TORONTO, March 5, 2015 /CNW/ - ReDev Properties Ltd. is pleased to announce the sale of Leduc Town Square, a commercial shopping centre located at 6108-50 Street, Leduc, Alberta.
Purchased in 2006, Leduc Town Square is located in a prime location, along the Queen Elizabeth II Highway into Edmonton. Offering 51,393 square feet of rentable space, Leduc hosts a diverse mix of tenants including anchor tenants such as Shoppers Drug Mart, Giant Tiger, Cora Restaurant and Sobey's Western Cellars Inc This centre is shadow-anchored by a Safeway grocery store.
ReDev Properties Ltd. was engaged as the asset manager for the property. "We are exceptionally pleased with the outcome of the sale and being able to yield a respectable return to our investors," says ReDev Properties Ltd. President, Richard Crenian. "Leduc Town Square has several large and attractable tenants, which helped draw in strong cash flow."
Leduc Town Square is the eighth successful property project ReDev Properties Ltd. has owned, operated and sold.
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. announces sale of Leduc Town Square (CNW Group/ReDev Properties Ltd)". Image available at: http://photos.newswire.ca/images/download/20150305_C5976_PHOTO_EN_12859.jpg
For further information: For more information on ReDev Properties Ltd please contact: Richard Crenian, President, [email protected], 416-225-5700