January 11, 2013 – Skyline Commercial REIT made its first acquisition of 2013 on Wednesday, January 9th. The property, located at 425 Clair Road West in Guelph, had a $2.75 million purchase price, and is made up of 32,498 square feet of commercial space.
This new acquisition is Skyline Commercial REIT’s first commercial property in Guelph.
“425 Clair Road West is a well-maintained industrial property located in Guelph’s rapidly developing south-end industrial market,” says Mike Bonneveld, Director of Acquisitions at Skyline Asset Management, Inc. “The building is also well-positioned, just moments off the Hanlon Expressway, and is 100% leased to Viqua, a very strong and growing tenant. Skyline Commercial REIT is excited to acquire its first property in Guelph, the Skyline Group of Companies’ home town, and looks forward to further expanding and enhancing its presence in this market.
Post-acquisition, the Skyline Commercial REIT currently comprises 38 properties spread out across 10 Ontario communities, and approximately 1,702,492 square feet of commercial space. The total internally appraised IFRS value of the Skyline Commercial REIT is approximately $146 million.