Done Deals highlights: July 2018 issue

PROREIT buys 12 industrial properties | Our top commercial real estate transactions from Western Investor's latest print edition

By
Western Investor
July 3, 2018





proreit

 

Montreal-based PRO Real Estate Investment Trust has purchased 12 Canadian commercial properties for $45.1 million – including six industrial buildings in Winnipeg. 

The Winnipeg properties are located within the Inkster Industrial Park and the St. James industrial area. The properties account for $27.3 million of the total $45.1 million purchase price. The six buildings have a total leasable area of 237,430 square feet. 

"Vacancy rates in the Winnipeg industrial real estate market are declining and rents are rising," said James W. Beckerleg, president and CEO of PROREIT. “Winnipeg is exactly the type of market we want to be in and we look forward to expanding our assets there over the longer-term."

The portfolio also includes five standalone retail buildings in Quebec and New Brunswick, and 50 per cent undivided interest in an industrial property in Drummondville, QC. 

"The acquisitions will increase our total assets by approximately 12.3 per cent to $412 million,” Beckerleg said. 

The 12 properties total 368,854 square feet of leasable area and are fully occupied on long-term leases. 

 


 

From | JLL Canada. JLL agent Samuel Dean brokered the following:

DEAL | 24-unit apartment complex sold for $131,000 per suite. 115 Street, Edmonton. Price: $3.14 million.

JLL agents Lee Hester and Mike Thompson sold the following:

DEAL | 40,669-square-foot, multi-tenant industrial property on two acres. Regent Street, Burnaby. Price: 8.31 million. 

 

From | CBRE Vancouver. CBRE agent Lance Coulson sold the following:

DEAL | 24-unit apartment complex sold for $325,000 per suite, with an assessed value of $6.74 million. Montcalm Street, Vancouver. Price: $7.8 million. 

 

From | NAI Commercial, Vancouver. NAI agent Ken Kiers brokered the following:

DEAL | More than 15 acres of commercial development land, zoned C2. Flood Hope Road, Hope. Price: $3.6 million. 

 

From | Colliers International, Vancouver. Colliers agents Malcolm Earle and Randy Heed report the following sale:

DEAL | 29,640-square-foot, three-unit warehouse situated across two acres. 271 Street, Langley. Price: $8.23 million. 

Colliers agents Amit Grover, Jandip Deol and Brandon Imada brokered the following:

DEAL | Receivership sale of a partially completed, multi-family property including 24 suites. Fraser Avenue, Fort McMurray. Price: $1.7 million. 

Colliers agents Alan J. Johnson and Mark Lester sold: 

DEAL | Strata wind-up sale including 36 townhouse units on more than five acres. Hammond Road, Pitt Meadows. Price: $15.1 million. 

 

From | HomeLife Glenayre Realty, Chilliwack. HomeLife agent Rick Toor brokered the following:

DEAL | Mixed-use, eight-unit retail and residential building on a 8,260-square-foot lot. Pioneer Avenue, Agassiz. Price: $973,000. 

HomeLife agent Jag Cheema sold: 

DEAL | 44,866-square-foot condo development site, with potential for a four-storey building. Fraser Crescent, Mission. Price: $1.5 million. 

 

From | Avison Young Commercial Real Estate, Vancouver. Avison Young agents Matt Thomas and Mehdi Shokri sold: 

DEAL | Three parcels totalling 14,025 square feet of townhouse development land. E 6th Avenue, Vancouver. Price: $5.74 million. 

Avison Young principal Chris Wieser reports the following:

DEAL | 42-unit concrete high-rise rental West End apartment building, Barclay Street, Vancouver. Price: $19.65 million. 

 

From | LandQuest Realty Corp. LandQuest agent Kurt Nielsen brokered the following sale: 

DEAL | 27-acre mobile home park with 82 pads and room to develop an additional 67 mobile home pads. Beaver Creek Road, Port Alberni. Price: $5.6 million. 

 

Tanya is a recent graduate of Langara College's journalism program and spent a summer freelancing for The Burnaby NOW and The Record, following a reporting internship with the publications. She joins Western Investor as an editorial assistant. Very much a millennial, she sees the irony in writing about real estate she will likely never be able to afford.
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