[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
“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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