[Guelph, ON – June 10, 2020]
On June 10, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the acquisition of a multi-tenant retail plaza located at 3080-3110 Henri-L.-Chevrette and 5371 Saint-Jean in the community of St-Félix-de-Valois, QC (northeast of Montreal).
The plaza comprises four buildings totaling 55,574 square feet of retail space and is anchored by grocery tenant IGA (Sobeys). The total purchase price for the property was $14.86M.
|Property Address||Tenants||Total Sq. Ft.||Purchase Price|
|3080-3110 Henri-L.-Chevrette and 5371 Saint-Jean, St-Félix-de-Valois, QC||· IGA (Sobeys) – anchor tenant|
· Familiprix (pharmacy)
· National Bank
· Tim Hortons
The plaza is Skyline Retail REIT’s first purchase in the community of St-Félix-de-Valois.
“We’re pleased to be growing our footprint in the province of Quebec with this purchase in St-Félix-de-Valois, a new community for Skyline Retail REIT,” said Gordon Driedger, President, Skyline Retail Asset Management Inc.
“The plaza’s tenants are grounded in ‘everyday essential’ services that have proven resilient in uncertain times, including the current retail climate. Skyline Retail REIT will continue to seek these types of assets that act as community shopping ‘hubs’ in Canada’s secondary and tertiary markets.”
Post-acquisition, Skyline Retail REIT comprises 111 properties in 67 communities in five Canadian provinces, with a total of 4,563,778 square feet of retail space.
Press releases are disseminated by Skyline Wealth Management Inc. (“Skyline Wealth”) on behalf of the Issuer as at the date of publication. Skyline Wealth does not undertake to advise the reader of any changes. Skyline Wealth has not taken any steps to verify accuracy. Some of the investment products offered by Skyline Wealth are from related issuers. A full list of issuers related to Skyline Wealth and details of the relationship between them is available upon request.