Skyline Commercial REIT closed the purchase of nine temperature-controlled facilities in Quebec and Western Canada on Thursday afternoon from Quebec City-based Congebec Logistics for $190 million.
The facilities total 1.3 million square feet and are located in the Montreal area (with locations on the island of Montreal, Ste. Julie and Boucherville), Quebec City (three locations), Calgary, Saskatoon and Winnipeg.
“We really like the sector,” Michael Mackenzie, president of Skyline Industrial REIT, told RENX in an exclusive interview. Frozen food is “seeing double-digit annual growth right now. It’s virtually recession-proof in nature.”