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Partners REIT Sells BC Strip Mall To Choice Properties REIT

Washington Park in Courtenay, BC

Partners REIT has sold Washington Park retail centre in Courtenay, BC, to Choice Properties REIT for $12.8M. The strip mall includes two buildings (32k SF) and is shadow-anchored by a Real Canadian Superstore on a Choice-owned site; Choice also owns adjacent development land. Partners has a portfolio of 35 retail and mixed-use shopping centres (2.5M SF). Choice’s holdings include 535 properties (43.3M SF GLA) primarily supermarket- and drugstore-anchored shopping centres and stand-alone properties. Its primary unitholder is Loblaw Cos, Canada's largest retailer.