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Artis REIT Sells 8 Alberta Industrial Properties


Artis REIT has sold eight Alberta industrial properties (1.2M SF GLA) for $171M. The sites include Eastlake I, a 165k SF building in Calgary (above); Horizon II, a 96k SF facility, also in Calgary; and several business parks in Edmonton. Artis also has an agreement to dispose of Southwood Corner, a 112k SF retail property in Calgary, for $40.2M. In August the trust sold Uplands Common, a 53k SF retail site in Lethbridge, for $15.2M, followed by disposition of Clareview Town Centre, a 64k SF retail property in Edmonton, for $20M. Artis has sold 16 sites in 2016 (2.1M SF).