Imperial's Office & Retail Properties for Sale
CNW / Nov 1, 2000
EDMONTON, Nov. 1 /CNW/ - Imperial Equities Inc. (CDNX:IEI) announcedtoday that it will sell off its retail and office properties.
Among the Edmonton properties are the Compusoft Canada building located at 9935 - 29 A Avenue and the Yellowhead Centre, a retail plaza anchored by McDonald's and Petro Canada at 142 Street and Yellowhead Trail.
"The current demand for these types of properties would suggest that it is an appropriate time for the disposition of these assets", said Sine Chadi, chief executive officer of Imperial Equities. "All of these properties are 100% occupied and rental revenues are the strongest they have been in 10 years. With every investment property, there comes a time when we believe we have maximized its potential and the disposition of the asset would be beneficial to our company. I am confident that the sale of these properties at this time would be the right decision," Chadi said.
Chadi further commented that "Imperial Equities will continue to focus on the undervalued Industrial market within the Edmonton region. We will continue to be aggressive in the acquisition of multi-tenanted industrial properties". |