EDMONTON, AB, Sept. 21, 2021 /CNW/ - Imperial Equities
Inc. (TSXV: IEI) today announced the acquisition of a new property
in Fort St. John, British
Columbia, completing its first transaction in that province
and the final transaction of its 2020-2021 fiscal year. The
$3.2 million transaction closed on
September 15, 2021, and includes a
ten-year covenant with a large national corporation.
The property features a 21,140 square foot industrial building
situated on 4.62 acres and is fully leased to Wajax, one of
Canada's longest standing and most
diversified industrial products and services providers. The
concrete block building includes seven grade-level overhead doors,
including two 18-foot by 18-foot doors and two 5-ton cranes and one
1.5-ton crane. The building also features a two-story office
component and a secure storage yard, as well as yard storage
structures.
"Fort St. John is British Columbia's energy capital, and a
robust centre of much of the province's energy related activity,
with growing capital investment and strong economic projections,"
said Sine Chadi, President and CEO of Imperial Equities Inc. "This
is an ideal time for our Company to undertake an investment in this
region, and doing so with a strong tenant like Wajax, with whom we
already have such a strong relationship, is ideal."
As Landlord, Imperial will immediately conduct some building
upgrades to improve its overall curb appeal and address some minor
deferred maintenance. Arrangements for leasehold improvements were
covered within the lease negotiations. The upgrades will also
include improvements to the energy efficiency of the property with
installations of LED lighting throughout.
About Imperial Equities Inc:
Based in Edmonton, Alberta,
Imperial Equities Inc. is a publicly traded company anchored by
industrial, agricultural, and commercial 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.