Skyline Retail REIT Sells Property in Sarnia, ON - Skyline Wealth

Skyline Retail REIT Sells Property in Sarnia, ON

[Guelph, ON – June 30, 2020]

On June 30, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the sale of a multi-tenant retail plaza located at 1378-1386 Exmouth Street in Sarnia, ON.

The plaza comprised 21,802 square feet of retail space and had two tenants, Best Buy and A&W. The total sale price for the property was $5.75M.

Property Address Tenants Total Sq. Ft. Sale Price
1378-1386 Exmouth Street ·         Best Buy

·         A&W

21,802 $5.75M

“The property at 1378-1386 Exmouth Street, Sarnia was identified in Spring 2019 as appropriate for a strategic disposition, and was sold at a premium to the property’s International Financial Reporting Standards (IFRS) value established in January 2020,” said Gordon Driedger, President, Skyline Retail REIT.

“Skyline Retail REIT maintains a selective and conscientious strategy for both property acquisition and disposition, and continually monitors all properties’ performance to ensure maximum value to unitholders.”

Post-disposition, Skyline Retail REIT comprises 110 properties in 66 communities in five provinces across Canada, with a total of 4,541,776 square feet of retail space.

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