Royal City Centre

New Westminster

347,531 Square Foot Shopping Centre with Office

Value-Add Program Completed:

  • Improved functionality and quality of the property through capital improvements including new roof sections and new exterior elevator;
  • Completed cosmetic upgrades throughout common areas;
  • Leased vacant Zellers space to Walmart in a 111,500 square foot transaction;
  • Leased vacant 2nd floor office space to the Fraser Health Authority for Dialysis Clinic and medical offices totalling 38,000 square feet;
  • Leased additional office space to independent health-care related uses including X-Ray and Walk-in Medical Clinic;
  • Actively managed tenants through lease terminations, renewals, relocations, re-merchandised the main floor retail tenant mix;
  • Converted multiple lease types into one standard, institutional quality form of net lease;
  • Purchased July 2010 for $52,000,000;
  • Sold January 2016 for $114,700,000;
  • JV Partner: Strathallen.