[Guelph, Ontario – March 10, 2022]
On March 10, 2022, Skyline Retail REIT purchased a retail plaza located at 1010 Talbot Street in St. Thomas, Ontario. This property is Skyline Retail REIT’s first purchase in the city of St. Thomas.
The property comprises 74,262 square feet of retail space on 7.15 acres. It is located in central St. Thomas on the southern side of Talbot Street, a major thoroughfare in the city, with complementary shopping and services nearby.
The property is 100% occupied with 14 tenants and anchored by a FreshCo (Sobeys) grocery store.
The total purchase price for the property was $20.85 million.
“We are pleased to complete Skyline Retail REIT’s first acquisition of 2022 with the purchase of this grocery-anchored asset,” said Gordon Driedger, President, Skyline Retail REIT.
“The property is located on the corner of the high-traffic intersection of Talbot Street and First Avenue in St. Thomas, providing excellent visibility for its tenants such as FreshCo, LCBO, and Dollarama. The asset is well-aligned with the REIT’s established portfolio of grocery- and pharmacy-anchored retail properties. Our focus is to produce stable and growing returns for our investors and Skyline Retail REIT will continue to identify opportunities to do so.”
Skyline Retail REIT now comprises 113 properties in 68 communities in five provinces across Canada, with a total of 4,787,898 square feet of retail space.
About Skyline Retail REIT
Skyline Retail REIT (the “REIT”) is a privately owned and managed portfolio of retail properties, focused on acquiring well-located properties with service-oriented, national brand tenants in secondary and tertiary communities across Canada.
Skyline Retail REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the preferred Exempt Market Dealer for the REIT.
Skyline Retail REIT is committed to providing outstanding places to conduct business and services. It prioritises superior service to its retail tenants while surfacing value with a goal to deliver stable returns to its investors.
To learn about additional alternative investment products offered through Skyline Wealth, please visit SkylineWealth.ca.
Skyline Retail REIT is operated and managed by Skyline Group of Companies.
For media inquiries, please contact:Jeff Stirling
Vice President, Corporate Marketing & Communications, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8