Skyline Commercial REIT: Looking Back on 2021

December 23, 2021 - Press Release

[Guelph, Ontario – December 21, 2021]

2021 was a busy year for Skyline Commercial REIT.

The REIT acquired three properties in 2021:

  • A 97,312 square foot warehouse at 417 Advance Boulevard in Tecumseh, Ontario, occupied by Ground Effects
  • A 498,000 square foot distribution centre at 6600 72nd Avenue Southeast in Calgary, Alberta, 100% occupied by Canadian Tire
  • A 150,000 square foot warehouse at 261085 High Plains Boulevard in Rocky View County, Alberta, 100% occupied by CHEP Canada

Together, the assets total more than 745,000 square feet.

“Our 2021 acquisitions reflect the REIT’s strategy to focus on increasing the portfolio’s weighting in the warehousing, distribution, and logistics sector,” said Michael Mackenzie, President, Skyline Commercial REIT.”

This past year, the REIT has also built a considerable pipeline of new logistics and warehousing developments through its development partnerships in Montreal and Calgary. By 2024, this initiative is anticipated to deliver close to 2 million square feet of modern, well-located logistics and warehousing assets to the REIT.

Currently active developments:

Development Square Footage Delivery Date
11215 Boulevard Métropolitain Est, Montreal-Est, QC 250,000 Q1 2022
151 Avenue Reverchon, Pointe-Claire, QC 325,000 Q1 2022
6200 Rue Notre-Dame Est, Montreal, QC 102,000 Q1 2023
6000 Route Transcanadienne, Pointe-Claire, QC 270,000 Q2 2023
3601 Avenue de la Gare, Mascouche, QC 260,000 Q3 2023
137 Boulevard Bellerose Ouest, Laval, QC 296,000 Q3 2023

 

11215 Boulevard Métropolitain Est, Montreal-Est, QC

151 Avenue Reverchon, Point-Claire, QC  Skyline Commercial REIT

“Skyline Commercial REIT is playing an active role in serving the evolving needs of tenants as the light industrial real estate landscape changes,” said Mackenzie. “Demand for larger logistics and warehousing facilities continues to increase, and we are answering the call with new development in underserved major markets. These spaces will allow tenants to more efficiently perform storage, distribution, and last-mile services for e-commerce enterprises.”

2021 also saw four disposition transactions for Skyline Commercial REIT, totalling more than 597,000 square feet with gross sales proceeds of $87.4 million:

  • 5 Cochran Drive, Ayr, Ontario
  • Newbold Business Park (nine properties at Newbold Street and Consortium Court), London, Ontario
  • 2410, 2460 & 2500-2510 Tedlo Street, Mississauga, Ontario
  • 2187 & 2215 Huron Church Road, Windsor, Ontario

“Capital from these sales is being redirected toward the REIT’s development pipeline of modern, well-located logistics and warehousing assets in key markets for the portfolio,” said Mackenzie. “It will also be redirected toward new opportunities that align with the REIT’s strategy of acquiring primarily newer product in the warehousing, distribution, and logistics sector.”

About Skyline Commercial REIT

Skyline Commercial REIT (the “REIT”) is a privately owned and managed portfolio of commercial properties, focused on acquiring industrial and logistics-centred properties along major highway corridors and transportation routes in Canada.

Skyline Commercial REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth”), the exclusive Exempt Market Dealer for the REIT.

Skyline Commercial REIT is committed to providing outstanding places to do business and superior service to its 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 Commercial 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

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Disclaimer

The information provided on this website is for general information purposes only and is derived from sources that Skyline Commercial 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.