Skyline Commercial REIT sells Newmarket, Ontario property

Skyline Commercial REIT sells Newmarket, Ontario property

On October 26, 2020, Skyline Commercial REIT sold a property at 1100 Gorham Street in Newmarket, Ontario.

Originally purchased by the REIT in November 2012 as part of a large GTA-area portfolio, the flex-industrial property totals 55,506 square feet and was Skyline Commercial REIT’s only property in the town of Newmarket.

With this property sale, Skyline Commercial REIT left Newmarket.

“1100 Gorham Street was identified in 2020 as appropriate for a strategic disposition,” said Michael Mackenzie, President, Skyline Commercial REIT.

“The capital from this sale will be redirected toward new opportunities with a focus on Class A  assets1 in the logistics and warehousing sector. We will continue to evaluate the Skyline Commercial REIT portfolio and identify any non-core assets, where strategic dispositions can surface potential further value for our investors.”

 

1  BOMA Canada’s definition of a Class A building: https://bomacanada.ca/questions/what-is-a-class-a-building/