EDMONTON, Dec. 2, 2016 /CNW/ - Imperial Equities Inc. ("Imperial") today has announced it has finalized a Purchase and Sale Agreement for the acquisition of the 149 Street Business Centre located at 12004–149 Street, Edmonton, Alberta (the "Property"). The transaction Agreement is in the amount of $9,800,000.00 and is expected to close by February 1, 2017.
The Property is situated on 2.82 acres of prime commercial/industrial real estate with considerable frontage along the highly utilized 149 Street in northwest Edmonton. Built in 1999, the 47,652 ft2 building is an aesthetically pleasing multi tenanted building which is fully occupied with long term tenants including the government of Canada. The Property has excellent curb appeal and superb exposure to one of Edmonton's most travelled thoroughfares.
"The location of the Property is strategic to Imperial's long term goal of creating an attractive and functional industrial area in northwest Edmonton. The commercial exposure of the Property is superb but more importantly it borders the most easterly part of Imperial's "Coppertone Industrial Common" which has become one of northwest Edmonton's desired locations. The Property will certainly be a very appealing addition to Imperial's growing industrial and commercial real estate portfolio and will soon be renamed to Coppertone VII" said Sine Chadi, President and CEO of Imperial.
About Imperial Equities Inc.:
Imperial Equities Inc. Is based in Edmonton, Alberta. A publically traded company anchored by commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. 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]