Shaughnessy Station is located in the city of Port Coquitlam which is 30 kilometres east of Vancouver. Port Coquitlam has a strong middle income residential base, home to 47,000 residents. It also has a thriving industrial base. Shaughnessy Station is ideally located in the heart of Port Coquitlam, at the busy intersectionsof Lougheed Highway and Shaughnessy Street. The center comprises 120,000 square feet, and was previously anchored by Canadian Tire, Bank of Nova Scotia and is shadow anchored by Safeway Foods. The property was purchased for $21 million in 2002. At the time of the acquisition, the investment offered a good yield as the BC marketplace and economy was weak. However, TerraCap anticipated a growing and stronger market and was seeking to geographically diversify its portfolio. Although the centre was fully leased, it had some weak restaurant pad tenants. Soon after the acquisition, one of the restaurant pad operators failed. TerraCap replaced the tenant with Bank of Nova Scotia with a drive through. In addition the second restaurant operator - Earl’s Palace was performing poorly and was considering not renewing their lease at the end of its term. TerraCap negotiated a new lease deal that included renovating their restaurant. Earl’s is now doing very well and the Centre is almost fully leased with solid tenancies. With the departure of Canadian Tire in 2012, Shaughnessy is being re-positioned in the marketplace into a neighbourhood center with addition of a drugstore, fitness center and related community service amenities.
|Shaughnessy Veterinary Hospital Ltd|
|DC Computer Hospital Ltd.|
|Sushi K Kamizato|
|Great Clips Shaughnessy Station|
|PoCo Dental Group|
|H & R Block|
|Burke Mountain Denture Clinic|
|Target Professionals Hospitality Recruiting|
|Best Nail Studio|
|Peerel Driving School|
|Made In The Shade Tanning Salons|
Central Port Coquitlam
Median rate is a number derived from the median rate of listings posted on 42floors and reports from thought leaders in the area.