[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.
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.