CONCERT CONTINUES TO CAPITALIZE ON CONTINUED STRENGTH OF EDMONTON MARKET

On Feb 19, 2007 under Commercial Properties

Vancouver, BC, Canada – In keeping with its strategy to expand its income-producing portfolio, Concert is pleased to announce that it has acquired a 9.8-acre property in Edmonton.

Located at 1104 – 70th Avenue in Edmonton’s Southeast Industrial region at the eastern terminus of 70th Avenue, the property is in close proximity to the intersection of two major thoroughfares, Highway 14 and Sherwood Park Freeway. Zoned medium industrial, the property currently houses one 25,000-square-foot industrial building, which is 100 per cent occupied. The area caters to predominately heavy industrial users that provide goods and services to the oil and gas industry. Typical property requirements include minimal site coverage and maximum yards for storage and assembly.

“The acquisition of 1104-70th Avenue will allow the company to capitalize on the continued strength of the Edmonton industrial market and further diversify geographically,” said Alan Whitchelo, Senior Vice President, Industrial & Commercial, Concert Properties Ltd. “Additionally, this acquisition will add depth to Concert’s growing industrial income portfolio, as well as provide a new development opportunity in the future.”

This latest acquisition in Alberta bring Concert's income-producing properties in British Columbia, Alberta and Ontario to more than 5.2 million square feet, continuing the company's strategy of carefully expanding and geographically diversifying its portfolio.

Subscribe to Concert’s Blueprint Newsletter

Keep up to date with Concert's email newsletter.
Complete the fields below.

Thank you for your Interest in Concert

Your subscription is almost complete! A confirmation email has been sent to the address provided. Please check your inbox and click on the “Confirm Subscription” link within the confirmation email to make sure you don’t miss out on Concert news.