228 King Street, Sturgeon Falls
|Overall Size 10,935 SF||Acreage 0.70 acres|
Lennard Commercial Realty Ltd. (the “Advisors”) has been retained by C&H Properties Inc. (the “Vendor”) to offer for sale a 100% freehold interest in a retail property located at 228 King Street, Sturgeon Falls, Ontario (the “Property”).
The Property is professionally owned and is fully leased to RX Drug Mart, IDA and guaranteed by the Rexall/McKesson Canada Corporation covenant. 228 King Street was developed in 2008 for the use and occupancy of a single tenant retail pharmacy.
- 100% leased to RX Drug Mart, IDA (Rexall/McKesson Canada Covenant)
- 10,935 SF freestanding retail building
- Signalized intersection
- New format construction, built in 2008
- Triple net lease, care-free asset
- Free and clear of financing
McKesson Canada Corporation, a subsidiary of McKesson Corporation (NYSE: MCK) acquired Rexall Health for $2.9 Billion in December 2016. As part of the transaction McKesson acquired 470 retail pharmacies and agreed to divest 27 stores in 26 local markets as required by the Competition Bureau of Canada.
RX Drug Mart Inc. (RXDM) acquired 27 Rexall Pharmacies and now has a network of pharmacies across the country.