On March 14, 2022, Skyline Commercial REIT sold a multi-tenant retail property at 815 & 825 Weber Street East and 1770 King Street East in Kitchener, Ontario.
The property totals 27,411 square feet on 1.58 acres. The total sale price for the property was $7.3million.
“Skyline Commercial REIT management identified this asset as appropriate for disposition due to the REIT’s current trajectory of increasing its weighting in the warehousing, distribution, and logistics sector,” said Michael Mackenzie, President, Skyline Commercial REIT.
“The capital from this sale will be used toward opportunities within the REIT’s target sector involving modern industrial facilities, including strategic acquisitions and developments. We believe this strategy can be accretive to unit value, which can ultimately create further value for Skyline Commercial REIT investors.”