[Guelph, ON – June 16, 2021]
On June 16, 2021, Skyline Retail REIT sold a property at 1021 Avenue du Palais, Saint-Joseph-de-Beauce, QC. The property totals 49,628 square feet and was Skyline Retail REIT’s only property in the city of Saint-Joseph-de-Beauce, as well as the REIT’s only enclosed mall.
The total sale price for the property was $6.32M.
With this property sale, Skyline Retail REIT will be leaving the Saint-Joseph-de-Beauce market.
“1021 Avenue du Palais was identified in 2021 as appropriate for a strategic disposition,” said Gordon Driedger, President, Skyline Retail REIT.
“Over the past four years in Saint-Joseph-de-Beauce, Skyline Retail REIT has provided tenants with quality, high-traffic locations close to Highway 73 to facilitate their businesses. We will continue to evaluate the Skyline Retail REIT portfolio and identify any non-core assets, where we believe strategic dispositions can surface further value for our investors.”
Post-disposition, Skyline Retail REIT comprises 112 properties in 67 communities in five provinces across Canada, with a total of 4,713,636 square feet of retail space.