On December 18, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the acquisition of two retail properties located at 675-677 Blvd des Seigneurs and 5661-5671 Blvd Laurier in the suburb of Terrebonne, QC (north of Montreal).
Together, the properties comprise 86,764 square feet of retail space. They are each anchored by grocery tenant IGA (Sobeys). The total purchase price for the properties was $16.9M.
| Property Address | Tenants | Total Sq. Ft. | Purchase Price |
|---|---|---|---|
| 675-677 Blvd des Seigneurs, Terrebonne, QC | IGA (Sobeys) | 39,286 | $6.87M |
| 5661-5671 Blvd Laurier, Terrebonne, QC | IGA (Sobeys) and Familiprix | 47,478 | $10.02M |
The properties are Skyline Retail REIT’s first purchases in the community of Terrebonne.
“We’re pleased to announce that Skyline Retail REIT has moved into another new community with its two purchases in Terrebonne, Quebec,” said Gordon Driedger, President, Skyline Retail Asset Management Inc.
“Both properties are grocery-anchored with IGA (Sobeys) as the anchor tenant, thereby classifying as ‘everyday essential’ services. The industry is taking notice that food-anchored centres and similar types of tenants are proving their strength amid COVID-19 in Canada.”
Skyline Retail REIT now comprises 110 properties in 66 communities in five provinces across Canada, with a total of 4,594,689 million square feet of retail space.