ReDev Properties Ltd. and It's President Richard Crenian Announce the Sale of Trail South Corners, Parkdale Shopping Plaza, Whitemud Crossing and Inglewood Towne Centre

TORONTO, March 10, 2016 /CNW/ - Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the offering of Trail South Corners, Parkdale Shopping Plaza, Whitemud Crossing and Inglewood Towne Centre. Inglewood was purchased in 2003 and the remaining properties in 2005.

Each property offers a significant amount of rentable space, as outlined below:

  • Trail South Corners - 29,024 square feet
  • Parkdale Shopping Plaza - 23,490 square feet
  • Whitemud Crossing - 93,353 square feet (with the potential for two additional pads)
  • Inglewood Towne Centre - 60,052 square feet (inclusive of the pad site developed and leased in 2009)

Inglewood Towne Centre is 96.2% leased and the remaining three properties are fully leased.

CBRE Edmonton has been contracted to sell Trail South Corners and Parkdale Shopping Plaza. Colliers Edmonton has been contracted to sell Whitemud Crossing and Inglewood Towne Centre.

ReDev Properties Ltd. acted as the owner and asset manager for all four properties. Richard Crenian offers the following thoughts: "We are proud to announce the offering of these four tremendous properties. We believe that the company purchasing these properties will be incredibly lucky and benefit from a good upside. These plazas have provided us with the opportunity to establish many strong and long-term relationships, which we are truly grateful for, with various tenants"

These will be the first four properties to be sold in 2016.

About ReDev Properties Ltd.
ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, ReDev Properties has purchased and managed over 30 commercial real estate properties in Canada. ReDev Properties understands that the key to any successful commercial real estate project is location. ReDev Properties carefully and diligently locates existing commercial real estate properties in markets which provide the necessary stability and future growth to ensure our assets retain and increase their value.

Richard Crenian has personally developed, owned, and managed real estate worth over two billion dollars since 1981.

SOURCE ReDev Properties Ltd

Image with caption: "ReDev Properties Ltd (CNW Group/ReDev Properties Ltd)". Image available at: http://photos.newswire.ca/images/download/20160310_C1279_PHOTO_EN_640238.jpg

For further information: Richard Crenian, President, richardc@redevgroup.ca, 416-225-5700

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