TORONTO, Dec. 13, 2012 /CNW/ - C2C Industrial Properties Inc. ("C2C" or
the "Company") (TSXV: CCH) announced today that it finalized an
agreement to acquire a light industrial property containing
approximately 44,500 square feet of gross leaseable area ("GLA") on 5.6
acres of land. The property includes approximately 3 acres of excess
land, is well-located in a large industrial park in Cambridge Ontario,
close to major highways and key southwestern Ontario markets. The
building is 100% leased to a single national tenant on a multi-year
lease with approximately 8 years of term remaining. The Company will
pay approximately $4.1 million for the property, including all due
diligence and closing costs, satisfied entirely in cash. The property
is being acquired at a going-in capitalization rate of approximately
7.90%. The transaction is expected to close on or before December 20th,
"This acquisition reflects the continuing implementation of C2C's
strategic plan. The property offers an excellent immediate return and
future development opportunities" said Chris Ross, President.
About C2C Industrial Properties Inc.
C2C is a real estate investment corporation specializing in the
acquisition, ownership and operation of light industrial properties
across Canada. C2C currently owns 22 industrial assets totalling
approximately 2.1 million square feet of gross leaseable area. More
information about C2C (CCH: TSX-V) is available at www.c2cip.com.
Forward Looking Statements
This document contains forward-looking statements relating to C2C and
the industry in which it operates and its strategy, action plans and
investments, which may involve estimates, forecasts and projections.
These statements are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict and/or are beyond
C2C's control. Consequently, readers should not place any undue
reliance on such forward-looking statements. These forward-looking
statements are made as of the date of this press release. C2C is under
no obligation to update any forward-looking statements contained herein
should material facts change due to new information, future events or
other factors, unless otherwise required to do so by applicable law.
All forward-looking statements attributable to C2C are expressly
qualified by these cautionary statements.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release. Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this press release.
SOURCE: C2C Industrial Properties Inc.
For further information:
C2C Industrial Properties Inc.
Christopher Ross, President