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.
| Property Address | Tenants | Total Sq. Ft. | Sale Price |
|---|---|---|---|
| 1378-1386 Exmouth Street |
Best Buy A&W |
21,802 | $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.