Scott’s Real Estate Investment Trust (REIT) has recently announced its completion of the acquisition of a property in Levis, Quebec. The newly purchased 21,000-sq.-ft. retail centre is in a high traffic intersection in the town in eastern Quebec, on the southern shore of the St. Lawrence.
Tim Hortons, Boston Pizza, Scores, Tutti Fruittim and another local tenant have already purchased a lease the multi-tenant retail centre. All of the leases are long term, with an average length of 15 years.
The $6 million purchase was financed through proceeds from a first mortgage.