above-ceiling mounted heat pumps, and a rooftop cooling tower. HVAC is controlled by way of a DDC system. The vendor has expended in excess of $2 million in base building upgrades since taking ownership in 2007. In addition to the base building upgrades, over $2 million has been spent on Tenant Improvements, bringing the total to over $4 million.

Features

  • Fitness facility, squash court, secure bike storage, change rooms and showers
  • On-site storage facilities for tenants
  • BOMA Best Level 3 building certification in 2008
  • Unobstructed 360˚ panoramic views of Greater Victoria
  • Outdoor deck and patio areas
  • Short walk/ride to the Galloping Goose Regional Trail
  • Secure swipe-card security system
  • 169 underground and surface parking stalls (parking ratio is 4.7:1000 SF of rentable area)
  • Back-up generator
  • Fibre optics

Sale Areas

Area Size
1st Floor 5,500 SF
2nd Floor 8,070 SF
3rd Floor 6,936 SF
4th Floor 6,034 SF
5th Floor 5,496 SF
6th Floor 3,878 SF
Office Total 35,914 SF
Storage and Training 3,160 SF
Building Total 39,074 SF

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This information has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2017/18. All rights reserved.

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