On June 7, 2021, Skyline Commercial REIT purchased a property at 417 Advance Boulevard in Tecumseh, ON.
The property is an industrial warehouse with 97,312 square feet of commercial space on 6.55 acres. It is currently tenanted by Ground Effects Inc.
The purchase price for the property was $8.68M.
“This acquisition fits well with our fund’s continuing strategy to acquire properties that meet the growing needs of the warehousing and logistics sector,” said Michael Mackenzie, President, Skyline Commercial REIT.
“The property is well-located within minutes of HWY 401 and offers strong fundamentals in terms of superior clear heights and loading ratios. Skyline Commercial REIT will continue to grow its portfolio with the acquisition and development of these types of warehousing, logistics, and distribution properties in strategic locations across Canada.”
Although 417 Advance Boulevard is Skyline Commercial REIT’s first purchase in Tecumseh, the REIT owns an additional four properties (totalling 369,866 square feet) in Windsor.
Tecumseh is a town in which Skyline is already well-established, with four multi-residential properties (totalling 299 suites, with an additional 142 suites under development) owned by Skyline Apartment REIT.
Post-acquisition, Skyline Commercial REIT comprises 87 properties in 34 communities in five provinces across Canada, with a total of 7,674,853 square feet of commercial space.