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Gordon Head's Tuscany Village Shopping Centre listed for sale

An aerial view of Tuscany Village Shopping Centre looking northwest. The 75,000 square foot retail hub along McKenzie Avenue at Shelbourne Street in Saanich has been listed for sale.  Google

Gordon Head's Tuscany Village Shopping Centre listed for sale
CITIFIED.CA STAFF

A 3.5-acre retail hub at McKenzie Avenue and Shelbourne Street home to Thrifty Foods, Rexall Drugstore, Monk Office, CIBC bank, and an 13 additional local and national retailers has been put up for sale.

 
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The 75,000 square foot Tuscany Village Shopping Centre, completed in 2007 east of the University Heights Shopping Centre in Saanich's Gordon Head neighbourhood, was the first commercial plaza to materialize in Saanich in generations.

The multi-building complex is also comprised of 91 condominium residences situated across three levels above retail floors, and includes a total of 345 parking stalls in both surface and underground lots.

In 2018 a small extension was completed with frontage at 3959 Shelbourne Street for a CIBC bank branch that relocated from University Heights Shopping Centre.

Tuscany Village's retail spaces are currently 97% leased.

A sale price has not been disclosed by the listing brokerage, CBRE.

Meanwhile University Heights Shopping Centre is in the throes of an expansion that could include the redevelopment of the property's southern portion into rental residences with modern storefronts below.

Owner Wesbild is in the initial planning stages for the project. C


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