EDMONTON, Alberta, May 15, 2019 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the opportunity to participate in a joint venture partnership to develop a mixed-use residential site at11215 - 11525 104 Ave. NW in Edmonton, Alberta.The price is open bid.
“The Longstreet Redevelopment Opportunity site has immediate proximity to existing and future transit options, retail, post-secondary institutions, and Edmonton’s downtown core,” said Bradley Gingerich, IPA senior managing director. “The maximum floor area ratio is 5.0.” Gingerich, Paul Chaput, senior vice president, Bradyn Arth, senior vice president, and Jane Woertman, are representing the vendor, First Capital Realty Inc.
The property is approximately 35,250-square-foot and located on the southwest corner of 112th Street and 104th Avenue in Edmonton’s Oliver neighborhood, one of the city’s most well-established residential areas. The future path of the Valley Line LRT is along 104th Avenue, a staple arterial roadway that has an abundance of vehicle and foot traffic. Edmonton’s financial, government and ICE districts are within walking distance. Nearby retail and services include Safeway, Loblaws City Market, Best Buy, Winners, MEC, GoodLife Fitness, Shoppers Drug Mart, Brewsters Brewing Company & Restaurant, Starbucks and banks.
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About Institutional Property Advisors (IPA)
With a network of senior-level investment advisors located throughout the United States and Canada, Institutional Property Advisors (IPA) is qualified to meet the needs of institutional and major private investors. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, superior support services and acclaimed research offer customized solutions for the acquisition and disposition of institutional properties and portfolios. www.institutionalpropertyadvisors.com.