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 Dollarama Familiprix (pharmacy) National Bank Tim Hortons |
55,574 | $14.86M |
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.