On March 10, 2022, Skyline Retail REIT purchased a retail plaza located at 1010 Talbot Street in St. Thomas, Ontario. This property is Skyline Retail REIT’s first purchase in the city of St. Thomas.
The property comprises 74,262 square feet of retail space on 7.15 acres. It is located in central St. Thomas on the southern side of Talbot Street, a major thoroughfare in the city, with complementary shopping and services nearby.
The property is 100% occupied with 14 tenants and anchored by a FreshCo (Sobeys) grocery store.
The total purchase price for the property was $20.85 million.
“We are pleased to complete Skyline Retail REIT’s first acquisition of 2022 with the purchase of this grocery-anchored asset,” said Gordon Driedger, President, Skyline Retail REIT.
“The property is located on the corner of the high-traffic intersection of Talbot Street and First Avenue in St. Thomas, providing excellent visibility for its tenants such as FreshCo, LCBO, and Dollarama. The asset is well-aligned with the REIT’s established portfolio of grocery- and pharmacy-anchored retail properties. Our focus is to produce stable and growing returns for our investors and Skyline Retail REIT will continue to identify opportunities to do so.”
Skyline Retail REIT now comprises 113 properties in 68 communities in five provinces across Canada, with a total of 4,787,898 square feet of retail space.