On June 30, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the sale of a multi-tenant retail plaza located at 1378-1386 Exmouth Street in Sarnia, ON.
The plaza comprised 21,802 square feet of retail space and had two tenants, Best Buy and A&W. The total sale price for the property was $5.75M.
“The property at 1378-1386 Exmouth Street, Sarnia was identified in Spring 2019 as appropriate for a strategic disposition, and was sold at a premium to the property’s International Financial Reporting Standards (IFRS) value established in January 2020,” said Gordon Driedger, President, Skyline Retail REIT.
“Skyline Retail REIT maintains a selective and conscientious strategy for both property acquisition and disposition, and continually monitors all properties’ performance to ensure maximum value to unitholders.”
Post-disposition, Skyline Retail REIT comprises 110 properties in 66 communities in five provinces across Canada, with a total of 4,541,776 square feet of retail space.
Skyline Retail REIT (the “REIT”) is a privately owned and managed portfolio of retail properties, focused on acquiring well-located properties with service-oriented, national brand tenants in secondary and tertiary communities across Canada.
Skyline Retail REIT is offered as an alternative investment product through Skyline Wealth Management, the exclusive Exempt Market Dealer (EMD) for the REIT.
Skyline Retail REIT is committed to providing outstanding places to conduct business and services. It prioritizes superior service to its retail tenants while surfacing value with a goal to deliver stable returns to its investors.
To learn more about Skyline Retail REIT, please visit SkylineRetailREIT.ca.
To learn about additional alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Retail REIT is operated and managed by Skyline Group of Companies.
Bethany Curtis
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