Skyline Retail REIT Purchases First Abbotsford, British Columbia Property

February 12, 2021 - Press Release, Property Acquisitions

On February 12, 2021, Skyline Retail REIT purchased a new retail property in the city of Abbotsford, British Columbia.

Parallel Marketplace is located at 1920 North Parallel Road in Abbotsford, and consists of four retail buildings totaling 72,659 square feet of retail space. The complex has a total of 14 tenants including anchor tenant Otter Co-Op Grocery, as well as Anytime Fitness and Bank of Montreal. The total purchase price for Parallel Marketplace was $31.4 million.

Located in east Abbotsford, this complex is easily accessible from the Trans Canada Highway, and has complementary shopping, hotels, and restaurants nearby.

“Skyline Retail REIT is pleased to be entering a new community with its first acquisition of 2021, with the purchase of Parallel Marketplace in Abbotsford,” said Gordon Driedger, President, Skyline Retail REIT.

“The Retail REIT has seen success in its expansion in British Columbia; in addition to this new purchase, we have holdings in Kelowna and Sooke, the latter of which was recognized in 2020 by the Victoria Real Estate Board’s commercial building awards.”

Skyline Retail REIT now comprises 111 properties in 67 communities in five provinces across Canada, with a total of 4,672,961 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 exclusive 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
Director of Marketing, Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
(519) 826-0439(519) 826-0439 x 243


Related Articles:

Skyline Retail REIT Purchases 2 Buildings in Fergus, Ontario

March 26, 2018

On April 26th, 2018, the Skyline Retail REIT purchased...

Skyline Retail REIT Sells Property in Brandon, MB

November 10, 2020

Skyline Retail REIT sells a 16,986 square foot property...

Skyline Retail REIT Acquires Its First Property in Listowel, Ontario

August 4, 2015

On Friday, July 31st, 2015, the Skyline Retail REIT...

Disclaimer

The information provided on this website is for general information purposes only and is derived from sources that Skyline Retail REIT believes are reliable. This website does not constitute an offer of, or solicitation for, the purchase and sale of any securities under any circumstances. Please read the confidential offering documents before investing, as they contain important information on fees and risk factor. Nothing herein should be construed as investment, legal, tax, regulatory or accounting advice.