Class A Single Tenant Office Space | 1870 Alta Vista Drive
1870 Alta Vista Drive, Ottawa, Ontario, Canada
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Colliers International (the “Advisor”) on behalf of CMA Joule Inc. (the “Vendor”) are pleased to offer for sale a 100% freehold interest in 1870 Alta Vista Drive, Ottawa, Ontario (the “Property”), a six-storey Class A office building fully occupied by MD Financial Management, a subsidiary of Bank of Nova Scotia). Completed in 2001, this high quality suburban office totals 112,000 SF and is strategically located in a specialized medical and health services node with proximity to CHEO and The Ottawa Hospital. The Property offers a mix of income security and upside potential with 4.7 years of contractual lease term remaining and a significant near term contractual rent escalation to increase NOI substantially. The offering provides an opportunity for an investor to acquire a well-located, high quality, fully leased office with significant growth potential in one of Ottawa’s strongest office leasing market.
The property sits on a large 5.93-acre parcel of land with a 0.43 Floor Space Index (FSI) and excess land of approximately 2.3 acres available on-site. Opportunity for further site development with IP12 zoning that is not governed by a maximum height or maximum FSI. Palatable value-add opportunity to further increase income and cash flow growth.