On October 24, 2018, the Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the acquisition of a substantial 9-property portfolio of assets across Western Canada.
|Property Address||Notable Tenant Service Types||Total Square Footage||Purchase Price|
|1131 Lawson Avenue, Kelowna, BC||Grocery; Pharmacy||32,532||$10.4M|
|2211 Pembina Highway, Winnipeg, MB||Grocery; Pharmacy||15,780||$6.3M|
|6660 Sooke Road, Sooke, BC||Grocery; Pharmacy; Medical; Liquor; Restaurant; Dollar Store||68,809||$19.25M|
|9910-9940 92nd Street, Grande Prairie, AB||Pharmacy; Bank; Liquor; Fitness; Restaurant||43,017||$15.9M|
|13010-137th Avenue NW, Edmonton, AB||Pharmacy; Auto||23,200||$3.8M|
|100-420 Manning Cross NW, Edmonton, AB||Bank; Restaurant; Daycare; Dental; Medical; Fitness; Pharmacy||64,555||$22.7M|
|139 Victoria Avenue East, Brandon, MB||Pharmacy||16,986||$4.55M|
|382 & 390 Main Street, Steinbach, MB||Pharmacy; Medical; Insurance||20,956||$6M|
|777 Sherbrook Street, Winnipeg, MB||Pharmacy||16,839||$5.8M|
Together, the portfolio comprises 302,674 square feet of retail space. The total purchase price was $94.7M. These properties are the Skyline Retail REIT’s first purchases in the provinces of BC, MB, and AB.
Introduced in 2013, the Skyline Retail REIT is fully managed and operated by the Skyline Group of Companies, a Guelph, ON-based real estate acquisition, management, and investment firm.