13 Aug BTB acquires a modern, high-bay, industrial property
Montréal, Québec (August 13, 2014): BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “Trust”) is proud to announce that, after the conclusion of a due diligence process, it has purchased an industrial property in a suburb of Quebec City. The purchase price for this sale and leaseback acquisition is $7.9 million, excluding transaction fees, and the lease term is 15 years, with an option to renew. This transaction brings to 71 the number of properties owned by BTB.
175 de Rotterdam Street, Saint-Augustin-de-Desmaures, Quebec
Located near Highway 40 and accessible via Route 138, this newly built complex sits on a parcel of land of 343,923 square feet and this high-bay industrial building has a leasable area of 40,400 square feet. This top-of-the-line facility consists of a main office and a showroom, a parts counter, a warehouse and a repair shop. It is occupied by a single tenant, Strongco Corporation. Strongco, a company listed on the Toronto Stock Exchange (TSX: SQP), is an important distributor of multiline construction heavy machinery in Canada, representing leading equipment manufacturers with globally recognized brands including Volvo Construction Equipment, Case Corporation, Manitowoc Crane Group, Terex Cedarapids, Terex Finlay, Ponsse, Fassi, Allied Construction, Taylor, ESCO, Dressta, Sennebogen, Jekko, Takeuchi, Link-Belt and Kawasaki.
For further information, please contact:
|Mr. Michel Léonard
President and Chief Executive Officer
514-286-0188, ext. 228
|Mr. Benoit Cyr
Vice-President and Chief Financial Officer
514-286-0188, ext. 230