[Guelph, ON – May 19, 2022]
On May 19, 2022, Skyline Retail REIT sold a property at 808 & 820 Dufferin Avenue, Wallaceburg, Ontario. The property consists of two building totaling 15,577 square feet, with Chatham Kent Community Health Centres, Money Mart, and Wallaceburg Denture Clinic as tenants.
“Aligned with Skyline Retail REIT’s strategy of focusing on grocery- and pharmacy-anchored assets, the REIT’s management identified 808 & 820 Dufferin Avenue in Wallaceburg as no longer a core asset and appropriate for disposition. This sale expresses the REIT’s objective to increase its weighting in retail centers that act as community shopping hubs, catering to the essential needs of consumers,” said Gordon Driedger, President, Skyline Retail REIT.
“The funds surfaced from the disposition will be used towards opportunities that can help us achieve the REIT’s goal of maximizing value for Unitholders.”
Post-disposition, Skyline Retail REIT comprises 112 properties in 68 communities in 5 provinces across Canada, with a total of 4,821,978 square feet of retail space.