Building Magazine


Scott’s REIT adds four properties to its portfolio

Scott’s REIT has completed two acquisitions in Ontario to add four income-producing properties to its asset portfolio.The first agreement, the largest acquisition for Scott’s REIT to date and previously announced on October 17, 2007, includes three brand new single-tenant retail properties that are leased exclusively to Pharma Plus. Located in Windsor and Renfrew, Ontario, the centres comprise a total of 36,400-sq.-ft. The total transaction is approximately $14 million.The second agreement, previously announced on October 3, 2007, is for a 14,000-sq.-ft. single-tenant unenclosed retail centre located in the centre of Hanover, Ontario, a town on the boundary of Bruce and Grey Counties. Anchored by Pharma Plus, the total transaction cost is approximately $1.4 million.

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