Pure Industrial Real Estate Trust (PIRET) has entered into conditional agreements to acquire $91.6 million of income-producing properties consisting of 11 industrial properties representing 772,251 square feet of gross leasable area (GLA) located in Ontario, Alberta and British Columbia.
The Ontario portfolio consists of four single tenant industrial properties in Kitchener, Burlington and Vaughan comprising an aggregate of 462,561 square feet of GLA. The purchase price for this portfolio is $34.9 million. The Western portfolio consists of five single tenant industrial properties in Calgary, Edmonton and Grande Prairie, Alta. and Richmond, B.C. comprising an aggregate of 237,141 square feet of GLA for $48.0 million. A separate Calgary portfolio consists of two single-tenant industrial properties comprising an aggregate of 72,549 square feet of GLA, bought for $8.7 million.