On August 31, 2021, Skyline Commercial REIT sold Newbold Business Park in London, Ontario. The property comprised the following addresses:
- 500 – 530 Newbold Street
- 532 – 552 Newbold Street
- 560 – 594 Newbold Street
- 501 – 505 Newbold Street
- 35 Consortium Court
- 101-141, 201-241, 301-319, 321-357, 401-435 Consortium Court
- 501-537, 555-589 Consortium Court
- 601-637, 641-677, 681-705 Consortium Court
- 801-817, 821-861 Consortium Court
The property totals 365,093 square feet and was Skyline Commercial REIT’s only property in the city of London.
With this property sale, Skyline Commercial REIT will be leaving the London market.
“Skyline Commercial REIT management identified the Newbold Business Park portfolio in London, Ontario as a non-core asset appropriate for disposition,” said Michael Mackenzie, President, Skyline Commercial REIT.
“This disposition is representative of the REIT’s strategy to refine its portfolio to hold an increased weighting in the warehousing, distribution, and logistics sector. The capital from this sale will be redirected toward new opportunities with a continued focus on creating further value for our investors.”