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Madison Pacific Branches Out

Vancouver
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Vancouver-based Madison Pacific Properties has announced a major expansion--the acquisition of 12 office and industrial properties--totaling 540k SF in B.C., Alberta, Ontario, and Quebec--for over $600M. All 12 properties are leased to a single tenant, Taiga Building Products. (Should make figuring out which tenant left anonymous suggestions a bit easier.) Avison Young's Vancouver office took the lead in executing the deal. In the image is AY principal John Lecky, with colleagues Michael Farrell and Ryan Kerr.

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Three of the properties are in Langley--one in Kelowna, two in Edmonton--and single properties in Calgary, Sudbury, Monetville, Milton, Boucherville, and St. Augustine in Quebec. "The transaction is a good one for our company as the acquisition provides additional geographic diversification and good returns with a quality long-term tenant in place," Madison CEO Marvin Haasen tells us.