Shaughnessy Station

Located at a busy intersection within walking distance of downtown Port Coquitlam, Shaughnessy Station is a vibrant retail and office complex situated 30 kilometers east of Vancouver. This prime location serves as a central hub for the community, offering convenience and accessibility to the area’s strong middle-income residential population of 58,612 residents, as well as its thriving industrial base. Spanning 115,000 square feet, the shopping centre is shadow-anchored by Safeway Foods and is home to a diverse mix of tenants, including Shoppers Drug Mart, McDonald’s, Earls Restaurant, and Scotiabank. These well-known brands have established Shaughnessy Station as a key destination for shopping, dining, and essential services in the region. When Terracap acquired the property in 2002, the BC marketplace and economy were in a period of weakness, offering a unique opportunity to secure the asset at an attractive yield. Recognizing the long-term potential of the site in a growing suburban market, Terracap added Shaughnessy Station to its geographically diverse portfolio. Over the years, strategic investments and proactive management have transformed the centre into a highly successful and stable asset. In 2012, Terracap undertook a series of renovations to modernize the property and enhance its appeal to tenants and shoppers. These upgrades included improvements to the retail spaces and common areas, ensuring the centre remained competitive in the evolving market. By 2021, the property underwent further phased upgrades, including significant façade enhancements and exterior building envelope work, which revitalized its appearance and reinforced its position as a modern and attractive commercial destination. Currently, Shaughnessy Station is leased at 92.5%, boasting a robust mix of tenants that cater to a wide range of needs within the community. The property offers an impressive selection of services, including banking, medical and dental care, grocery and pharmacy options, restaurants, pet services, fitness, beauty, and computer services. Anchor tenants such as Shoppers Drug Mart, Summit Tools, Scotiabank, and Earls Restaurant provide stability and consistent foot traffic, while smaller specialty retailers and service providers add variety and convenience for visitors. With its strategic location, diverse tenant mix, and ongoing investments in infrastructure and appearance, Shaughnessy Station has solidified its reputation as a cornerstone of the Port Coquitlam community. The centre not only meets the everyday needs of residents but also attracts visitors from surrounding areas, contributing to the economic vibrancy of the region. Terracap’s ability to anticipate market trends and enhance the value of this property underscores its commitment to creating long-term success for both investors and the communities it serves. Terragreen Terracap is embarking on a program to ensure that all our properties implement initiatives that adhere to principles of environmental sustainability where practical and these initiatives are representative of ongoing efforts to implement a comprehensive program. The Shaughnessy Station recently completed an exterior lighting retrofit from MH to LED lighting and interior lighting retrofit; changing all T12 to T8 for the interior offices & lobbies. Photo sensors and timers are used to achieve additional energy savings. A landscape upgrade to drought resistant plants has also been completed. Tenants are provided totes to recycle mixed paper, bottles, and cans. An additional recycle container is on the property for residents to dispose of their aluminum, plastic and cardboard, and some food tenants have their own composting programs. Transit options are provided by the City. For more information about the Terragreen program visit our News page.