Edmonton Industrial (I)
620,000 Square Foot Multi-Tenant Industrial Portfolio
Value-Add Program Completed:
- Increased value of assets by improving functionality and overall quality;
- Major capital projects included new roofs, new exterior facades, upgraded electrical service, new HVAC, improved loading docks, new overhead doors/bumpers, new asphalt parking lots and new landscaping;
- Implemented uniform standardized signage for tenants at all properties;
- Actively managed 114 tenants in 22 buildings through renewals, relocations, expansions and re-tenanting;
- Converted 97 month to month gross tenant leases to institutional quality long-term net leases;
- Converted two properties to strata units and sold to individual owner/users;
- Purchased December 2005 for $28,000,000;
- Sold September 2010 for $67,483,833.