EDMONTON, March 9, 2020 /CNW/ - Imperial Equities Inc. ("Imperial") today has announced it has finalized the purchase of the Russell Hendrix Building in West Edmonton. The transaction is expected to close on March 31, 2020, and is valued at $7,360,000.
The 71,381 square foot industrial warehouse sits on 2.96 acre site, and is home to the Edmonton region distribution activities of Russell Hendrix, Canada's largest restaurant equipment dealer.
"We are pleased with this transaction and the opportunity to secure an industry leading tenancy with a company that has deep roots in Western Canada," said Sine Chadi, CEO Imperial Equities. "This is a solid investment with a strong tenant covenant that both supports our desire to see more industry-based diversification in our investments and adds an immediate contributor to our bottom line."
About Imperial Equities Inc.:
Based in Edmonton, Alberta, Imperial Equities Inc. is a publicly traded company anchored by industrial, commercial and agricultural real estate properties in its targeted markets throughout Western Canada. Additional information is available at: www.imperialequities.com. Imperial's common shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Imperial Equities Inc.
For further information: Editorial Contact: Sine Chadi, CEO, Imperial Equities Inc., Phone: 780 424-7227, Email: [email protected]