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Primecorp Brokers C$26.1M Prime Commercial Real Estate Deal in Hot West Ottawa Market

This spectacular deal, in the thriving Merivale Road hub, was spearheaded by our dynamic mother-daughter Team Oakley. Aaida Oakley, a successful commercial real estate broker for over 30 years, oversaw and completed the transaction, in seamless textbook style. Her daughter Johanna Oakley, one of our star sales representatives, offered critical assistance at key intervals in the process.

On May 2nd, 2016, Primecorp Commercial Realty Inc., acting as exclusive Advisor, announced the successful sale of Emerald Plaza (Ottawa Business Journal), situated in a prized retail and office area on Merivale Rd. near Meadowlands, just south of Baseline. This area is widely regarded as one of the most robust commercial hubs in the capital region.

Aerial View Of Emerald Plaza, Merivale Rd. Ottawa

 

Merivale Road is a Hot Commercial Real Estate Market in Ottawa West

Merivale Road is one of Ottawa’s busiest retail corridors and a major thoroughfare in Ottawa’s west end. Merivale is surrounded by residential developments and minutes away from Algonquin College, which has a student population base over over 60,000. As one of the busiest roads in Ottawa, with approximately 54,000 vehicles a day, Merivale attracts many of Canada’s top retailers and accommodates a large commercial base.

The Emerald Plaza Shines on Merivale Road

The Emerald Plaza consists of a 151,897 square foot mixed-use complex with a 56,823 square foot, five-storey office component and a 95,074 square foot retail strip mall. The plaza is well anchored by strong and longstanding tenants including: TD Canada Trust, Yang Ming Buffet, Pet Smart, & Alexanian Flooring Limited. Recently, retail giant Costco has been added to the roster as they leased 17,000 square feet for a call centre.

Emerald Plaza 1547 Merivale Rd. Ottawa

 

How this Commercial Real Estate Deal was Brokered Over The Holidays

This deal was initiated last Christmas when one of Aaida’s very best clients submitted an offer that had to be negotiated over the holidays. Amazingly, Aaida found herself negotiating the terms of the deal, while cooking Christmas dinner! She takes this aspect in stride, and as a testament to working closely with a terrific client:

I really can't complain though; the people involved in this deal were so prepared and organized, it was a pleasure to work with them. This deal came together seamlessly and efficiently in four months, how many brokers can say they've done that in the middle of a holiday meal?"

Both the Buyer and Seller in this transaction are private companies with strong reputations for dependability and quality and a long and successful history of managing a diverse portfolio of properties. Working with great people, and building strong relationships with our clients is a very important aspect of brokering successful commercial real estate transactions such as this; for which, our entire team can feel proud, as we continue to grow and diversify, while staying true to our old fashioned business values.

Solid Real Estate Deals are Fueled by Solid Relationships

Although this prolific deal is appreciated by everyone in our company, and the parties involved, it is not really a surprise coming from Team Oakley. Aaida and Johanna have a very strong track record of brokering many high-profile commercial real estate deals over the long-haul, and we see the family connection as a real plus that we embrace:

Primecorp is not a family business per say, but we do seem to have proven old school values, good quality people… and family on our side. Primecorp Newsroom

Sam Firestone, COO, Founding and Managing Partner at Primecorp Commercial Realty Inc., effectively summed up the feelings around the office this week, regarding the Emerald Plaza deal:

Primecorp continues to prove it is one of the most dynamic and successful full-service independent commercial brokers in the Country, having completed transactions in excess of C$6 billion in over 55 Canadian cities since its inception. We are proud of Aaida in completing this important transaction.

Since our founding, nearly 20 years ago, by Principals Aik Aliferis, Sam Firestone, Steve Lerner, and Nicolas Pantieras, Primecorp has become one of the top commercial real estate investment brokerage, management, and advisory firms in Ottawa. We also have offices in Toronto, Gatineau and Montreal and are now branching out internationally, with our recent membership in TCN worldwide, a leading international consortium of independent commercial real estate firms, with reach around the globe.

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