TORONTO, Sept. 23, 2015 /CNW/ - Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the listing of the 105th Street Government Building in Edmonton, Alberta.
ReDev Properties Ltd. has engaged Colliers to act as listing agent for the property.
Purchased in 2005, the 105th Street Government Building has 94,901 square feet of rentable space, of which 89.7 percent is occupied by government tenants.
The property enjoys an excellent downtown Edmonton location at 10242-105 Street, just minutes from the new Ice District. The property has been diligently managed, recently over $1,300,000 in capital expenditures, including elevator modernization, an upgraded sprinkler system, and lobby upgrades have incurred.
ReDev Properties Ltd. is engaged as the asset manager for the property. Richard Crenian, President of ReDev Properties Ltd., offers the following thoughts: "The property will offer the eventual purchaser an attractive, well-located office tower in the completely revitalized downtown Edmonton, with stable and secure tenancies. We're excited to list this property with Colliers, as we've worked extensively with them in the past. We know they will bring in offers that will generate fair returns for our investors."
The 105th Street Government Building will be the 11th property ReDev Properties Ltd. has owned, operated and sold, and will be the 4th property the group has listed for sale in 2015.
ReDev Properties Ltd. is actively looking to sell the remainder of its portfolio, and welcomes any offers.
About ReDev Properties Ltd.
ReDev Properties Ltd. is a Canadian owned and operated commercial real estate asset management company. Since 2001, ReDev Properties has purchased and managed over 25 commercial real estate properties in Canada on behalf of our investors.
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. Western Canada, specifically Alberta and Saskatchewan, are the economic engines of the country and ReDev has placed a high priority on properties located in these provinces.
ReDev Properties utilizes a long term approach to managing our investors' assets. It generally takes considerable time and expertise to maximize the value of a commercial real estate property. ReDev has the requisite experience and knowledge to capitalize on the lucrative commercial real estate market and maximize the value of our assets.
SOURCE ReDev Properties Ltd
Image with caption: "ReDev Properties Ltd (CNW Group/ReDev Properties Ltd)". Image available at: http://photos.newswire.ca/images/download/20150923_C1381_PHOTO_EN_504170.jpg
For further information: on ReDev Properties Ltd please contact: Richard Crenian, President, [email protected], 416-225-5700