Crombie REIT has purchased a portfolio of 22 retail properties for $255 million. With the exception of two assets located in Manitoba and Saskatchewan, all of the properties are located in Ontario.
“National and regional tenants comprise approximately 90% of the total rental base for the Properties. Gap lease and head lease adjustments will result in the equivalent of 100% occupancy at closing. Furthermore, certain of the assets have attractive expansion opportunities, which should provide Crombie with additional upside if the REIT chooses to pursue development initiatives in the future. We have completed extensive due diligence in connection with the acquisition and are confident that this portfolio represents a strong addition to our existing asset base,” said Donald Clow, Crombie’s president and CEO.
The properties primarily consist of drug and food-anchored retail centres, with a primary concentration in Ontario:
|
Property |
City |
Prov |
Major |
Total GLA |
||
|
3156 Birds Hill Rd. |
Birds Hill |
MB |
Sobeys |
39,193 |
||
|
160 Main St. S |
Brampton |
ON |
Shoppers/Metro |
101,325 |
||
|
4021 Upper Middle Rd. |
Burlington |
ON |
Mac’s |
11,066 |
||
|
2095 Dorchester Rd. |
Dorchester |
ON |
Sobeys |
31,197 |
||
|
2300 Dorchester Rd. |
Dorchester |
ON |
Shoppers |
18,467 |
||
|
703 Notre Dame St. |
Embrun |
ON |
Shoppers |
16,910 |
||
|
15 Lindsay St. |
Fenelon Falls |
ON |
Sobeys |
25,010 |
||
|
263 Guelph St. |
Georgetown |
ON |
Shoppers |
28,492 |
||
|
150 Main St. E |
Grimsby |
ON |
Shoppers |
37,256 |
||
|
321 Main St. E |
Grimsby |
ON |
TCS Stores |
24,065 |
||
|
32-38 Ottawa St. |
Havelock |
ON |
Sobeys |
14,866 |
||
|
10 Alkenbrack St. |
Napanee |
ON |
Shoppers Realty |
24,735 |
||
|
5125 Montrose Rd. |
Niagara Falls |
ON |
Shoppers |
17,043 |
||
|
9801 Territorial Dr. |
North Battleford |
SK |
Sobeys/Tim Hortons |
29,752 |
||
|
1899 Algonquin Ave. |
North Bay |
ON |
Sobeys/Target |
191,123 |
||
|
400 Landsdowne St. E |
Peterborough |
ON |
Loblaws/McDonalds |
67,523 |
||
|
1875 & 1913 Landsdowne St. W |
Peterborough |
ON |
Shoppers |
18,675 |
||
|
511 Huron St. |
Stratford |
ON |
Shoppers |
27,375 |
||
|
521 Hwy. 8 |
Stoney Creek |
ON |
Mac’s |
9,084 |
||
|
2751-2753 Eglinton Ave. E |
Toronto |
ON |
Shoppers |
16,995 |
||
|
1780 Markham Rd. |
Toronto |
ON |
Shoppers |
38,715 |
||
|
1555-1563 The Queensway |
Toronto |
ON |
Future Shop |
67,004 |