EDMONTON, AB, May 3, 2021
/CNW/ - Imperial Equities Inc. (TSXV: IEI) has acquired
the former Teamsters property in Edmonton, Alberta. The acquisition is an
important strategic asset that consolidates certain land holdings
in Imperial's Coppertone Industrial Common. Located in
northwest Edmonton and developed
by Imperial Equities in 2004, Coppertone Industrial Common consists
of seven properties with almost 120,000 square feet of first-class
industrial space, most of which was developed by Imperial directly
and is 100% occupied.
"This property fills in an important gap in our land holdings in
this area and offers additional flexibility as we plan for new
development" said Sine Chadi, President and CEO of Imperial
Equities Inc. "We prioritize land acquisition when it is of clear
strategic advantage to the company and our ability to respond to
industrial tenants who have specialized needs or to
accommodate the growth of existing tenants. Coppertone Industrial
Common is ideally located, has strong covenants in place and has
been a solid, consistent performer for our company."
The Teamsters property has an existing 6,000 square feet of
office building which will be leased until such time as the Company
proceeds to incorporate the property with the adjacent lands and
undertake new development.
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.
