C2C Industrial Properties Inc. To Acquire Cambridge Ontario Light
Industrial Property
TORONTO,
Dec. 13, 2012 /CNW/ - C2C Industrial
Properties Inc. ("C2C" or the "Company") (TSXV: CCH) announced
today that it finalized an agreement to acquire a light industrial
property containing approximately 44,500 square feet of gross
leaseable area ("GLA") on 5.6 acres of land. The property includes
approximately 3 acres of excess land, is well-located in a large
industrial park in Cambridge
Ontario, close to major highways and key southwestern
Ontario markets. The building is
100% leased to a single national tenant on a multi-year lease with
approximately 8 years of term remaining. The Company will pay
approximately $4.1 million for the
property, including all due diligence and closing costs, satisfied
entirely in cash. The property is being acquired at a going-in
capitalization rate of approximately 7.90%. The transaction is
expected to close on or before December
20th, 2012.
"This acquisition reflects the continuing
implementation of C2C's strategic plan. The property offers an
excellent immediate return and future development opportunities"
said Chris Ross,
President.
About C2C Industrial Properties Inc.
C2C is a real estate investment corporation specializing in the
acquisition, ownership and operation of light industrial properties
across Canada. C2C currently owns
22 industrial assets totalling approximately 2.1 million square
feet of gross leaseable area. More information about C2C (CCH:
TSX-V) is available at www.c2cip.com.
Forward Looking Statements
This document contains forward-looking statements relating to
C2C and the industry in which it operates and its strategy, action
plans and investments, which may involve estimates, forecasts and
projections. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult
to predict and/or are beyond C2C's control. Consequently,
readers should not place any undue reliance on such forward-looking
statements. These forward-looking statements are made as of the
date of this press release. C2C is under no obligation to update
any forward-looking statements contained herein should material
facts change due to new information, future events or other
factors, unless otherwise required to do so by applicable law. All
forward-looking statements attributable to C2C are expressly
qualified by these cautionary statements.
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
SOURCE C2C Industrial Properties Inc.